California Assembly Bill AB2406 Introduced / Bill

 BILL NUMBER: AB 2406INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Blakeslee FEBRUARY 19, 2010 An act to amend Section 33671 of the Health and Safety Code, relating to redevelopment. LEGISLATIVE COUNSEL'S DIGEST AB 2406, as introduced, Blakeslee. Redevelopment. Existing law provides that certain taxes may be irrevocably pledged for payment of the principal of and interest on debt incurred to finance redevelopment. This bill would make technical, nonsubstantive changes to these provisions. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 33671 of the Health and Safety Code is amended to read: 33671. In any redevelopment plan or in the proceedings for the advance of moneys,  or  making of loans, or the incurring of any indebtedness  (whether  , whether  funded, refunded, assumed, or  otherwise)   otherwise,  by the redevelopment agency to finance or refinance, in whole or in part, the redevelopment project, the portion of taxes  mentioned   referred to  in subdivision (b) of Section 33670 may be irrevocably pledged for the payment of the principal of and interest on  such   those  loans, advances, or indebtedness.