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Committee advances bill to streamline tax-increment tools for local infrastructure
Summary
Assemblymember Carrillo told the Local Government Committee AB 417 would clarify and streamline rules for EIFDs and CRIAs so local governments can better use tax‑increment financing for infrastructure and affordable housing.
Assemblymember Carrillo presented AB 417, describing it as a set of clarifications and procedural fixes intended to make tax-increment financing tools more usable for local governments.
“EIFDs and CRIAs enable cities and counties to use existing property tax revenue and not new or increased property taxes to finance projects that have been vetted and approved by local communities,” Carrillo said. He said AB 417 aims to reduce formation barriers and align CREA law with changes made to EIFD law by SB 1140.
Gurbak Sahota, president and CEO of the California Association for Local Economic Development,…
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