Subdivision Map Act: security.

Assembly Member Quirk-Silva's proposal to modify California's Subdivision Map Act would prohibit local agencies from requiring financial securities for privately owned and maintained improvements within subdivisions, marking a shift in how development projects secure their obligations.

The measure creates new limitations on local agency authority while preserving state-level oversight. Local agencies would no longer be able to mandate security deposits or bonds for improvements that will remain under private ownership and maintenance. Additionally, they could not condition subdivision approvals or other development permits on the furnishing of such securities. The bill maintains the existing authority of the Real Estate Commissioner and Department of Real Estate to oversee financial arrangements for offsite improvements and community facilities, including their role in issuing public reports and evaluating subdivision offerings.

This change to the Subdivision Map Act would alter how local agencies and developers interact during the subdivision approval process. While local agencies would need to modify existing policies that require securities for private improvements, the Real Estate Commissioner would retain oversight of financial arrangements for broader community amenities and offsite work. The measure includes no direct fiscal impacts or changes to existing regulatory structures beyond the specific prohibition on local security requirements for private improvements.