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Committee advances SB 5 to prevent tax‑increment financing from subsidizing development on lands under Williamson Act contracts
Summary
The Assembly Local Government Committee voted to advance SB 5, which would bar enhanced infrastructure financing districts and similar tax‑increment mechanisms from using tax increment derived from parcels under Williamson Act farmland contracts until those parcels have been formally released and rezoned.
The Assembly Local Government Committee advanced SB 5, a measure intended to close a financing loophole that can allow tax‑increment infrastructure districts to capture revenues on parcels that remain protected by Williamson Act farmland contracts.
The sponsor said the bill protects the integrity of the Williamson Act, the state’s principal farmland conservation program, by ensuring parcels under active agricultural contracts or farmland security zones cannot be included in enhanced infrastructure financing districts (EIFDs) or community revitalization and…
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