California Government Code

§ 51299.1

GOV § 51299.1 Effective Jan 1, 2026Div. 1 · Title 5 · Part 1 · Ch. 9

Statute text

For purposes of this chapter:

(a)“Adaptive reuse investment incentive funds” means, with respect to a qualified adaptive reuse project property for a relevant fiscal year, an amount up to or equal to the amount of ad valorem property tax revenue allocated to the participating local agency, excluding the revenue transfers required by Sections 97.2 and 97.3 of the Revenue and Taxation Code, from the taxation of that portion of the total assessed value of the real and personal property of an adaptive reuse project property that is in excess of the qualified adaptive reuse project property’s valuation at the time of the proponent’s initial request for funding.

(b)“Program” means an adaptive reuse investment incentive program established pursuant to Section 51299.2.

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Legislative history

Added by Stats. 2025, Ch. 493, Sec. 2. (AB 507) Effective January 1, 2026. Operative July 1, 2026, pursuant to Section 51299.4.