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Committee advances AB 417 to refine tax increment tools; opposition urges removal of eminent domain authority for CRIAs
Summary
The Local Government Committee voted 7-0 to pass AB 417, a bill that clarifies and streamlines rules for Enhanced Infrastructure Financing Districts (EIFDs) and Community Revitalization and Investment Authorities (CRIAs). Opponents urged the author to eliminate a provision that grants CRIAs eminent domain authority.
The California State Assembly Local Government Committee voted 7-0 to report AB 417, a bill the author said would clarify and improve the functionality of tax increment financing tools used by cities and counties.
Assemblymember Carrillo said AB 417 makes adjustments to tools such as Enhanced Infrastructure Financing Districts (EIFDs) and Community Revitalization and Investment Authorities (CRIAs) to support…
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