Update On Redevelopment Law: Legislative Two Step To Cut Redevelopment Agency Funding Goes Down With Governor's Budget Veto

This is the second in a series of blog entries monitoring the proposal to eliminate redevelopment agencies.

Yesterday, after heated and reportedly almost violent debate, both houses of the California State Legislature voted to pass ABX1 26, which would eliminate California redevelopment agencies, called RDAs, effective October 1, 2011, and ABX1 27, which would exempt from elimination any RDA that agreed to make its share of a $1.7 billion voluntary contribution of its revenues to other local government needs.

These bills, which are discussed in more detail below, were part of the overall budget package adopted yesterday. The 2011-2012 budget was passed by the Legislature by the statutory June 15 deadline for only the second time in 25 years, perhaps the result of Proposition 25, the 2010 ballot measure that lets the legislators approve the budget (other than a tax increase) by a simple majority vote, and withholds their pay if its not done on time. The entire budget package was sent to the Governor for signature.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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