§ 63047.1. — 63047.1. (Added by Stats. 2021, Ch. 356, Sec. 4.)

California § 63047.1.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 1.
• Title 6.7.: DIVISION 1. THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT
• Ch. 2.: CHAPTER 2. California Infrastructure and Economic Development Bank
• Art. 5.5.: ARTICLE 5.5. Financing Public Development Facilities

Text

Any housing financed pursuant to this chapter shall meet all of the following conditions:
(a)
Any tax-exempt revenue bonds issued by the bank under a state allocation of private activity bond volume cap pursuant to Section 63045 shall not finance any housing component of a public development facility.
(b)
No funds from the Infrastructure State Revolving Fund Program shall be used to finance any housing component of a public development facility.
(c)
Any housing financed is required for the operation of the facilities.
(d)
Any housing financed shall be incidental to the overall project and the cost of the housing component shall not represent more than 20 percent of the overall project costs financed by the bank.

Legislative History

Added by Stats. 2021, Ch. 356, Sec. 4. (AB 1297) Effective January 1, 2022.