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SB-281 Cow Palace Authority.(2019-2020)

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Date Published: 04/11/2019 09:00 PM
SB281:v96#DOCUMENT

Amended  IN  Senate  April 11, 2019
Amended  IN  Senate  March 28, 2019
Amended  IN  Senate  March 20, 2019

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Senate Bill
No. 281


Introduced by Senator Wiener
(Principal coauthors: Assembly Members Chiu and Ting)
(Coauthor: Senator Hill)
(Coauthors: Assembly Members Berman and Mullin)

February 13, 2019


An act to add Section 4133 to the Food and Agricultural Code, and to add and repeal Title 7.7 (commencing with Section 67490) of the Government Code, relating to the Cow Palace Authority. Authority, and making an appropriation therefor.


LEGISLATIVE COUNSEL'S DIGEST


SB 281, as amended, Wiener. Cow Palace Authority.
(1) Existing law authorizes 2 or more public agencies, by agreement, to form a joint powers authority to exercise any power common to the contracting parties, as specified. Existing law authorizes the agreement to set forth the manner by which the joint powers authority will be governed.
Existing law divides the state into district agricultural associations for the purposes of, among other things, holding fairs and expositions exhibiting all of the industries and industrial enterprises, resources, and products of every kind or nature of the state with a view toward improving, exploiting, encouraging, and stimulating those industries. Existing law provides that the 1-A District Agricultural Association governs the agricultural district that encompasses the County of San Mateo and the City and County of San Francisco.
This bill, the Cow Palace Authority Act, would establish the Cow Palace Authority (hereafter “the authority”) for the purpose of managing, developing, or disposing of the real property known as the Cow Palace. The bill would establish the governing board of the authority, comprised of members appointed by the Mayor of the City of Daly City, the Mayor of the City and County of San Francisco, and the Board of Supervisors of the County of San Mateo. The bill would grant the board the power to exercise various duties, including the power to accept and receive grants, incur indebtedness, and raise revenue, subject to applicable voter approval requirements and other specified election procedures, as provided. The bill would also require the board to convene a Cow Palace Advisory Committee to assist and advise the board in carrying out its functions, as specified. The bill would further require the board of the authority to provide for regular audits of the authority and annual financial reports.
This bill would require the Director of General Services, in consultation with the Department of Food and Agriculture, on or before January 1, 2021, to enter into negotiations to sell, at fair market value, upon those terms and conditions, and subject to those reservations and exceptions that the director determines are in the best interest of the state, the real property known as the Cow Palace to be transferred from the 1-A District Agricultural Association to the authority on or before January 1, 2021, and would provide that the authority is the successor in interest to any contract entered into by the 1-A District Agricultural Association on or before December 31, 2019. the authority. The bill would require the director, if the director determines that the transfer of the Cow Palace is not in the best interest of the state, to submit a report to the Legislature explaining the reasons supporting this determination. This bill would make findings and declarations that this transfer constitutes a public purpose. This bill would authorize the authority to, among other things, enter into contracts or agreements for the development of the property for affordable and market-rate mixed-use housing and establish minimum local zoning standards, including, but not limited to, standards for height, density, parking, and floor area ratio, that apply to a project on the property that are different from those adopted by any other affected local jurisdiction. By increasing the duties of local officials, this bill would establish a state-mandated local program.
If the authority receives the Cow Palace, this bill would require a return filed with the California Department of Tax and Fee Administration (CDTFA) to report gross receipts for sales and use tax purposes to segregate the gross receipts of the seller and the sales price of the property on a line or a separate return as prescribed by the CDTFA when the place of sale in this state or for use in this state is on or within the Cow Palace. The bill would require the CDTFA to report the amount of the total gross receipts segregated on the returns filed pursuant to these provisions to the Department of Finance on or before November 1 of each year. The bill would require the CDTFA to estimate the total gross receipts segregated for the 2020–21 fiscal year by January 31, 2020, based on the 3rd quarter of 2019, and would require that an amount equal to 3/4 of 1% of this estimated amount be included in the Governor’s revised budget in May 2020 for allocation to fairs, as described. The bill would require the CDTFA to reconcile this first-year estimate with actual return data from the full 2020–21 fiscal year, and to then adjust this figure as appropriate as the amount to be reported to the Department of Finance on November 1, 2021.
The bill would require that an amount equal to 3/4 of 1% of the total amount of gross receipts reported to the Department of Finance be included in the next annual Governor’s Budget for the Department of Food and Agriculture for allocation to fairs, as described. The bill would require, upon the enactment of the Budget Act, that this amount be transferred by the Controller to the Fair and Exposition Fund, which is continuously appropriated, and would allocate these moneys to state-designated fairs for specified fair projects and subject to certain conditions. The bill would require the CDTFA to be paid the actual cost for administering those provisions, as specified.
By creating a new source of general fund revenue to be deposited into a continuously appropriated fund, the bill would make an appropriation.
(2) Existing law generally regulates the transfer of firearms. A violation of the statutes governing agricultural districts is generally a misdemeanor.
Existing law provides that it is an offense to bring or possess, among other things, a firearm within any state or local public building. Among other exceptions, existing law provides an exception for guns brought to a gun show conducted pursuant to specified provisions of law, including the Gun Show Enforcement and Security Act of 2000. A violation of this provision is a felony.
Existing law, the Gun Show Enforcement and Security Act of 2000, generally regulates gun shows and requires all firearms transfers at a gun show or event to be in accordance with applicable state and federal laws. A violation of the act is a misdemeanor or infraction, as specified.
This bill, on and after January 1, 2020, would prohibit the sale of firearms and ammunition on any property owned, occupied, operated, or controlled by, the 1-A District Agricultural Association or other state agency, for district or association purposes, or by the authority, except as provided in any contract entered into by the 1-A District Agricultural Association on or before December 31, 2019. The bill would exclude from its provisions a gun buy-back event held by a law enforcement agency. A violation of these prohibitions could be a felony, misdemeanor, or infraction pursuant to the provisions described above.
(3) This bill would make legislative findings and declarations as to the necessity of a special statute for the City and County of San Francisco, the City of Daly City, and the County of San Mateo.
The provisions of the bill would remain in effect until January 1, 2120.
By creating a new crime, this bill would impose a state-mandated local program.
(4) The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.
This bill would provide that with regard to certain mandates no reimbursement is required by this act for a specified reason.
With regard to any other mandates, this bill would provide that, if the Commission on State Mandates determines that the bill contains costs so mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.
Vote: MAJORITY2/3   Appropriation: NOYES   Fiscal Committee: YES   Local Program: YES  

