The authority, subject to prior approval by the executive board, may raise and allocate new revenue through both of the following funding mechanisms:

(a) (1) Special taxes, subject to voter approval, as provided in Article 1 (commencing with Section 64610) of Chapter 2, as follows:

(A) A parcel tax, as provided in Section 64610.

(B) A gross receipts business license tax, as provided in Section 64611.

(C) A special business tax, as provided in Section 64612.

(2) A commercial linkage fee, as provided in Article 2 (commencing with Section 64620) of Chapter 2.

(b) Any funding mechanism or combination of funding mechanisms authorized pursuant to paragraph (1) that requires voter approval pursuant to the California Constitution or this part may be placed on the ballot in all or a subset of the nine counties in the San Francisco Bay area, but in no case shall it be placed on the ballot in fewer than four counties. A measure placed on the ballot in a subset of those nine counties shall apply only in those counties in which the measure was submitted to the voters.

(c) It is the intent of the Legislature that the funding measures authorized by this subdivision distribute the responsibility for addressing the affordable housing needs of the region across commercial developers, businesses above a certain size, taxpayers, and property owners within the region.

(Added by Stats. 2019, Ch. 598, Sec. 1. (AB 1487) Effective January 1, 2020.)