HEALTH AND SAFETY CODE
SECTION 34182-34188.8
34182. (a) (1) The county auditor-controller shall conduct or cause
to be conducted an agreed-upon procedures audit of each
redevelopment agency in the county that is subject to this part, to
be completed by March 1, 2012.
(2) The purpose of the audits shall be to establish each
redevelopment agency's assets and liabilities, to document and
determine each redevelopment agency's passthrough payment obligations
to other taxing agencies, and to document and determine both the
amount and the terms of any indebtedness incurred by the
redevelopment agency and certify the initial Recognized Obligation
Payment Schedule.
(3) The county auditor-controller may charge the Redevelopment
Property Tax Trust Fund for any costs incurred by the county
auditor-controller pursuant to this part.
(b) By March 15, 2012, the county auditor-controller shall provide
the Controller's office a copy of all audits performed pursuant to
this section. The county auditor-controller shall maintain a copy of
all documentation and working papers for use by the Controller.
(c) (1) The county auditor-controller shall determine the amount
of property taxes that would have been allocated to each
redevelopment agency in the county had the redevelopment agency not
been dissolved pursuant to the operation of the act adding this part.
These amounts are deemed property tax revenues within the meaning of
subdivision (a) of Section 1 of Article XIII A of the California
Constitution and are available for allocation and distribution in
accordance with the provisions of the act adding this part. The
county auditor-controller shall calculate the property tax revenues
using current assessed values on the last equalized roll on August
20, pursuant to Section 2052 of the Revenue and Taxation Code, and
pursuant to statutory formulas or contractual agreements with other
taxing agencies, as of the effective date of this section, and shall
deposit that amount in the Redevelopment Property Tax Trust Fund.
(2) Each county auditor-controller shall administer the
Redevelopment Property Tax Trust Fund for the benefit of the holders
of former redevelopment agency enforceable obligations and the taxing
entities that receive passthrough payments and distributions of
property taxes pursuant to this part.
(3) In connection with the allocation and distribution by the
county auditor-controller of property tax revenues deposited in the
Redevelopment Property Tax Trust Fund, in compliance with this part,
the county auditor-controller shall prepare estimates of amounts to
be allocated and distributed, and provide those estimates to both the
entities receiving the distributions and the Department of Finance,
no later than November 1 and May 1 of each year.
(4) Each county auditor-controller shall disburse proceeds of
asset sales or reserve balances, which have been received from the
successor entities pursuant to Sections 34177 and 34187, to the
taxing entities. In making such a distribution, the county
auditor-controller shall utilize the same methodology for allocation
and distribution of property tax revenues provided in Section 34188.
(d) By October 1, 2012, the county auditor-controller shall report
the following information to the Controller's office and the
Director of Finance:
(1) The sums of property tax revenues remitted to the
Redevelopment Property Tax Trust Fund related to each former
redevelopment agency.
(2) The sums of property tax revenues remitted to each agency
under paragraph (1) of subdivision (a) of Section 34183.
(3) The sums of property tax revenues remitted to each successor
agency pursuant to paragraph (2) of subdivision (a) of Section 34183.
(4) The sums of property tax revenues paid to each successor
agency pursuant to paragraph (3) of subdivision (a) of Section 34183.
(5) The sums paid to each city, county, and special district, and
the total amount allocated for schools pursuant to paragraph (4) of
subdivision (a) of Section 34183.
(6) Any amounts deducted from other distributions pursuant to
subdivision (b) of Section 34183.
(e) A county auditor-controller may charge the Redevelopment
Property Tax Trust Fund for the costs of administering the provisions
of this part.
(f) The Controller may audit and review any county
auditor-controller action taken pursuant to the act adding this part.
As such, all county auditor-controller actions shall not be
effective for three business days, pending a request for review by
the Controller. In the event that the Controller requests a review of
a given county auditor-controller action, he or she shall have 10
days from the date of his or her request to approve the county
auditor-controller's action or return it to the county
auditor-controller for reconsideration and such county
auditor-controller action shall not be effective until approved by
the Controller. In the event that the Controller returns the county
auditor-controller's action to the county auditor-controller for
reconsideration, the county auditor-controller must resubmit the
modified action for Controller approval and such modified county
auditor-controller action shall not become effective until approved
by the Controller.
