Community facilities districts: reports.

The Mello-Roos Community Facilities Act of 1982 authorizes the formation of a community facilities district to finance various services. The act requires a community facilities district formed after January 1, 1992, to prepare, if requested by a person who resides in or owns property in the district and within 120 days after the last day of each fiscal year, a separate document titled an "Annual Report." The act requires a legislative body to report specific information regarding the sale of bonds to the California Debt and Investment Advisory Commission (CDIAC) . Other existing law requires each county, city, and special district that assesses a parcel tax to provide specific information to the Controller in connection with reports compiled and published by the Controller on the financial transactions of counties, cities, and special districts. This bill would require a legislative body that has an Internet Web site, within 7 months after the last day of each fiscal year of the district, to display prominently on its Internet Web site a copy of that annual report, if requested, a copy of the report to CDIAC, and a copy of the report to the Controller. By increasing the duties of local officials, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.