The people of the State of California do enact as follows:


SECTION 1.

 Section 4133 is added to the Food and Agricultural Code, to read:

4133.
 (a) For purposes of this section, the following terms shall have the following meanings:
(1) “Ammunition” includes assembled ammunition for use in a firearm and components of ammunition, including smokeless and black powder, and any projectile capable of being fired from a firearm with deadly consequence.
(2) “Firearm” has the same meaning as defined in Section 12001 of the Penal Code.
(b) Notwithstanding any other law, on and after January 1, 2020, except as provided in any contract entered into on or before December 31, 2019, by the 1-A District Agricultural Association, no officer, agent, or employee of the 1-A District Agricultural Association or other state agency that owns, occupies, operates, or controls association property or other property in District 1a, as defined in Section 3853, used for district or association purposes, and no lessee or sublessee of, or licensee for use of, that property, may conduct, contract for, authorize, or allow the sale of any firearm or ammunition on any property owned, occupied, operated, controlled, leased, subleased, or licensed as described in this subdivision.
(c) This section does not apply to a gun buy-back event held by a law enforcement agency.

SEC. 2.

 Title 7.7 (commencing with Section 67490) is added to the Government Code, to read:

TITLE 7.7. Cow Palace Authority Act

CHAPTER  1. Findings and Declarations

67490.
 This title shall be known and may be cited as the “Cow Palace Authority Act.”

CHAPTER  2. Definitions

67490.2.
 Unless the context otherwise requires, the following definitions govern the construction of this title:
(a) “Advisory committee” means the Cow Palace Advisory Committee convened by the governing board of the Cow Palace Authority pursuant to Section 67490.4.7.
(b) “Authority” means the Cow Palace Authority established as a regional entity pursuant to Section 67490.3.
(c) “Board” means the governing board of the Cow Palace Authority created pursuant to Section 67490.4.
(d) “Cow Palace property,” “property,” or “real property known as the Cow Palace” means the entire area of the following parcel, regardless of whether the area is currently located within the territorial boundaries of the City and County of San Francisco, the City of Daly City, or the County of San Mateo.
Approximately 68 acres of land, not including improvements thereon, located at 2600 Geneva Avenue, Daly City, California, in the County of San Mateo, and identified by the San Mateo County Assessor parcel number 005050270.
(e) “Member” means a person appointed as a member of the governing board of the Cow Palace Authority pursuant to Section 67490.4.

