Bill > SB516

This bill establishes the California Capital City Downtown Revitalization Act, which allows the City or County of Sacramento to create a special enhanced infrastructure financing district (EIFD) in downtown Sacramento, defined as the area bounded by the Sacramento River, the American River, Broadway, and Alhambra Boulevard. The district is a type of financial mechanism that enables local governments to capture property tax increments to fund public infrastructure and development projects. Under this bill, any taxing entity located entirely or partially in Sacramento County can choose to participate in the district. The bill expands existing law by explicitly allowing the district to accept state funds, in addition to other potential revenue sources like special assessments and facility improvement funds. The legislation creates a unique legal framework specifically tailored to Sacramento's downtown area, acknowledging its distinctive urban development needs. Notably, the bill includes a provision that it will only become operative under certain conditions related to another pending bill (Senate Bill 5), ensuring coordination between potential legislative changes. The legislature declares this special statute necessary due to the unique characteristics of Sacramento's downtown area, which cannot be adequately addressed by a general law.

Government Affairs

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB516