BILL NUMBER: AB 621	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  APRIL 25, 2013
	AMENDED IN ASSEMBLY  MARCH 19, 2013

INTRODUCED BY   Assembly Member Wagner
    (   Coauthors:   Assembly Members 
 Beth Gaines  and Harkey   ) 

                        FEBRUARY 20, 2013

   An act to add Section 53593.5 to the Government Code, relating to
local government.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 621, as amended, Wagner. Local government: bonds.
   Existing law prohibits an investment firm, as defined, from having
specified interests in a new issue of bonds from a local agency.
   This bill would prohibit a local agency from entering into a
financial advisory, legal advisory, underwriting, or similar
relationship with an individual or firm, with respect to a bond issue
that requires voter approval on or after January 1, 2014, if that
individual or firm, or an employee, agent, or person related  ,
as defined,  to an employee or agent of the individual or firm,
provided or will provide bond campaign services, as defined, to the
bond campaign.
   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.  Section 53593.5 is added to the Government Code, to
read:
   53593.5.  (a) A local agency shall not enter into a financial
advisory, legal advisory, underwriting, or other similar relationship
with an individual or firm, with respect to a new issue of bonds
that requires voter approval on or after January 1, 2014, if that
individual or firm, or an employee, agent, or person related to an
employee or agent of the individual or firm, provided or will provide
bond campaign services to the bond campaign. 
   (b) For purposes of this section, "related" includes, but is not
limited to, a family relationship by blood or marriage, a financial
relationship, an affiliation between business associations, or
business associations with directors or principals in common.
 
   (c) (1) For purposes of this section, "bond  
   (b) As used in this section: 
    (1)     (A)     "Bond
 campaign services" includes fundraising, donation by the
individual or firm to the bond campaign, public opinion polling,
election strategy and management, organization of campaign
volunteers, get-out-the-vote services, development of campaign
literature, and advocacy materials. 
   (2) 
    (B)  "Bond campaign services" does not include either of
the following: 
   (A) 
    (i)  Advice and support related to the preparation of
tax rate statements and other documentation required for inclusion in
the voter pamphlet published by the applicable county registrar of
voters. 
   (B) 
    (ii)  Public opinion polling that is conducted before a
bond measure is placed on the ballot for the purposes of gathering
information regarding, and evaluating the potential for, the adoption
of the bond measure by the electorate. 
   (2) "Related" includes, but is not limited to, a family
relationship by blood or marriage, a financial relationship, an
affiliation between business associations, or business associations
with directors or principals in common.