CHAPTER  3. Cow Palace Authority

67490.3.
 (a) The Cow Palace Authority is hereby established as a regional entity with jurisdiction extending throughout the Cow Palace property area.
(b) The jurisdiction of the authority is not subject to the Cortese-Knox-Hertzberg Local Government Reorganization Act of 2000 (Division 3 (commencing with Section 56000) of Title 5).
(c) The Cow Palace Authority shall have the purpose of managing, developing, or disposing of the real property known as the Cow Palace.

67490.3.5.
 It is the intent of the Legislature that the authority should complement existing efforts by cities, counties, and districts, related to addressing the goals described in this title.

CHAPTER  4. Governing Body

67490.4.
 (a) The authority shall be governed by a board composed of seven voting members, as follows:
(1) Two members from the Board of Supervisors of the City and County of San Francisco appointed by the Mayor of the City and County of San Francisco.
(2) Three members from the City Council of the City of Daly City appointed by the Mayor of the City of Daly City.
(3) Two members from the Board of Supervisors of the County of San Mateo appointed by the Board of Supervisors of the County of San Mateo.
(b) Each member shall serve at the pleasure of their appointing authority. Each member may appoint an alternate to serve in their stead.

67490.4.1.
 The members of the board are subject to the Political Reform Act of 1974 (Title 9 (commencing with Section 81000)).

67490.4.2.
 A member shall exercise their independent judgment on behalf of the interests of the residents, the property owners, and the public as a whole in furthering the intent and purposes of this title.

67490.4.5.
 The board shall elect from its own members a chair and a vice chair who shall preside in the absence of the chair.

67490.4.6.
 (a) (1) The first meeting of the board shall occur on or before June 1, 2020.
(2) The time and place of the first meeting of the board shall be at a time and place within the County of San Mateo or San Francisco, as fixed by the chair of the board.
(b) After the first meeting described in subdivision (a), the board shall hold meetings at times and places determined by the board.
(c) Meetings of the board are subject to the Ralph M. Brown Act (Chapter 9 (commencing with Section 54950) of Part 1 of Division 2 of Title 5).

67490.4.7.
 (a) Not later than six months after the date of the board’s first meeting described in subdivision (a) of Section 67490.4.6, the board shall convene a Cow Palace Advisory Committee to assist and advise the board in carrying out the functions of the board. The advisory committee shall meet on a regular basis.
(b) The membership of the advisory committee shall be determined by the authority based upon criteria that provide a broad representation of community and agency interests within the authority’s jurisdiction over the Cow Palace property area. The membership of the advisory committee may include, but is not limited to, representatives from the following:
(1) State agencies, boards, or commissions.
(2) Nongovernmental organizations that operate in areas surrounding the Cow Palace property.
(3) Members of the public from the City and County of San Francisco, the City of Daly City, and the County of San Mateo.

67490.4.8.
 (a) The board is the legislative body of the authority and, consistent with this title, shall establish policies for the operation of the authority.
(b) The board may act either by ordinance or resolution in order to regulate the authority and to implement this title.
(c) Four voting members of the board shall constitute a quorum for the purpose of transacting any business of the board. A recorded majority vote of the total voting membership of the board is required on each action.

