California SB226 establishes infrastructure revitalization financing districts to fund communitywide projects.

California SB226 amends the Government Code to allow the creation of infrastructure revitalization financing districts. These districts can finance projects of communitywide significance, including highways, sewage treatment, and parks. They cannot fund routine maintenance or ongoing operational costs. Projects must have an estimated useful life of 15 years or longer. Districts may also finance sustainable communities strategies and land purchases for development. If a district constructs dwelling units, at least 20% must be reserved for low- and moderate-income housing.

California SB226 establishes infrastructure revitalization financing districts to fund communitywide projects.

California SB226 amends the Government Code to allow the creation of infrastructure revitalization financing districts. These districts can finance projects of communitywide significance, including highways, sewage treatment, and parks. They cannot fund routine maintenance or ongoing operational costs. Projects must have an estimated useful life of 15 years or longer. Districts may also finance sustainable communities strategies and land purchases for development. If a district constructs dwelling units, at least 20% must be reserved for low- and moderate-income housing.