California Government Code

§ 62453

GOV § 62453 Effective Jan 1, 2026Div. 8 · Title 6

Statute text

(a)The purpose of the district is to finance commercial-to-residential conversion projects with incremental tax revenues generated by commercial-to-residential conversion projects within the district.

(b)Incremental tax revenues generated by commercial-to-residential conversion projects within the district shall be allocated to, and when collected shall be paid into a special fund of, the district for all lawful purposes described in this section.

(c)The district shall finance only commercial-to-residential conversion projects that the district determines are of communitywide significance and that provide significant benefits to the district or the surrounding community.

…

Legislative history

Amended by Stats. 2025, Ch. 642, Sec. 5. (AB 1445) Effective January 1, 2026.