HB 1201 would allow a public facilities district to use local sales and use tax proceeds to repay bonds issued not only for construction, but also for the expansion, rehabilitation and improvement of regional centers. It would also extend the authorization for local sales and use taxes for regional centers and regional theaters from 25 years to up to 40 years, assuming bonds have not yet been retired.
HB 1201 had a public hearing in the House Finance Committee on February 17. AWC is supportive of this legislation and will continue to monitor its progress.