BILL NUMBER:  AB 2080
  VETOED	DATE: 09/29/2010




To the Members of the California State Assembly:

I am returning Assembly Bill 2080 without my signature.

This bill, authorizing securitization of Build America Bonds federal
interest subsidy payments, may provide a mechanism to borrow very
expensively to avoid needed budget adjustments for just one year, at
high costs to future budgets.  Alternatively this could be a
substitute for general obligation bonds for large projects, avoiding
the required two-thirds voter approval.  In either case, this is not
good fiscal policy.

For these reasons I am unable to sign this bill.

Sincerely,



Arnold Schwarzenegger