CHAPTER  5. Powers and Duties of the Authority
Article  1. General Provisions

67490.5.
 The authority has, and may exercise, all powers, expressed or implied, that are necessary to carry out the intent and purposes of this title, including, but not limited to, the power to do all of the following:
(a) Apply for and receive grants from federal and state agencies.
(b) Solicit and accept gifts, fees, grants, and allocations from public and private entities.
(c) Issue revenue bonds for any of the purposes authorized by this title pursuant to the Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300) of Part 1 of Division 2 of Title 5).
(d) Incur general obligation bonded indebtedness for the acquisition or improvement of real property or for funding or refunding of any outstanding indebtedness, subject to the following requirements:
(1) The principal and interest of any general obligation bonded indebtedness incurred pursuant to this subdivision shall be paid and discharged prior to January 1, 2061.
(2) For purposes of incurring general obligation bonded indebtedness pursuant to this subdivision, the authority shall comply with the requirements of Article 11 (commencing with Section 5790) of Chapter 4 of Division 5 of the Public Resources Code. For purposes of this subdivision, all references in Article 11 (commencing with Section 5790) of Chapter 4 of Division 5 of the Public Resources Code to a board of directors shall mean the board and all references to a district shall mean the authority.
(3) Notwithstanding any other law, the total amount of outstanding bonded indebtedness the authority may incur pursuant to this subdivision and subdivision (d) shall not exceed two billion dollars ($2,000,000,000).
(e) Receive and manage a dedicated revenue source.
(f) Deposit or invest moneys of the authority in banks or financial institutions in the state in accordance with state law.
(g) Sue and be sued, except as otherwise provided by law, in all actions and proceedings, in all courts and tribunals of competent jurisdiction.
(h) Engage counsel and other professional services.
(i) Enter into and perform all necessary contracts.
(j) Enter into joint powers agreements pursuant to the Joint Exercise of Powers Act (Chapter 5 (commencing with Section 6500) of Division 7 of Title 1).
(k) Hire staff, define their qualifications and duties, and provide a schedule of compensation for the performance of their duties.
(l) Use interim or temporary staff provided by appropriate state agencies. A person who performs duties as interim or temporary staff shall not be considered an employee of the authority.
(m) Own real property.

67490.5.05.
 (a) If the authority proposes a measure pursuant to subdivision (d) of Section 67490.5 that will generate revenues, the board of supervisors of the county or counties in which the measure is proposed shall call a special election on the measure. The special election shall be consolidated with the next regularly scheduled statewide election and the measure shall be submitted to the voters in the appropriate counties, consistent with the requirements of Articles XIII A, XIII C, and XIII D of the California Constitution, as applicable.
(b) (1) The authority is a district, as defined in Section 317 of the Elections Code. Except as otherwise provided in this section, a measure proposed by the authority that requires voter approval shall be submitted to the voters of the authority in accordance with the provisions of the Elections Code applicable to districts, including the provisions of Chapter 4 (commencing with Section 9300) of Division 9 of the Elections Code.
(2) Because the authority has no revenues as of the effective date of this paragraph, the appropriations limit for the authority shall be originally established based on receipts from the initial measure that would generate revenues for the authority pursuant to subdivision (a), and that establishment of an appropriations limit shall not be deemed a change in an appropriations limit for purposes of Section 4 of Article XIII B of the California Constitution.
(c) The authority shall file with the board of supervisors of each county in which the measure shall appear on the ballot a resolution of the authority requesting consolidation, and setting forth the exact form of the ballot question, in accordance with Section 10403 of the Elections Code.
(d) The legal counsel for the authority shall prepare an impartial analysis of the measure. The impartial analysis prepared by the legal counsel for the authority shall be subject to review and revision by the county counsel of the county that contains the largest population, as determined by the most recent federal decennial census, among those counties in which the measure will be submitted to the voters.
(e) Each county included in the measure shall use the exact ballot question, impartial analysis, and ballot language provided by the authority. If two or more counties included in the measure are required to prepare a translation of ballot materials into the same language other than English, the county that contains the largest population, as determined by the most recent federal decennial census, among those counties that are required to prepare a translation of ballot materials into the same language other than English shall prepare the translation and that translation shall be used by the other county or counties, as applicable.
(f) Notwithstanding Section 13116 of the Elections Code, if a measure proposed by the authority pursuant to this article is submitted to the voters of the authority in two or more counties, the elections officials of those counties shall mutually agree to use the same letter designation for the measure.
(g) The county clerk of each county shall report the results of the special election to the authority.
(h) (1) Notwithstanding Section 10520 of the Elections Code, for the first election at which the authority proposes a measure pursuant to subdivision (a) or (e) of Section 67490.5 that would generate revenues, the authority shall reimburse each county in which that measure appears on the ballot only for the incremental costs incurred by the county elections official related to submitting the measure to the voters.
(2) For purposes of this subdivision, “incremental costs” include all of the following:
(A) The cost to prepare, review, and revise the impartial analysis of the measure that is required by subdivision (d).
(B) The cost to prepare a translation of ballot materials into a language other than English by any county, as described in subdivision (e).
(C) The additional costs that exceed the costs incurred for other election races or ballot measures, if any, appearing on the same ballot in each county in which the measure appears on the ballot, including both of the following:
(i) The printing and mailing of ballot materials.
(ii) The canvass of the vote regarding the measure pursuant to Division 15 (commencing with Section 15000) of the Elections Code.

