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Remember when portions of property taxes were used to pay for redevelopment projects? Now, if a bill introduced by Assemblyman Ben Hueso is approved, instead of property tax revenue paying for redevelopment projects, revenues could be used to promote renewable energy projects.
Assembly Bill 2551 would give city councilmembers across the state the authority to create "renewable energy zones," without voter approval. Each zone would be required to generate at least 10 megawatts of energy from wind, solar, or other sources.
Once that occurs, the city council could form a financing district which would allow them to use property tax revenues from that energy zone to promote additional renewable energy projects.
Remember when portions of property taxes were used to pay for redevelopment projects? Now, if a bill introduced by Assemblyman Ben Hueso is approved, instead of property tax revenue paying for redevelopment projects, revenues could be used to promote renewable energy projects.
Assembly Bill 2551 would give city councilmembers across the state the authority to create "renewable energy zones," without voter approval. Each zone would be required to generate at least 10 megawatts of energy from wind, solar, or other sources.
Once that occurs, the city council could form a financing district which would allow them to use property tax revenues from that energy zone to promote additional renewable energy projects.