BILL NUMBER: AB 696	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Hueso

                        FEBRUARY 17, 2011

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


	LEGISLATIVE COUNSEL'S DIGEST


   AB 696, as introduced, Hueso. Bergeson-Peace Infrastructure and
Economic Development Bank Act.
   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 a project selected to receive assistance
from the bank to additionally have economic development benefits and
meet land use criteria.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


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  and comply with the requirements
of subdivision (b)  . 
   (b) The bank shall only select a project to receive assistance
pursuant to this section if the project meets both of the following
criteria: 
    (1)     (A)     The
project has economic development benefits.  
   (B) For purposes of this paragraph, a project has economic
development benefits if the project would provide for some
quantitative level of economic benefit, including, but not limited
to, the creation or retention of jobs, growth of the property tax
base, growth of sales tax revenues, or as otherwise determined by the
bank.  
   (2) The project meets land use criteria.  
   (b) 
    (c)  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) 
    (d)  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) 
    (e)  The resolution required in Section 63041 shall have
been adopted prior to the project's selection by the bank.