BILL NUMBER:  AB 700
  VETOED	DATE: 10/05/2011




To the Members of the California State Assembly:

I am returning Assembly Bill 700 without my signature.

This bill takes the state's Infrastructure Bank (I-Bank) out of the
Business, Transportation and Housing Agency and makes it a
stand-alone agency reporting directly to the Governor.

I agree with the author that the I-Bank can be better situated so
that it operates more effectively. Toward that end, I will propose a
reorganization plan in connection with the upcoming budget that will
include changes in the I-Bank.  I hope to work with the author to
achieve our mutual goals.

Sincerely,



Edmund G. Brown Jr.