AB 417: Local finance: enhanced infrastructure financing districts: community revitalization and investment authorities.

This bill aims to enhance infrastructure financing districts by allowing communities to finance public capital facilities and projects to foster economic recovery. A public financing authority must hold meetings and public hearings, review the plan annually, and make amendments with public notice. The authority must also adopt an annual report within a shorter timeframe. The bill also creates community revitalization and investment authorities to carry out community revitalization plans within specified areas. The areas must meet certain conditions, including low median household income and deteriorated structures. The authority must consider the plan at fewer public hearings and post notices online and in newspapers. Affected taxing entities can participate in the district and plan by adopting a resolution and providing notice. The authority can also approve the plan and participate in…