HomeMy WebLinkAboutRDA SB 1972 12-15-80DATE:
TO:
FROM:
SUBJECT:
December 10, 1980
REDEVELOPMENT AGENCY
Inter - C om
Board of Directors of %he ~s%[n Cormmuni%y Re--Development Agency
Ron Nault, Finance Directo~
EFFECT OF SB 1972 ON ARTICLE XIII B OF THE STATE CONSTITUTION
Background
Article XIII B of the State Constitution, '"The Gann
Spending Limitation," does not address the particular
revenue structure of Re-Development agencies. SB 1972
was enacted to specifically exempt tax increment
revenue from the computation of proceeds of taxes.
Overview
SB 1972 specifically exempts RDA tax increment revenue
from Article XIII B consideration, but it is recommended
that a resolution be adopted recognizing that fact.
Recommendation
It is recommended that the Board of Directors review
this information and discuss with staff any concerns
prior to adopting said resolution at the next regularly
scheduled meeting.