BILL ANALYSIS �
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UNFINISHED BUSINESS
Bill No: SB 232
Author: Monning (D), et al.
Amended: 9/6/13
Vote: 27 - Urgency
PRIOR VOTES NOT RELEVANT
SENATE BUDGET & FISCAL REVIEW COMMITTEE : 14-0, 9/12/13
(pursuant to Senate Rule 29.10)
AYES: Leno, Emmerson, Anderson, Beall, Berryhill, Block,
DeSaulnier, Hill, Jackson, Monning, Nielsen, Roth, Torres,
Wright
NO VOTE RECORDED: Hancock, Wyland
ASSEMBLY FLOOR : Not available
SUBJECT : California Central Coast State Veterans Cemetery at
Fort Ord
Endowment
SOURCE : Author
DIGEST : This bill repeals a budget allocation for a loan to
the Central Coast State Veterans Cemetery at Fort Ord
(Cemetery), appropriates $1 million to the Central Coast State
Veterans Cemetery at Fort Ord Endowment Fund (Fund) for
construction of the Cemetery, and amends current statutory
requirements of regarding the use of interest on a principal in
the Fund. This bill also requires that any money transferred as
part of the budget action granting a loan to the Fund be
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returned to the General Fund.
Assembly Amendments delete the Senate version of the bill
relating to public transit employees, and add the current
language, coauthors and an urgency clause.
ANALYSIS :
Existing law:
1.Creates the California Central Coast State Veterans Cemetery
at Fort Ord Fund in the State Treasury, and requires moneys in
the Fund to be allocated, upon appropriation by the
Legislature, to the Department of Veterans Affairs (DVA) for
the annual administrative and oversight costs of the veterans
cemetery, as specified, and to generate funding through
interest for the veterans cemetery.
2.Requires moneys in the Fund to be invested to generate ongoing
earnings to cover the estimated annual oversight and
maintenance costs associated with the veterans cemetery, as
provided.
3.Requires DVA to develop and submit a State Veterans Cemetery
Grant Program application to the United States Department of
Veterans Affairs for the establishment of a veterans cemetery
upon the Controller's determination that the Fund has adequate
principal to yield sufficient investment earnings in each year
for the next 10 years, from the date of the determination, to
fully fund the respective year's administrative and oversight
costs, and to fund the estimated costs of developing and
submitting the application, as specified.
4.Authorizes the Director of Finance to transfer up to
$1,500,000 as a loan from the General Fund to the Fund, and
requires the loan to be repaid with interest, as provided.
This bill:
1.Requires that moneys in the fund be allocated to DVA for the
nonreimbursable costs of design and construction and the
annual operations and maintenance costs of the veterans
cemetery for the next 10 years.
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2.Authorizes moneys in the fund to be invested to generate
ongoing earnings to offset the estimated annual operations and
maintenance costs associated with the veterans cemetery.
3.Requires DVA to develop and submit a State Cemetery Grants
Application to the United States Department of Veterans
Affairs upon the Controller's determination that the Endowment
Fund has adequate amounts, in addition to funding the
estimated costs of developing and submitting the application,
to fully fund the nonreimbursable costs of design and
construction and the operations and maintenance costs for the
next 10 years.
4.Requires the Controller to consider the estimated revenues
from specified fees expected to be deposited into the
Endowment Fund in making this determination.
5.Allows any moneys received from the State Veterans Cemetery
Grant Program to be used to reimburse the Endowment Fund for
specified allowable costs as established by that program.
6.Contains an urgency clause.
Comments
According to the author, "The creation of the Central Coast
Veteran's Cemetery, California's second ever state veteran's
cemetery, is dependent upon millions of dollars in Federal
reimbursement funding from the United States Department of
Veteran's Affair's Veterans State Cemetery Grants Program."
FISCAL EFFECT : Appropriation: Yes Fiscal Com.: Yes
Local: No
AL:nl 9/11/13 Senate Floor Analyses
SUPPORT/OPPOSITION: NONE RECEIVED
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