BILL ANALYSIS Ó
SENATE COMMITTEE ON BUDGET AND FISCAL REVIEW
Senator Mark Leno, Chair
2015 - 2016 Regular
Bill No: AB 117 Hearing Date: June 18,
2015
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|Author: |Committee on Budget |
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|Version: |January 9, 2015 Introduced |
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|Urgency: |No |Fiscal: |Yes |
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|Consultant|Brady Van Engelen |
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Subject: Budget Act of 2015.
Summary: This measure makes various statutory changes necessary to
implement the state administration related provisions of the
Budget Act of 2015.
Background: As part of the 2015-16 budget package, AB 117 makes various
statutory changes to implement the budget act.
Proposed
Law: This bill includes the following key changes:
Payments Made on Debentures. Aligns appropriation language
contained in the Insurance Law related to debentures with
language in the General Obligation (GO) bonds to ensure that
debentures are paid off in a manner similar to GO bonds. States
that payments from the General Fund are continuously
appropriated.
Extension of the Jobs and Economic Improvement Through
Environmental Leadership Act. Provides for a one year extension
of an expedited process for CEQA judicial review. In order to be
certified an investment of $100 million dollars in California
upon completion of construction, creates high-wage, high-skilled
jobs, and specified environmental standards. Prior to
certification, the Governor must submit the project and his or
her findings to the Joint Legislative Budget Committee for
AB 117 (Committee on Budget) Page 2
of ?
concurrent or non-concurrence.
Fiscal
Effect: This bill should not result in any changes to the budget act
or related budget actions. The provision referencing payments
made on debentures contains an appropriation and has been
identified as related to the budget in the Budget Bill.
Support: None on file.
Opposed: None on file.
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