BILL NUMBER: SB 1058	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Lieu

                        FEBRUARY 13, 2012

   An act relating to the Victims of Corporate Fraud Compensation
Fund.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 1058, as introduced, Lieu. Victims of Corporate Fraud
Compensation Fund.
   Existing law establishes the Victims of Corporate Fraud
Compensation Fund within the State Treasury administered by the
Secretary of State, who is required to adopt regulations to
administer the fund. Moneys in the fund shall be used for the sole
purpose of providing restitution to victims of corporate fraud.
   This bill would express the intent of the Legislature to enact
legislation that would require that victims eligible to receive
restitution from the fund receive that restitution in a timely
manner.
   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.  It is the intent of the Legislature to enact
legislation that would require that victims eligible to receive
restitution under the Victims of Corporate Fraud Compensation Fund
receive that restitution in a timely manner.