Opportunity zone funds: reporting.

Existing law authorizes the Governor's Office of Business and Economic Development to develop content on its internet website or through other mediums to be used for public dissemination, through outreach activities, in order to provide information and resources to inform the general public about place-based and other geographically targeted economic development programs, including California promise zones and California opportunity zones. Existing law requires the Governor's Office of Business and Economic Development to convene, at least annually, representatives from various programs and agencies across the state and from various federal programs and agencies for the purpose of discussing how California can leverage promise zones and opportunity zones to meet state and local community and economic development needs. Existing law, the Planning and Zoning Law, among other things, requires the legislative body of each county and city to adopt a comprehensive, long-term general plan for the physical development of the county or city and of any land outside its boundaries that relates to its planning. That law authorizes the legislative body of any county or city, pursuant to specified procedures, to adopt ordinances that, among other things, regulate the use of buildings, structures, and land as between industry, business, residences, open space, and other purposes. That law also requires public agencies to compile lists that specify in detail the information that will be required from any applicant for a development project. This bill, until January 1, 2025, would require the Governor's Office of Business and Economic Development, in cooperation with the Office of Planning and Research, to track specified information regarding California opportunity zone investments and to post some of that information on the Governor's Office of Business and Economic Development's internet website. The bill, for purposes of those provisions, would require, until January 1, 2025, public agencies that are required to compile the development project lists described above to include specified information about all development projects funded by an opportunity zone fund in those lists, and to submit that information to the Governor's Office of Business and Economic Development, as provided. The bill would authorize public agencies to charge a reasonable regulatory fee, not to exceed the costs of complying with these provisions, as part of the application fee charged for the development permit. This bill would require, on or before January 1, 2022, the Office of Planning and Research, in consultation with the Department of Housing and Community Development and the Governor's Office of Business and Economic Development, among others, to publicly issue a report to the Legislature that summarizes and explicates data on California opportunity zones and answers specified questions relating to opportunity zones. This bill would include findings that changes proposed by this bill address a matter of statewide concern rather than a municipal affair and, therefore, apply to all cities, including charter cities. 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.