AB 2079: Adaptive Reuse Investment Incentive Program.

The bill aims to expand the definition of qualified adaptive reuse project properties to include projects that meet the office to housing conversion act requirements, regardless of affordability or labor standards. This expansion would allow cities, counties, and city-counties to pay adaptive reuse investment incentive funds to proponents of such projects, subsidizing both affordable housing units and the entire project's housing units. The bill also modifies the authorization for cities and special districts to pay to the city or county to subsidize the project's housing units, allowing for a broader range of funding.