BILL ANALYSIS SB 1477 Page 1 Date of Hearing: June 29, 2010 ASSEMBLY COMMITTEE ON ENVIRONMENTAL SAFETY AND TOXIC MATERIALS Pedro Nava, Chair SB 1477 (Senate Environmental Safety Committee) - As Introduced: March 1, 2010 SENATE VOTE : 33-0 SUBJECT : California Pollution Control Financing Authority. SUMMARY : Makes various changes to the financial and administrative provisions of the California Pollution Control Financing Authority (CPCFA) Act, including changes to the definitions of "project," and "pollution control facility." Declares that the changes are to take effect immediately as an urgency statute. EXISTING LAW : Establishes the CPCFA with specified powers and duties, and authorizes the CPCFA to approve financing for projects or pollution control facilities to prevent or reduce environmental pollution (Health and Safety Code 44500 et seq.). FISCAL EFFECT : Unknown. COMMENTS : According to the author, "This bill makes technical, non-controversial changes to the governing statute for CPCFA, which includes changes to the definition of "project" and "pollution control facility." These unopposed changes come at the recommendation of the Attorney General's office as a means to both modernize and update language in order to meet the intention of last year's SB 832." SB 832 (Senate Committee on Environmental Quality), Chapter 643, Statutes of 2009, made various changes to the financial and administrative provisions of the CPCFA, including making state agencies eligible participating parties for financing The California State Treasurer's office states, "Last minute amendments to SB 832 [in 2009] had the unintended consequence of limiting whether CPCFA could fund environmental projects to qualify for tax exempt financing under federal law. SB 832 was intended to clearly allow such financing. However, the amendment has been interpreted by the Attorney General's office as limiting federally allowable projects to those which also meet a more narrow state definition. For these reasons, SB 1477 SB 1477 Page 2 seeks to clarify the project definition." REGISTERED SUPPORT / OPPOSITION : Support California State Treasurer (sponsor) Opposition None received. Analysis Prepared by : Shannon McKinney / E.S. & T.M. / (916) 319-3965