BILL ANALYSIS                                                                                                                                                                                                    



                                                                  SB 66
                                                                  Page  1


          SENATE THIRD READING
          SB 66 (Evans)
          As Amended  September 4, 2009
           2/3 vote.  Urgency 

           SENATE VOTE  :Vote not relevant  
           
           SUMMARY  :  Makes various technical clean up changes to the  
          General Government trailer bill.  Specifically,  this bill  :

          1)Deletes the contents of the existing bill.

          2)Repeals provisions in Corporations Code that were approved in  
            the 2009-10 General Government Trailer Bill that restrict the  
            Small Business Loan Guarantee Program (SBLGP) at the Business  
            Transportation and Housing Agency (BTH) from making any future  
            loan guarantees.  Additionally, these amendments repeal  
            provisions that revert all funds from the SBLGP that are not  
            needed to guarantee existing loans to the General Fund.

          3)Requires that $8.3 million be transferred by the Department of  
            Finance to the General Fund from the Small Business Expansion  
            Fund and/or Trust Fund in fiscal year 2009-10.  This reversion  
            is equal to the amount transferred in the 2009-10 Budget Act.

          4)Makes the proposed amendments inoperative and allows the SBLGP  
            to continue providing loan guarantees upon availability of  
            funds once the transfer of $8.3 million to the GF is complete.

          5)Urgency Clause:  Declares this bill take effect immediately as  
            an urgency statute.


           Analysis Prepared by  :    Keali'i Bright / BUDGET / (916)  
          319-2099 


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