SB 516: Enhanced infrastructure financing districts: California Capital City Downtown Revitalization Act.

This bill establishes the California Capital City Downtown Revitalization Act, allowing the city of Sacramento to create an enhanced infrastructure financing district within the downtown area. The district will be authorized to opt in from an affected taxing entity in the county. The bill specifies that the district can utilize additional sources of revenue, including state funds, with voter approval and a approved infrastructure financing plan. The legislation aims to support the downtown Sacramento geographic area by providing a special statute. It incorporates changes to section 53398.75 of the government code, which will be operative only if this bill and another bill (SB 5) are enacted in the correct order.