In a ruling that could cause the Valley’s redevelopment agencies — and about 400 state-wide to shutter — the California Supreme Court ruled Thursday the legislature can dissolve the agencies, but lacks the power to require them to share revenue in order to stay open. The judgment could spell doom for agencies in Los Angeles, Burbank, Glendale, Lancaster and other municipalities across the Southland and California. Facing another multi-billion dollar budget shortfall, the legislature passed two laws last summer, one that would close the agencies and another which would have allowed them to remain open if they shared some of their revenue with Sacramento. With a goal to spruce up blighted areas, the agencies glean a portion of property tax revenue — that otherwise would go to schools and more — from certain districts in order to fund redevelopment projects. The California Redevelopment Association and others sued to invalidate both laws based on a proposition voters passed in 2010 that limited the legislature’s power to raid local funds. The court on Thursday upheld the first law, but struck down the second, saying that the proposition does not restrict the state’s power to shutter the agencies, but that it “expressly forbids the legislature from requiring such payments” as a condition for the agencies to remain in business. Chief Justice Tani Cantil-Sakauye dissented from the majority on the second issue, writing that allowing the agencies to stay open if they shared revenue was not unconstitutional. For more on the ruling’s effects on the Valley read our coming issue due out Jan. 9.