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Committee advances bill to clarify tax-increment tools for local infrastructure and economic development
Summary
Assemblymember Carrillo told the Senate Committee on Local Government that AB 417 would refine tax-increment financing tools so local agencies can more readily fund infrastructure, housing and climate adaptation projects.
Assemblymember Carrillo presented AB 417 to the Senate Committee on Local Government as a set of clarifying amendments to make tax-increment tools — including Enhanced Infrastructure Financing Districts (EIFDs) and Community Revitalization and Investment Authorities (CRIAs) — easier for local governments to use. The bill’s backers said the changes would support affordable housing, climate adaptation, transit and fire-hazard mitigation by enabling more regional partnerships and streamlined administrative steps.
Carrillo told the committee…
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