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SB 33 — 16—. <br /> 1 district shall not spend any funds to construct any new public works <br /> 2 projects; provided, however,the district may complete any public <br /> 3 works projects that it had started. Any excess property tax <br /> 4 increment revenues that had been allocated for new public works <br /> 5 projects shall be reallocated to the affected taxing entities. <br /> 6 SEC. 18. Section 53395.21 of the Government Code is <br /> 7 repealed. <br /> 8 SEC. 19. Section 53395.21 is added to the Government Code, <br /> 9 to read: <br /> 10 53395.21. (a) If an infrastructure financing plan contains a <br /> 11 provision that provides for the division of taxes of any affected <br /> 12 taxing entity,a public accountability committee shall be established <br /> 13 pursuant to this section. <br /> 14 (b) A public accountability committee shall be comprised of a <br /> 15 representative of each affected taxing entity that has agreed to the <br /> 16 division of its taxes, a representative of the public financing <br /> 17 authority, and one or more public members. <br /> 18 (c) The legislative body of each affected taxing entity and the <br /> 19 legislative body of the public financing authority shall each appoint <br /> 20 one of its members, or their designee, to the public accountability <br /> 21 committee. Those persons appointed pursuant to this subdivision <br /> 22 shall, by lot, appoint one or more public members to ensure that <br /> 23 the public accountability committee consists of an odd number of <br /> 24 members for voting purposes. <br /> 25 (d) The purposes of the public accountability committee shall <br /> 26 be to conduct or have conducted an annual performance review <br /> 27 and an annual independent financial review of the public financing <br /> 28 authority. The costs of the audits required pursuant to this <br /> 29 subdivision shall be paid from revenues of the public financing <br /> 30 authority. <br /> 31 SEC. 20. Section 53395.22 of the Government Code is <br /> 32 repealed. <br /> 33 SEC. 21. Section 53395.23 of the Government Code is <br /> 34 repealed. <br /> 35 SEC. 22. Section 53395.24 of the Government Code is <br /> 36 repealed. <br /> 37 SEC. 23. Section 53395.25 of the Government Code is <br /> 38 repealed. <br /> 39 SEC. 24. Section 53396 of the Government Code is amended <br /> 40 to read: <br /> 97 <br />