Section 62005 Of Part 1. General Provisions From California Government Code >> Division 4. >> Title 6. >> Part 1.
62005
. (a) (1) The plan adopted pursuant to Section 62004 may
include a provision that taxes levied and collected upon taxable
property in the area included within the territory each year by or
for the benefit the taxing agencies that have adopted a resolution
pursuant to subdivision (d), shall be divided as follows:
(A) That portion of the taxes that would have been produced by the
rate upon which the tax is levied each year by or for each of the
consenting local agencies upon the total sum of the assessed value of
the taxable property in the territory as shown upon the assessment
roll used in connection with the taxation of the property by the
consenting local agency, last equalized prior to the effective date
of the certification of completion, and that portion of taxes by or
for each school entity, shall be allocated to, and when collected
shall be paid to, the respective consenting local agencies and school
entities as taxes by or for the consenting local agencies and school
entities on all property are paid.
(B) That portion of the levied taxes each year specified in the
community revitalization plan adopted pursuant to Section 62004 for
each consenting local agency that has agreed to participate pursuant
a resolution adopted pursuant to subdivision (d), in excess of the
amount specified in subparagraph (A), shall be allocated to, and when
collected shall be paid into a special fund of the authority to
finance the improvements specified in the community revitalization
plan.
(2) A consenting local agency may advance funds to the authority.
The authority shall use those advanced funds solely for the purposes
specified in the community revitalization plan and shall repay the
consenting local agency with revenue from the taxes received pursuant
to this subdivision.
(b) For purposes of this section, the following definitions apply:
(1) "Taxing agency" means a local agency as defined by subdivision
(a) of Section 95 of the Revenue and Taxation Code, and does not
include any school entity as defined in subdivision (f) of Section 95
of the Revenue and Taxation Code.
(2) "Consenting local agency" means a local agency that has
adopted a resolution of its governing body consenting to the
community revitalization and investment plan.
(3) "Territory" means the land that is contained within the
community revitalization plan.
(c) The provision for the receipt of tax increment funds shall
become effective in the tax year that begins after the December 1
first following the adoption of the plan.
(d) At any time prior to or after adoption of the plan, any city,
county, or special district, other than a school entity as defined in
subdivision (n) of Section 95 of the Revenue and Taxation Code or a
successor agency as defined in subdivision (j) of Section 34171, that
receives ad valorem property taxes from property located within an
area may adopt a resolution directing the county auditor-controller
to allocate its share of tax increment funds within the area covered
by the plan according to subdivision (a) to the authority. The
resolution adopted pursuant to this subdivision may direct the county
auditor-controller to allocate less than the full amount of the tax
increment, establish a maximum amount of time in years that the
allocation takes place, or limit the use of the funds by the
authority for specific purposes or programs, provided that 25 percent
of the amount of tax increment designated shall be allocated for
affordable housing pursuant to Section 62100. A resolution adopted
pursuant to this subdivision may be repealed and be of no further
effect by giving the county auditor-controller 60 days' notice;
provided, however, that the county auditor-controller shall continue
to allocate to the authority the taxing entity's share of ad valorem
property taxes that have been pledged to the repayment of debt issued
by the authority until the debt has been fully repaid. Prior to
adopting a resolution pursuant to this subdivision, a city, county,
or special district shall approve a memorandum of understanding with
the authority governing the authority's use of tax increment funds
for administrative and overhead expenses pursuant to subdivision (g)
of Section 62001.
(e) Upon adoption of a plan that includes a provision for the
receipt of tax increment funds according to subdivision (a), the
county auditor-controller shall allocate tax increment revenue to the
authority as follows:
(1) If the authority was formed pursuant to subparagraph (A) of
paragraph (1) of subdivision (b) of Section 62001, the authority
shall be allocated each year specified in the plan that portion of
the taxes levied for each city, county, city and county, and special
district that has adopted a resolution pursuant to subdivision (d),
in excess of the amount specified in paragraph (1) of subdivision
(a).
(2) If the authority was formed pursuant to subparagraph (B) of
paragraph (1) of subdivision (b) of Section 62001, the authority
shall be allocated each year specified in the plan that portion of
the taxes levied for each jurisdiction as provided in the joint
powers agreement in excess of the amount specified in paragraph (1)
of subdivision (a).
(f) If an area includes, in whole or in part, land formerly or
currently designated as a part of a redevelopment project area, as
defined in Section 33320.1 of the Health and Safety Code, any plan
adopted pursuant to this part that includes a provision for the
receipt of tax increment revenues according to subdivision (a) shall
include a provision that tax increment amounts payable to an
authority are subject and subordinate to any preexisting enforceable
obligation as that term is defined by Section 34171 of the Health and
Safety Code.