On June 27, 2012, the Legislature passed and the Governor signed AB 1484, an FY 2012-13 budget trailer bill. AB 1484 makes technical and substantive amendments to ABx1 26, the bill enacted in late June 2011 that directed the dissolution and unwinding of the affairs of California’s 400 redevelopment agencies. AB 1484 took immediate effect upon signature by the Governor.
AB 1484 will require those involved in the redevelopment unwind process to learn and implement significant new rules of conduct just as they were beginning to adapt to and implement the already complex rules mandated by last year’s ABx1 26.
In particular, AB 1484 has added many new or modified actions and deadlines, with major compliance consequences, that need to be implemented in the very near future and throughout the Summer and Fall of 2012.
Click here for our Summary of AB 1484, highlighting key provisions of the bill and outlining upcoming milestone actions to implement its terms.