BILL ANALYSIS                                                                                                                                                                                                    Ó






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          |SENATE RULES COMMITTEE            |                        AB 117|
          |Office of Senate Floor Analyses   |                              |
          |(916) 651-1520    Fax: (916)      |                              |
          |327-4478                          |                              |
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                                   THIRD READING 


          Bill No:  AB 117
          Author:   Committee on Budget  
          Amended:  6/16/15 in Senate 
          Vote:     21  

           SENATE BUDGET & FISCAL REVIEW COMMITTEE:  11-4, 6/18/15
           AYES: Leno, Nielsen, Allen, Beall, Block, Hancock, Monning,  
            Pan, Pavley, Roth, Wolk
           NOES: Anderson, Moorlach, Nguyen, Stone
           NO VOTE RECORDED: Mitchell

           ASSEMBLY FLOOR:  Not relevant

           SUBJECT:   Public resources


          SOURCE:    Author


          DIGEST:  This bill makes various statutory changes necessary to  
          implement the state administration related provisions of the  
          Budget Act of 2015.


          ANALYSIS:   This bill includes the following key changes:


          1)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. 








                                                                     AB 117  
                                                                    Page  2



          2)Extension of the Jobs and Economic Improvement Through  
            Environmental Leadership Act. Provides for a one year  
            extension of an expedited process for California Environmental  
            Quality Act 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  
            concurrent or non-concurrence.  

          FISCAL EFFECT:   Appropriation:    Yes         Fiscal  
          Com.:YesLocal:   Yes

          SUPPORT:  (Verified  6/18/15)

          None received

          OPPOSITION:  (Verified  6/18/15)

          None received

           

          Prepared by:Brady Van Engelen / B. & F.R. / (916) 651-4103
          6/18/15 19:03:37


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