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SB 33 Senate Bill-Bill Analysis Page 5 of 7 attack, review, set aside, void, or annul the creation of an IFD or the adoption of an infrastructure financing plan from 30 days after the enactment of the ordinance creating the IFD to 30 days after the date the legislative body adopted the resolution adopting the infrastructure financing plan. 30)Changes the time period that any action or proceeding to attack, review, set aside, void, or annul the issuance of bonds by the IFD from 30 days after the resolution that the voters approved the issuance of bonds to 30 days from the date the legislative body adopted the resolution providing for the issuance of bonds. 31)Makes specified findings and declarations, including the following: a) It is in the public interest to develop a mechanism that allows public agencies to jointly dedicate their revenues to projects that support sustainable communities; b) Disadvantaged communities, as defined, may not be beneficiaries of quality public works, and therefore these communities are neglected, isolated from, and deprived of the basic facilities needed for public health and safety; and, c) IFDS are consistent with the conclusion of California courts that tax increment revenues are not "proceeds of taxes," as specified. 32)Revises the definition of an IFD to mean "a legally constituted public and corporate governmental entity separate SD 33 Page 7 and distinct from the city that established it." 33)Defines "public facilities of communitywide significance" to mean "facilities that benefit all areas within the IFD or serve or are made available to those areas." 34)Prohibits an IFD from compensating the members of the legislative body of the city or the IFD for any activities undertaken pursuant to the bill's provisions EXISTING LAW . 1)Authorizes cities and counties to create IFDS and issue bonds to pay for community scale public works: highways, transit, water systems, sewer projects, flood control, child care facilities, libraries, parks, and solid waste facilities. 2)Allows an IFD to divert property tax increment revenues from other local governments, excluding school districts, for up to 30 years, in order to pay back bonds issued by the IFD. 3)Requires that in order to form an IFD a city or county must develop an infrastructure plan, send copies to every landowner, consult with other local governments, and hold a public hearing. 4)Requires that when forming an IFD, local officials must find that its public facilities are of communitywide significance and provide significant benefits to an area larger than the IFD. 5)Requires that every local agency who will contribute its http://www.leginfo.ca.gov/pub/13-I4/bill/sen/sb_0001-0050/sb_33_cfa_20130829_I70827_asm_floor.html 7/3/2014