Redevelopment.

(1) The Community Redevelopment Law authorizes the establishment of redevelopment agencies in communities to address the effects of blight, as defined, in blighted areas in those communities known as project areas. Existing law requires redevelopment agencies in specified years to remit to the county auditor an amount of revenue, determined in accordance with specified calculations made by the Director of Finance and based on a specified report of the Controller, for deposit in the Educational Revenue Augmentation Fund or Supplemental Educational Revenue Augmentation Fund in each county for allocation to school entities, as prescribed. This bill would authorize a redevelopment agency to make a voluntary payment to local educational agencies, as defined, from property tax revenues allocated pursuant to a specified provision of existing law for the 2011–12 fiscal year, in an amount as prescribed. The bill would authorize an agency electing to make the voluntary payment to amend and extend specified redevelopment plan time limitations, as prescribed. The bill would also authorize certain joint powers authorities to issue bonds, notes, or other evidence of indebtedness and loan the net proceeds to an agency, as prescribed, for purposes of making certain of the above-described voluntary payments to local educational agencies, as specified. The bill would require that a first lien be placed upon the property tax revenues allocated to the legislative body that established the agency, which, in the event that the agency fails to timely repay the loan, the county auditor would be required to reallocate for the payment of any past due amount of the agency's loan. (2) Existing law requires the Superintendent of Public Instruction to apportion to each school district in the county a revenue amount each fiscal year less a sum that includes amounts received under specified provisions of the Community Redevelopment Law. The bill would include in the above-described sum the amount of voluntary agency payments by the agencies to the local educational agencies, as specified. (3) This bill would declare that it is to take effect immediately as an urgency statute. (4) The California Constitution authorizes the Governor to declare a fiscal emergency and to call the Legislature into special session for that purpose. Governor Schwarzenegger issued a proclamation declaring a fiscal emergency, and calling a special session for this purpose, on December 6, 2010. Governor Brown issued a proclamation on January 20, 2011, declaring and reaffirming that a fiscal emergency exists and stating that his proclamation supersedes the earlier proclamation for purposes of that constitutional provision. This bill would state that it addresses the fiscal emergency declared and reaffirmed by the Governor by proclamation issued on January 20, 2011, pursuant to the California Constitution.