34183. (a) Notwithstanding any other law, from October 1, 2011, to
July 1, 2012, and for each fiscal year thereafter, the county
auditor-controller shall, after deducting administrative costs
allowed under Section 34182 and Section 95.3 of the Revenue and
Taxation Code, allocate moneys in each Redevelopment Property Tax
Trust Fund as follows:
(1) Subject to any prior deductions required by subdivision (b),
first, the county auditor-controller shall remit from the
Redevelopment Property Tax Trust Fund to each local agency and school
entity an amount of property tax revenues in an amount equal to that
which would have been received under Section 33401, 33492.140,
33607, 33607.5, 33607.7, or 33676, as those sections read on January
1, 2011, or pursuant to any passthrough agreement between a
redevelopment agency and a taxing jurisdiction that was entered into
prior to January 1, 1994, that would be in force during that fiscal
year, had the redevelopment agency existed at that time. The amount
of the payments made pursuant to this paragraph shall be calculated
solely on the basis of passthrough payment obligations, existing
prior to the effective date of this part and continuing as
obligations of successor entities, shall occur no later than January
16, 2012, and no later than June 1, 2012, and each January 16 and
June 1 thereafter. Notwithstanding subdivision (e) of Section 33670,
that portion of the taxes in excess of the amount identified in
subdivision (a) of Section 33670, which are attributable to a tax
rate levied by a taxing agency for the purpose of producing revenues
in an amount sufficient to make annual repayments of the principal
of, and the interest on, any bonded indebtedness for the acquisition
or improvement of real property shall be allocated to, and when
collected shall be paid into, the fund of that taxing agency.
(2) Second, on January 16, 2012, and June 1, 2012, and each
January 16 and June 1 thereafter, to each successor agency for
payments listed in its Recognized Obligation Payment Schedule for the
six-month fiscal period beginning January 1, 2012, or July 1, 2012,
and each January 16 and June 1 thereafter, in the following order of
priority:
(A) Debt service payments scheduled to be made for tax allocation
bonds.
(B) Payments scheduled to be made on revenue bonds, but only to
the extent the revenues pledged for them are insufficient to make the
payments and only where the agency's tax increment revenues were
also pledged for the repayment of the bonds.
(C) Payments scheduled for other debts and obligations listed in
the Recognized Obligation Payment Schedule that are required to be
paid from former tax increment revenue.
(3) Third, on January 16, 2012, and June 1, 2012, and each January
16 and June 1 thereafter, to each successor agency for the
administrative cost allowance, as defined in Section 34171, for
administrative costs set forth in an approved administrative budget
for those payments required to be paid from former tax increment
revenues.
(4) Fourth, on January 16, 2012, and June 1, 2012, and each
January 16 and June 1 thereafter, any moneys remaining in the
Redevelopment Property Tax Trust Fund after the payments and
transfers authorized by paragraphs (1) to (3), inclusive, shall be
distributed to local agencies and school entities in accordance with
Section 34188.
(b) If the successor agency reports, no later than December 1,
2011, and May 1, 2012, and each December 1 and May 1 thereafter, to
the county auditor-controller that the total amount available to the
successor agency from the Redevelopment Property Tax Trust Fund
allocation to that successor agency's Redevelopment Obligation
Retirement Fund, from other funds transferred from each redevelopment
agency, and from funds that have or will become available through
asset sales and all redevelopment operations, are insufficient to
fund the payments required by paragraphs (1) to (3), inclusive, of
subdivision (a) in the next six-month fiscal period, the county
auditor-controller shall notify the Controller and the Department of
Finance no later than 10 days from the date of that notification. The
county auditor-controller shall verify whether the successor agency
will have sufficient funds from which to service debts according to
the Recognized Obligation Payment Schedule and shall report the
findings to the Controller. If the Controller concurs that there are
insufficient funds to pay required debt service, the amount of the
deficiency shall be deducted first from the amount remaining to be
distributed to taxing entities pursuant to paragraph (4), and if that
amount is exhausted, from amounts available for distribution for
administrative costs in paragraph (3). If an agency, pursuant to the
provisions of Section 33492.15, 33492.72, 33607.5, 33671.5, 33681.15,
or 33688, made passthrough payment obligations subordinate to debt
service payments required for enforceable obligations, funds for
servicing bond debt may be deducted from the amounts for passthrough
payments under paragraph (1), as provided in those sections, but only
to the extent that the amounts remaining to be distributed to taxing
entities pursuant to paragraph (4) and the amounts available for
distribution for administrative costs in paragraph (3) have all been
exhausted.
