BILL NUMBER: AB 701	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member John A. Pérez

                        FEBRUARY 21, 2013

   An act to amend Section 63021.5 of, and to add Section 63024.2 to,
the Government Code, relating to economic development.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 701, as introduced, John A. Pérez. California Infrastructure
and Economic Development Bank.
   Existing law establishes the California Infrastructure and
Economic Development Bank in the Business, Transportation and Housing
Agency. Existing law establishes that the board of directors of the
bank consists of 5 members, as specified.
   This bill would add a Member of the Assembly and a Member of the
Senate as advisory members of the board. This bill would require the
bank to serve as the primary state agency for purposes of developing
an application for, and applying to, any federal infrastructure bank
or financing authority.
   This bill also would incorporate additional changes made by the
Governor's Reorganization Plan No. 2 of 2012.
   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 63021.5 of the Government Code is amended to
read:
   63021.5.  (a) The bank shall be governed and its corporate power
exercised by a board of directors that shall consist of the following
persons:
   (1) The Director of Finance or his or her designee.
   (2) The Treasurer or his or her designee.
   (3) The  Secretary of Business, Transportation and Housing
  Director of the Governor's Office of Economic and
Business Development  or his or her designee, who shall serve as
chair of the board.
   (4) An appointee of the Governor.
   (5) The Secretary of  State and Consumer Services Agency
  Transportation  or his or her designee. 
   (6) A Member of the Assembly appointed by the Speaker of the
Assembly and a Member of the Senate appointed by the Senate Committee
on Rules. The Members of the Legislature shall be nonvoting and
shall meet with and, except as otherwise provided by the California
Constitution, advise the board to the extent that their advisory
participation is not incompatible with their duties as Members of the
Legislature. 
   (b) Any designated director shall serve at the pleasure of the
designating power.
   (c) Three of the members shall constitute a quorum and the
affirmative vote of three board members shall be necessary for any
action to be taken by the board.
   (d) A member of the board shall not participate in any bank action
or attempt to influence any decision or recommendation by any
employee of, or consultant to, the bank that involves a sponsor of
which he or she is a representative or in which the member or a
member of his or her immediate family has a personal financial
interest within the meaning of Section 87100. For purposes of this
section, "immediate family" means the spouse, children, and parents
of the member.
   (e) Except as provided in this subdivision, the members of the
board shall serve without compensation, but shall be reimbursed for
actual and necessary expenses incurred in the performance of their
duties to the extent that reimbursement for these expenses is not
otherwise provided or payable by another public agency, and shall
receive one hundred dollars ($100) for each full day of attending
meetings of the authority.
  SEC. 2.  Section 63024.2 is added to the Government Code, to read:
   63024.2.  The bank shall serve as the primary state agency for the
purposes of developing an application for, and applying to, any
federal infrastructure bank or financing authority.