As debates and hearings over the fate of redevelopment have raged on, the Governor's Office has been drafting legislation that would eliminate redevelopment much as the governor has proposed. A strongly worded preamble lays out the case for the governor's position, and, in anticipation of potential legal battles, it claims that "the Constitution does not explicitly state that redevelopment agencies must exist and, unlike other entities such as counties, does not limit the Legislature's control over that existence."
Though agencies have been feverishly approving new projects while deliberations have taken place, the legislation would nullify those new obligations so "that the greatest amount of funding be realized from these actions to fund core governmental services." The legislation estimates that local entities will receive $1.9 billion per year in new resources.
For the full text of trailer bill 502 RDA Legislation: Redevelopment Agency Dissolution and Succession please download the pdf from the Department of Finance website.