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CALIF. SUPREME COURT RULES RDAS CAN BE ELIMINATED

Thursday, December 29, 2011 - 8:00AM

The California Supreme Court today ruled to uphold Assembly Bill 1X 26 and invalidate Assembly Bill 1X 27. In its opinion in the case of California Redevelopment Association v. Matosantos, the court found that redevelopment agencies (RDAs) do not have a protected right to exist that immunizes them from statutory dissolution by the Legislature; and that RDAs and their sponsoring communities do have a protected right not to make payments to various funds benefiting schools and special districts as a condition of continued operation.

Tune in to the Tax Credit Tuesday Podcast on January 3 to hear from Michael J. Novogradac, CPA, what this ruling means for affordable housing development in California. For questions about the ruling, contact James R. Kroger, CPA, at [email protected].

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