BILL NUMBER: AB 1556	INTRODUCED
	BILL TEXT


INTRODUCED BY   Committee on Jobs, Economic Development, and the
Economy (V. Manuel Perez (Chair), Beall, Block, Huber, and Salas)

                        MARCH 11, 2009

   An act to amend Section 50826 of the Health and Safety Code,
relating to community development.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1556, as introduced, Committee on Jobs, Economic Development,
and the Economy. Community development: grants.
   Existing law requires the Department of Housing and Community
Development to allocate funds under the federal Community Development
Block Grant Program to cities and counties.
   This bill would define the term "qualified financial intermediary"
for purposes of this program.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


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

  SECTION 1.  Section 50826 of the Health and Safety Code is amended
to read:
   50826.  As used in this chapter:
   (a) "Eligible city or county" means an area  which
  that  is not a metropolitan city or part of an
urban county, as defined by paragraphs (4) and (6), respectively, of
subsection (a) of Section 5302 of Title 42 of the United States Code.

   (b) "NOFA" means notice of funding availability, a public
announcement that an estimated amount of funding will be awarded by a
department program according to specified criteria and schedules.

   (c) "Qualified financial intermediary" means a nonprofit
organization certified by the department to administer small business
land and grant programs for one or more eligible city or county
jurisdictions.  
   (c) 
    (d)  "Persons and families of low or moderate income"
means persons and families whose income does not exceed 80 percent of
the area median income, adjusted for family size, as determined
pursuant to regulations adopted by the department. 
   (d) 
    (e)  "Program" means the State Community Development
Block Grant Program created pursuant to federal law (42 U.S.C. 5301,
et seq.).
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