AB 2693

  • California Assembly Bill
  • 2015-2016 Regular Session
  • Introduced in Assembly Feb 19, 2016
  • Passed Assembly May 23, 2016
  • Passed Senate Aug 24, 2016
  • Signed by Governor Sep 25, 2016

Financing requirements: property improvements.

Abstract

(1) Existing law authorizes the legislative body of a public agency, as defined, to determine that it would be convenient, advantageous, and in the public interest to designate an area within which authorized public agency officials and property owners may enter into voluntary contractual assessments to finance certain improvements, including the installation of distributed generation renewable sources, energy or water efficiency improvements, seismic strengthening improvements, or electric vehicle charging infrastructure that are permanently fixed to real property, as specified. Existing law prohibits a public agency from permitting a property owner to participate in any program established pursuant to these provisions if the owner's participation would result in the total amount of any annual property taxes and assessments exceeding 5% of the property's market value, as determined at the time of approval of the owner's contractual assessment. This bill would also prohibit a public agency from permitting a property owner to participate in a program pursuant to these provisions unless the property owner satisfies certain conditions and the property owner is given the right to cancel the contractual assessment at any time prior to midnight on the 3rd business day after certain events occur without penalty or obligation, consistent with certain requirements. The bill would require a financing estimate document or a substantially equivalent document to be completed and delivered to a property owner before the property owner consummates a voluntary contractual assessment pursuant to one of these programs. The bill would prohibit a public agency or other party to a voluntary contractual assessment pursuant to one of these programs to make any monetary or percentage representations of increased value to a property owner regarding the effect the financed improvements will have on the market value of the property unless the public agency or other party derives its estimates of market value using specified methods. This bill would limit these provisions to a property owner who seeks to participate in a program established to finance the installation of distributed generation renewable energy sources, energy or water efficiency improvements, seismic strengthening improvements, or electric vehicle charging infrastructure that are permanently fixed to real property pursuant to these provisions for a residential property with 4 or fewer units. (2) The Mello-Roos Community Facilities Act of 1982 specifies the requirements for the establishment of a community facilities district, including, among other things, a petition, a hearing, the establishment of the boundaries of the community facilities district, and an election on the question. Existing law authorizes a community facilities district formed pursuant to an alternative procedure under which the district initially consists solely of territory proposed for annexation to the community facilities district in the future and territory is annexed and subjected to special taxes only upon unanimous approval of the owners, to finance and refinance the acquisition, installation, and improvement of energy efficiency, water conservation, and renewable energy improvements. This bill would require a legislative body to comply with the requirements described above prior to the annexation of a parcel or parcels to a community facilities district formed pursuant to the alternative procedure. The bill would prohibit a parcel or parcels from being annexed to a community facilities district formed pursuant to the alternative procedure if the parcel owner is seeking financing for improvement on a residential property with 4 or fewer units, unless the parcel satisfies specified conditions. This bill would incorporate additional changes to Section 53328.1 of the Government Code proposed by AB 2618 to be operative only if AB 2618 and this bill are chaptered and become effective on or before January 1, 2017, and this bill is chaptered last.

Bill Sponsors (4)

Votes


Actions


Sep 25, 2016

California State Legislature

Chaptered by Secretary of State - Chapter 618, Statutes of 2016.

California State Legislature

Approved by the Governor.

Sep 09, 2016

California State Legislature

Enrolled and presented to the Governor at 2:30 p.m.

Aug 30, 2016

Assembly

Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 80. Noes 0. Page 6457.).

Aug 26, 2016

Assembly

In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 28 pursuant to Assembly Rule 77.

Aug 24, 2016

Senate

Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 5346.).

Aug 22, 2016

Senate

Read second time. Ordered to third reading.

Aug 19, 2016

Senate

Read third time and amended. Ordered to second reading.

Aug 02, 2016

Senate

Read second time and amended. Ordered to third reading.

Aug 01, 2016

Senate

From committee: Amend, and do pass as amended. (Ayes 7. Noes 0.) (June 28).

Jun 22, 2016

Senate

Read second time and amended. Re-referred to Com. on JUD.

  • Referral-Committee
  • Reading-2
  • Amendment-Passage
  • Reading-1
Com. on JUD.

Jun 21, 2016

Senate

From committee: Amend, and do pass as amended and re-refer to Com. on JUD. (Ayes 6. Noes 0.) (June 15).

Jun 06, 2016

Senate

From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on GOV. & F.

  • Referral-Committee
  • Reading-2
  • Amendment-Introduction
  • Amendment-Passage
  • Reading-1
Com. on GOV. & F.

Jun 02, 2016

Senate

Referred to Coms. on GOV. & F. and JUD.

  • Referral-Committee
Coms. on GOV. & F. and JUD.

May 23, 2016

Senate

In Senate. Read first time. To Com. on RLS. for assignment.

Assembly

Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 0. Page 4894.)

May 11, 2016

Assembly

Read second time. Ordered to third reading.

May 10, 2016

Assembly

Read second time and amended. Ordered returned to second reading.

May 09, 2016

Assembly

From committee: Amend, and do pass as amended. (Ayes 9. Noes 0.) (May 4).

May 02, 2016

Assembly

Re-referred to Com. on L. GOV.

  • Referral-Committee
Com. on L. GOV.

Assembly

Measure version as amended on April 28 corrected.

Apr 28, 2016

Assembly

Read second time and amended.

Apr 27, 2016

Assembly

From committee: Amend, and do pass as amended and re-refer to Com. on L. GOV. (Ayes 11. Noes 1.) (April 25).

Apr 21, 2016

Assembly

(pending re-refer to Com. on L. GOV.)

Assembly

Assembly Rule 56 suspended. (Page 4448.)

Apr 13, 2016

Assembly

In committee: Set, first hearing. Hearing canceled at the request of author.

Apr 12, 2016

Assembly

Re-referred to Com. on B. & F.

  • Referral-Committee
Com. on B. & F.

Apr 11, 2016

Assembly

From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

Mar 28, 2016

Assembly

Re-referred to Com. on B. & F.

  • Referral-Committee
Com. on B. & F.

Mar 17, 2016

Assembly

Referred to Com. on B. & F.

  • Referral-Committee
Com. on B. & F.

Assembly

From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

Feb 22, 2016

Assembly

Read first time.

Feb 21, 2016

Assembly

From printer. May be heard in committee March 22.

Feb 19, 2016

Assembly

Introduced. To print.

Bill Text

Bill Text Versions Format
AB2693 HTML
02/19/16 - Introduced PDF
03/17/16 - Amended Assembly PDF
04/11/16 - Amended Assembly PDF
04/28/16 - Amended Assembly PDF
05/10/16 - Amended Assembly PDF
06/06/16 - Amended Senate PDF
06/22/16 - Amended Senate PDF
08/02/16 - Amended Senate PDF
08/19/16 - Amended Senate PDF
09/01/16 - Enrolled PDF
09/25/16 - Chaptered PDF

Related Documents

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Sources

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