67490.5.3.
 All records prepared, owned, used, or retained by the authority are public records for purposes of the California Public Records Act (Chapter 3.5 (commencing with Section 6250) of Division 7 of Title 1).

Article  2. Grant Program

67490.5.4.
 (a) The authority may raise funds and award grants to public and private entities.
(b) In awarding grants pursuant to subdivision (a), the authority shall give priority to projects that, to the greatest extent possible, contribute to goals of this act.
(c) In reviewing and assessing projects, the authority shall solicit input from the advisory committee convened pursuant to Section 67490.4.7. The authority shall adopt a procedure for evaluating proposals in consultation with the advisory committee.
(d) Grants awarded pursuant to subdivision (a) may be used to support all phases of planning, construction, monitoring, operation, and maintenance for projects that are eligible pursuant to subdivision (b).

Article  3. Cow Palace Property

67490.5.5.
 (a) (1) On or before January 1, 2021, the Director of General Services, in consultation with the Department of Food and Agriculture, shall enter into negotiations to sell, at fair market value, upon those terms and conditions, and subject to those reservations and exceptions that the director determines are in the best interest of the state, to sell the real property known as the Cow Palace shall be transferred to the authority formed pursuant to Section 67490.3.

(1)It is the intent of the Legislature to ensure that the transfer of the real property known as the Cow Palace to the authority does not result in a loss of revenue to the state, and to allow this transfer to include a process for the authority to raise funds locally to reimburse the state for the transfer of the property.

(2)It is the intent of the Legislature that this transfer occurs in order to address longstanding community concerns with the Cow Palace, but not to create a precedent for other local agencies to take control of property owned by a district agricultural association.

(b)The authority shall be the successor in interest to any contracts relating to the real property known as the Cow Palace.

(2) Nothing in this section shall be interpreted to require the director to sell the Cow Palace if the director, after good faith negotiations, determines that it is not in the best interest of the state to sell the Cow Palace to the authority.
(3) Nothing in this section prohibits the director from entering into a contract for the sale of the Cow Palace the terms of which permit the transfer of the property to the authority before the state receives full payment for the property if the director determines that those terms are in the best interest of the state.
(b) If the director determines that the transfer of the Cow Palace is not in the best interest of the state, the director shall submit a report to the Legislature explaining the reasons supporting this determination.
(c) (1) The requirement for submitting a report imposed under subdivision (b) is inoperative on January 1, 2024, pursuant to Section 10231.5 of the Government Code.
(2) A report to be submitted pursuant to subdivision (b) shall be submitted in compliance with Section 9795 of the Government Code.

