It is estimated that provisions of this bill may reduce the number of future economic development projects that could be done by Redevelopment Agencies. Some projects may be stopped from using the Redevelopment Agency as an economic development project tool. The provisions of the bill reduce the amount of tax increment that could be used for redevelopment projects by up to 80 percent and shorten the time the agencies are authorized to receive increment financing. Funding to the Local Contribution to the Minimum School Program and funding to local taxing entities may be affected. The amount by which they are affected depends on the number, size and location of the potential projects that may or may not take place.

Office of the Legislative Fiscal Analyst

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