BILL ANALYSIS Ó ----------------------------------------------------------------- |SENATE RULES COMMITTEE | AB 117| |Office of Senate Floor Analyses | | |(916) 651-1520 Fax: (916) | | |327-4478 | | ----------------------------------------------------------------- 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 **** END ****