California Health and Safety Code

§ 34182.1

HSC § 34182.1 Effective Jan 1, 2025Div. 24 · Part 1.85 · Ch. 5

Statute text

(a)Until a final resolution of dissolution for the successor agency to the former Orange County Development Agency has been submitted to the Orange County Auditor-Controller pursuant to subdivision (f) of Section 34187, the Orange County Auditor-Controller shall allocate property tax revenues attributable to the El Toro Project Area between the Redevelopment Property Tax Fund established for the former Orange County Development Agency and the Redevelopment Property Tax Trust Fund established for the former Lake Forest Redevelopment Agency as follows:

(1)All property tax revenues deposited by the Orange County Auditor-Controller pursuant to paragraph (1) of subdivision (c) of Section 34182 during each fiscal year that are attributable to the Neighborhood Preservation and Development Project Area, including the El Toro Project Area, shall initially be placed into the Redevelopment Property Tax Trust Fund for the former Orange County Development Agency.

(2)After deducting the administrative costs allowed under Section 34182 and Section 95.3 of the Revenue and Taxation Code, as described in subdivision (a) of Section 34183, and remitting the amounts required under paragraph (1) of subdivision (a) of Section 34183, the Orange County Auditor-Controller shall transfer the sum of both of the following, determined for the entire fiscal year, into the redevelopment obligation retirement fund of the successor agency to the Orange County Development Agency for distribution as required by law and applicable bond covenants:

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Legislative history

Amended by Stats. 2024, Ch. 80, Sec. 90. (SB 1525) Effective January 1, 2025.