California Health and Safety Code

§ 34183.1

HSC § 34183.1 Effective Jan 1, 2022Div. 24 · Part 1.85 · Ch. 5

Statute text

(a)Notwithstanding paragraph (1) of subdivision (a) of Section 34183 or any other law, a successor agency and one or more taxing entities may enter into an agreement to modify the interest owed by a former redevelopment agency under a passthrough agreement that was entered into before January 1, 1994, or owed under any successive amendment of that passthrough agreement, and which is owed as interest on passthrough payments agreed to be deferred by the taxing entity under the passthrough agreement.

(b)An agreement entered into pursuant to this section shall be subject to the following:

(1)Beginning on the effective date of the agreement entered into pursuant to this section, the interest rate for any passthrough agreement as modified pursuant to this section shall be 0 percent.

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Legislative history

Added by Stats. 2021, Ch. 221, Sec. 2. (SB 734) Effective January 1, 2022.