(c) The county treasurer may loan any funds from the county
treasury that are necessary to ensure prompt payments of
redevelopment agency debts.
(d) The Controller may recover the costs of audit and oversight
required under this part from the Redevelopment Property Tax Trust
Fund by presenting an invoice therefor to the county
auditor-controller who shall set aside sufficient funds for and
disburse the claimed amounts prior to making the next distributions
to the taxing jurisdictions pursuant to Section 34188. Subject to the
approval of the Director of Finance, the budget of the Controller
may be augmented to reflect the reimbursement, pursuant to Section
28.00 of the Budget Act.
34185. Commencing on January 16, 2012, and on each January 16 and
June 1 thereafter, the county auditor-controller shall transfer, from
the Redevelopment Property Tax Trust Fund of each successor agency
into the Redevelopment Obligation Retirement Fund of that agency, an
amount of property tax revenues equal to that specified in the
Recognized Obligation Payment Schedule for that successor agency as
payable from the Redevelopment Property Tax Trust Fund subject to the
limitations of Sections 34173 and 34183.
34186. Differences between actual payments and past estimated
obligations on recognized obligation payment schedules must be
reported in subsequent recognized obligation payment schedules and
shall adjust the amount to be transferred to the Redevelopment
Obligation Retirement Fund pursuant to this part. These estimates and
accounts shall be subject to audit by county auditor-controllers and
the Controller.
34187. Commencing January 1, 2012, whenever a recognized obligation
that had been identified in the Recognized Payment Obligation
Schedule is paid off or retired, either through early payment or
payment at maturity, the county auditor-controller shall distribute
to the taxing entities, in accordance with the provisions of the
Revenue and Taxation Code, all property tax revenues that were
associated with the payment of the recognized obligation.
34188. For all distributions of property tax revenues and other
moneys pursuant to this part, the distribution to each taxing entity
shall be in an amount proportionate to its share of property tax
revenues in the tax rate area in that fiscal year, as follows:
(a) (1) For distributions from the Redevelopment Property Tax
Trust Fund, the share of each taxing entity shall be applied to the
amount of property tax available in the Redevelopment Property Tax
Trust Fund after deducting the amount of any distributions under
paragraphs (2) and (3) of subdivision (a) of Section 34183.
(2) For each taxing entity that receives passthrough payments,
that agency shall receive the amount of any passthrough payments
identified under paragraph (1) of subdivision (a) of Section 34183,
in an amount not to exceed the amount that it would receive pursuant
to this section in the absence of the passthrough agreement. However,
to the extent that the passthrough payments received by the taxing
entity are less than the amount that the taxing entity would receive
pursuant to this section in the absence of a passthrough agreement,
the taxing entity shall receive an additional payment that is
equivalent to the difference between those amounts.
(b) Property tax shares of local agencies shall be determined
based on property tax allocation laws in effect on the date of
distribution, without the revenue exchange amounts allocated pursuant
to Section 97.68 of the Revenue and Taxation Code, and without the
property taxes allocated pursuant to Section 97.70 of the Revenue and
Taxation Code.
(c) The total school share, including passthroughs, shall be the
share of the property taxes that would have been received by school
entities, as defined in subdivision (f) of Section 95 of the Revenue
and Taxation Code, in the jurisdictional territory of the former
redevelopment agency, including, but not limited to, the amounts
specified in Sections 97.68 and 97.70 of the Revenue and Taxation
Code.
34188.8. For purposes of a redevelopment agency that becomes
subject to this part pursuant to Section 34195, a date certain
identified in this chapter shall not be subject to Section 34191,
except for dates certain in Section 34182 and references to "October
1, 2011," or to the "operative date of this part,". However, for
purposes of those redevelopment agencies, a date certain identified
in this chapter shall be appropriately modified, as necessary to
reflect the appropriate fiscal year or portion of a fiscal year.
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