Redevelopment: successor agency debt: City and County of San Francisco.

The phrase 'set-aside set aside' (which showed a prior amendment striking through 'set-aside' and replacing it with 'set aside') was finalized to simply read 'set aside' in the definition of net tax increment exclusions.

Standard enrolled-bill formatting elements were added: passage dates for both chambers (August 25, 2026), clerk and secretary signature lines, governor receipt line, and approval date line.

Senate amendment line-number annotations (e.g., 'line 1', 'line 2') and the prior Senate amendment header dates were removed as part of converting to the enrolled format.

New exclusion (ie) added to the definition of 'net tax increment': excludes the portion of tax increment revenues equal to what the successor agency would otherwise pay to school entities, including the Education Revenue Augmentation Fund, pursuant to Section 34183(a)(4), after the effective term of the existing pledge of net tax increment expires. This ensures that once the current pledge ends, those revenues are not available to secure new bonds and instead flow to schools as intended.

Minor correction: 'set-aside' changed to 'set aside' (hyphen removed) in the description of the Affordable Housing Fund set-aside requirement.

A new paragraph (II) is added under Section 34177.7(a)(1)(B)(ii) defining what 'net tax increment' excludes: (ia) administrative charges, fees, or costs for the City and County of San Francisco; (ib) the portion of tax increment revenues required to be set aside in the agency's Affordable Housing Fund pursuant to law; (ic) a portion equal to the percentage of revenue the successor agency is required to pay to all governmental entities as required by law; and (id) the portion equal to the percentage of revenues the State may mandate the successor agency to pay from time to time, including payments to the Education Revenue Augmentation Fund.

The pool of 'net tax increment' revenues available to pledge for Transbay infrastructure bonds is effectively reduced by the new exclusions, meaning less revenue can be committed to securing that debt. This could affect the agency's ability to issue large-scale bonds for Transbay-related infrastructure.