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AB 080 AssemDly Bill - 13xll Analysts ' "~ .... <br /> <br /> AB 680 <br /> Page <br /> <br /> Date of Hearing: January 24, 2002 <br /> <br /> ASSEMBLY COMMITTEE ON APPROPRIATIONS Carole Migden, Chairwoman <br /> <br /> AB 680 (Steinberg) - As Amended: January 14, 2002 <br /> <br /> Policy Committee: Local <br /> GovernmentVote:6-3 <br /> Revenue and Taxation 6-2 <br /> Urgency: No State Mandated Local Program: <br /> Yes Reimbursable: No <br /> <br /> SUMMARY <br /> <br /> This bill reallocates sales tax revenue among cities and <br /> counties in the six-county greater Sacramento region and <br /> provides transportation and housing funding incentives for <br /> agencies in the region to adhere to "smart growth" principles. <br /> Specifically, this bill: <br /> 1)Sales Tax Allocation Changes the formula by which the Board <br /> of Equalization (BOE) allocates the 1% local sales tax rate <br /> (i.e., the Bradley-Burns sales tax) within the greater <br /> Sacramento region, defined as the combined area of the <br /> counties of E1 Dorado, Placer, Sacramento, Sutter, Yolo and <br /> Yuba. <br /> <br /> Under existing law, the 1% rate is allocated to cities and <br /> counties on a situs basis (i.el, according to the point of <br /> sale). Beginning January 1, 2003, each city and county would <br /> receive the same amount of the 1% rate it received in the 2002 <br /> calendar year, but the growth in sales tax revenue above the <br /> 2002 base amount would be allocated according to the following <br /> formula: <br /> <br /> _a) Situs One-third would be apportioned according to <br /> cities and counties on a situs basis. <br /> <br /> b) Per Capita One-third would be apportioned to cities <br /> and counties on a per capita basis. <br /> <br /> c) Situs - Housinq Eliqible One-third would be <br /> apportioned on a situs basis to "housing eligible" cities <br /> <br /> http://info.sen.ca.gov/pub/bill/asm/ab_0651-0700/ab 680 cfa 20020128_163947_asm_co... 1/29/2002 <br /> <br /> <br />