BILL NUMBER: AB 1855	CHAPTERED  07/23/04

	CHAPTER  189
	FILED WITH SECRETARY OF STATE  JULY 23, 2004
	APPROVED BY GOVERNOR  JULY 23, 2004
	PASSED THE SENATE  JULY 12, 2004
	PASSED THE ASSEMBLY  MAY 20, 2004
	AMENDED IN ASSEMBLY  APRIL 28, 2004

INTRODUCED BY   Assembly Member Maze

                        JANUARY 29, 2004

   An act to amend Section 63040 of the Government Code, relating to
economic development.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1855, Maze.  California Infrastructure and Economic Development
Bank: financing.
   The Bergeson-Peace Infrastructure and Economic Development Bank
Act requires the California Infrastructure and Economic Development
Bank to establish criteria, priorities, and guidelines for the
selection of projects to receive assistance from the bank, to be
based on a minimum of specified factors.
   This bill would require the bank to notify the Governor, the
fiscal and policy committees of the Legislature that exercise
legislative oversight of the bank, and appropriate state and local
agencies, when the bank establishes or makes changes to the criteria,
priorities, and guidelines for project selection.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:


  SECTION 1.  Section 63040 of the Government Code is amended to
read:
   63040.  (a) Following consultation with appropriate state and
local agencies, the bank shall establish criteria, priorities, and
guidelines for the selection of projects to receive assistance from
the bank.  Projects shall comply with the criteria, priorities, and
guidelines adopted by the bank.
   (b) The criteria, priorities, and guidelines shall, at a minimum,
be based upon the following:
   (1) The State Environmental Goals and Policy Report, or its
successor, approved pursuant to Article 5 (commencing with Section
65041) of Chapter 1.5 of Division 1 of Title 7.
   (2) If the sponsor is a state agency, board, commission, or
department, the Capital and Infrastructure Project Planning Report,
prepared by the Director of Finance pursuant to Article 2 (commencing
with Section 13100) of Chapter 2 of Part 3 of Division 3 of Title 2.

   (c) When the bank establishes or makes changes to the criteria,
priorities, and guidelines, the bank shall notify the Governor, the
fiscal and policy committees of the Legislature that exercise
legislative oversight of the bank, and appropriate state and local
agencies.
   (d) The resolution required in Section 63041 shall have been
adopted prior to the project's selection by the bank.