67490.5.6.
 (a) The authority shall receive If the authority receives the property and it may take any of the following actions:
(1) Enter into contracts or agreements for the demolition of existing structures on the property.
(2) (A) Enter into contracts or agreements for the development of the property for affordable and market-rate mixed-use housing.
(B) (i) The authority may establish minimum local zoning standards, including, but not limited to, standards for height, density, parking, and floor area ratio, that apply to a project on the property that are different from those adopted by any other affected local jurisdiction. In adopting those standards, the authority shall follow standards set forth by the Legislature to promote robust transit-oriented, mixed-use development on the property. These standards shall include, but are not limited to, wages and labor protections for construction workers, affordability of onsite housing units, minimum density for the site, and minimum residential threshold.
(ii) The authority shall serve as the lead agency for any California Environmental Quality Act (Division 13 (commencing with Section 21000) of the Public Resources Code) review of standards adopted pursuant to this subdivision.
(iii) Zoning in effect as a result of this section shall be considered the same as locally approved zoning for all purposes, including the density bonus law (Chapter 4.3 (commencing with Section 65915) of Division 1 of Title 7) and the Housing Accountability Act (Section 65589.5).
(3) (A) Continue to operate the property as it was being operated before the transfer of the real property to the authority.
(B) This section shall not be interpreted to interfere with any contract entered into by 1-A District Agricultural Association on or before December 31, 2019. The authority shall be the successor in interest to any contract related to the property that was entered into by the 1-A District Agricultural Association on or before December 31, 2019.
(C) (i) Notwithstanding any other law, on and after January 1, 2020, except as provided in any contract entered into on or before December 31, 2019, by the 1-A District Agricultural Association, the authority shall not conduct, contract for, authorize, or allow the sale of any firearm or ammunition on the property or in the buildings that comprise the property, or on any successor or additional property owned, occupied, operated, controlled, leased, subleased, or licensed by the authority.
(ii) This subparagraph does not apply to a gun buy-back event held by a law enforcement agency.
(b) The If the authority receives the property, it shall be the successor to all powers, functions, and duties formerly held by the 1-A District Agricultural Association with regard to the property.
(c) (1) If the authority receives the property, notwithstanding any other law, a return filed with the California Department of Tax and Fee Administration (CDTFA) to report gross receipts for sales and use tax purposes shall segregate the gross receipts of the seller and the sales price of the property on a line or a separate form as prescribed by the CDTFA when the place of sale in this state or for use in this state is on or within the real property known as the Cow Palace.
(2) The CDTFA shall add a line to a current return, or develop a separate return for purposes of this section.
(3) The CDTFA shall report the amount of the total gross receipts segregated on the returns filed pursuant to paragraph (1) to the Department of Finance on or before November 1 of each year.
(4) The CDTFA shall estimate the total gross receipts segregated for the 2020–21 fiscal year by January 31, 2020, based on the third quarter of 2019. Subject to the appropriation described in paragraph (5), an amount equal to three-quarters of 1 percent of this estimated amount shall be included in the Governor’s revised budget in May 2020 for allocation to fairs pursuant to Section 19620.2 of the Business and Professions Code. The CDTFA shall reconcile this first-year estimate with actual return data from the full 2020–21 fiscal year, and then adjust this figure as appropriate as the amount to be reported to the Department of Finance on November 1, 2021.
(5) An amount equal to three-quarters of 1 percent of the total amount of gross receipts reported to the Department of Finance specified in paragraph (4) shall be included in the next annual Governor’s Budget for the Department of Food and Agriculture for allocation to fairs pursuant to Section 19620.2 of the Business and Professions Code. Upon the enactment of the Budget Act, the amount determined pursuant to this section shall be transferred by the Controller to the Fair and Exposition Fund in the State Treasury, and shall be continuously appropriated and allocated pursuant to Section 19620.2 of the Business and Professions Code.
(6) The CDTFA shall be paid the actual cost for administering the provisions of this subdivision from the funds appropriated pursuant to paragraph (5) before any allocation is made to fairs in accordance with Section 19620.2 of the Business and Professions Code.

(c)

(d) The Legislature finds and declares that there currently is a housing crisis in California and it is essential to utilize available spaces for the development of affordable housing. Therefore, the Legislature finds and declares that the transfer of property pursuant to this section for purposes of developing affordable and market-rate mixed-use housing constitutes a public purpose and does not constitute a gift of public funds within the meaning of Section 6 of Article XVI of the California Constitution.

(d)

(e) For purposes of this section, the following terms apply:
(1) “Ammunition” includes assembled ammunition for use in a firearm and components of ammunition, including smokeless and black powder, and any projectile capable of being fired from a firearm with deadly consequence.
(2) “Firearm” has the same meaning as defined in Section 12001 of the Penal Code.
(3) “Local jurisdiction” means a city, including a charter city, a county, or a city and county.
(4) “Property” means the property known as the Cow Palace transferred to the authority pursuant to Section 67490.5.5.

CHAPTER  6. Financial Provisions

67490.6.
 (a) The board shall provide for regular audits of the authority’s accounts and records and shall maintain accounting records and shall report accounting transactions in accordance with generally accepted accounting principles adopted by the Government Accounting Standards Board of the Financial Accounting Foundation for both public reporting purposes and for reporting of activities to the Controller.
(b) The board shall provide for annual financial reports. The board shall make copies of the annual financial reports available to the public.

67490.6.5.
 The authority shall be funded through gifts, donations, grants, state or local bonds, assessments, other appropriate funding sources, and other types of financial assistance from public and private sources.

CHAPTER  7. Repeal

67490.7.
 This title shall remain in effect only until January 1, 2120, and as of that date is repealed.

SEC. 3.

 The Legislature finds and declares that a special statute is necessary and that a general statute cannot be made applicable within the meaning of Section 16 of Article IV of the California Constitution because of the unique needs facing the City and County of San Francisco, the City of Daly City, and the County of San Mateo in providing affordable housing within their jurisdictions.

SEC. 4.

 No reimbursement is required by this act pursuant to Section 6 of Article XIII B of the California Constitution for certain costs that may be incurred by a local agency or school district because, in that regard, this act creates a new crime or infraction, eliminates a crime or infraction, or changes the penalty for a crime or infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIII B of the California Constitution.
However, if the Commission on State Mandates determines that this act contains other costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.