July 18, 2012
AB 1484, the redevelopment trailer bill, required successor agencies to remit payments by July 12 or be subject to penalties including the withholding of sales and use tax revenues beginning today. However, due to the strict time frame it appears that the Board of Equalization (BOE) will not make adjustments until August.
Key words: Economic Development, Redevelopment, Successor Agencies, Revenue and Taxation, Municipal Finance
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