(a) “Eligible property” means a site that is any of the following:
(1) A brownfield.
(2) An underutilized property that is a property described in paragraph (5) of subdivision (d) of Section 80275.
(3) An underutilized property that is a property located in any of the following:
(A) An enterprise zone established pursuant to the former Enterprise Zone Act (former Chapter 12.8 (commencing with Section 7070) of Division 7 of Title 1 of the Government Code).
(B) A project area for which a redevelopment plan has been approved pursuant to Article 4 (commencing with Section 33330) of Chapter 4 of Part 1 of Division 24.
(C) An eligible area, as determined pursuant to paragraph (2) of subdivision (c) of former Section 7072 of the Government Code.
(4) An underutilized property that is a property, the redevelopment of which will result in any of the following:
(A) An increase in the number of full-time jobs that is at least 100 percent greater than the number of jobs provided by the economic activity located on the property before redevelopment occurred.
(B) An increase in property taxes paid to the local government that is at least 100 percent greater than the property taxes paid by the property owner before redevelopment occurred.
(C) Sales tax revenues to the local government that are sufficient to defray the costs of providing municipal services to the property after the redevelopment occurs.
(D) Housing for very low, low-, or moderate-income households, as defined in paragraph (3) of subdivision (h) of Section 65589.5 of the Government Code.
(E) The construction of new or expanded school facilities, public day care centers, parks, or community recreational facilities.
(5) A brownfield or an underutilized property described in paragraph (3) that will be the site of a contiguous expansion of an operating industrial or commercial facility owned or operated by one of the following:
(A) A small business.
(B) A nonprofit corporation formed under the Nonprofit Public Benefit Corporation Law (Part 2 (commencing with Section 5110) of Division 2 of Title 1 of the Corporations Code) or the Nonprofit Religious Corporation Law (Part 4 (commencing with Section 9110) of Division 2 of Title 1 of the Corporations Code).
(C) A small business incubator that is undertaking the expansion with the assistance of a loan guarantee provided pursuant to Section 63089.71 of the Government Code.
(b) “Eligible property” does not include any of the following:
(1) Property listed or proposed for listing on the National Priorities List pursuant to Section 105(a)(8)(B) of the federal act (42 U.S.C. Sec. 9605 (a)(8)(B)).
(2) Property that is, or was, owned or operated by a department, agency, or instrumentality of the United States.
(3) Property that will be the site of a contiguous expansion or improvement of an operating industrial or commercial facility, unless the property meets the criteria specified in paragraph (5) of subdivision (a).
(Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.)