BILL NUMBER: AB 893 INTRODUCED
BILL TEXT
INTRODUCED BY Assembly Member V. Manuel Pérez
FEBRUARY 17, 2011
An act to amend Sections 63021.5, 63022, 63035, and 63040 of the
Government Code, relating to state government.
LEGISLATIVE COUNSEL'S DIGEST
AB 893, as introduced, V. Manuel Pérez. State government:
infrastructure and economic development bank.
Existing law establishes the California Infrastructure and
Economic Development Bank in the Business, Transportation and Housing
Agency. The board of directors of the bank consists of, among
others, the Secretary of State and Consumer Services, or their
designee. Existing law requires 3 members of the board to constitute
a quorum and to take action. Existing law imposes certain duties and
grants certain powers to the executive director of the bank.
This bill would alter the membership of the board of the directors
of the bank by removing and adding certain members. This bill would
also impose term limits on certain members of the board. This bill
would also require 4 members of the board to constitute a quorum and
to take action.
This bill would require the executive director of the bank to
oversee the annual outreach schedule of the bank, as specified.
Existing law requires the California Infrastructure and Economic
Development Bank to submit an annual report to the Governor, and the
Joint Legislative Budget Committee, that contains specified
requirements.
This bill would require the bank to also submit the report to
policy committees of the Legislature that oversee the bank, and would
alter the requirements of the report.
Existing law requires the bank to notify the Governor, the fiscal
and policy committees of the Legislature that exercise legislative
oversight of the bank, and appropriate state and local agencies, when
the bank establishes or makes changes to the criteria, priorities,
and guidelines for project selection.
This bill would require the bank to notify the Governor, the
fiscal and policy committees of the Legislature that exercise
legislative oversight of the bank, and appropriate state and local
agencies, 60 days prior to the adoption or modification of criteria,
priorities, and guidelines for project selection.
Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 63021.5 of the Government Code is amended to
read:
63021.5. (a) The bank shall be governed and its corporate power
exercised by a board of directors that shall consist of the following
persons:
(1) The Director of Finance or his or her designee.
(2) The Treasurer or his or her designee.
(3) The Secretary of Business, Transportation and Housing or his
or her designee, who shall serve as chair of the board.
(4) An appointee of the Governor.
(5) The Secretary of State and Consumer Services Agency
or his or her designee. (A) (i)
A representative from the economic development
community appointed by the Speaker of the Assembly.
(ii) A representative from the business community appointed by the
chair of the Senate Committee on Rules.
(B) Appointments by the Speaker of the Assembly and the Senate
Committee on Rules shall be for two-year terms. Appointees may be
reappointed for no more than two terms.
(6) The chairpersons of the Senate and Assembly policy committees
that oversee infrastructure and economic development issues, as
determined by the Speaker of the Assembly and the Senate Committee on
Rules, shall serve as ex officio nonvoting members of the board.
(b) Any designated director shall serve at the pleasure of the
designating power.
(c) Three Four of the members shall
constitute a quorum and the affirmative vote of three
four board members shall be necessary for any
action to be taken by the board.
(d) A member of the board shall not participate in any bank action
or attempt to influence any decision or recommendation by any
employee of, or consultant to, the bank that involves a sponsor of
which he or she is a representative or in which the member or a
member of his or her immediate family has a personal financial
interest within the meaning of Section 87100. For purposes of this
section, "immediate family" means the spouse, children, and parents
of the member.
(e) Except as provided in this subdivision, the members of the
board shall serve without compensation, but shall be reimbursed for
actual and necessary expenses incurred in the performance of their
duties to the extent that reimbursement for these expenses is not
otherwise provided or payable by another public agency, and shall
receive one hundred dollars ($100) for each full day of attending
meetings of the authority.
SEC. 2. Section 63022 of the Government Code is amended to read:
63022. The executive director shall manage and conduct the
business and affairs of the bank, the infrastructure bank fund, and
guarantee trust fund, subject to the direction of the board. The
executive director shall ov ersee the annual outreach
schedule of the bank to ensure that outreach is coordinated with
other similar federal and state infrastructure development resources.
Except as otherwise provided in this section, the board may
assign to the executive director, by resolution, those duties
generally necessary or convenient to carry out its powers and
purposes under this chapter. Any action involving final approval of
any bonds, notes, or loans shall require the approval of a majority
of the members of the board. Subject to any conditions that the board
may from time to time prescribe, the executive director may exercise
any power, function, or duty conferred by law on the bank in
connection with the administration, management, and conduct of the
business and affairs of the bank, the infrastructure bank fund, and
the guarantee trust fund.
SEC. 3. Section 63035 of the Government Code is amended to read:
63035. The bank shall, not later than November 1 of each year,
submit to the Governor , the policy committees of the
Legislature that exercise legislative oversight of the bank,
and the Joint Legislative Budget Committee a report of its activities
pursuant to this division for the preceding fiscal year. The report
shall include all of the following:
(a) (1) A listing of applications accepted, including a
description of the expected employment impact of each project.
The expected employment impact shall detail the amount of jobs
created, retained, and indirectly impacted.
(2) A separate summary of applications for the Infrastructure
State Revolving Fund Program, including a summary of the number of
preliminary applications that did not receive funding and the reason
the applicant did not qualify.
(3) A list of public outreach activities engaged in during the
year, including outcomes.
(b) A specification of bonds sold and interest rates thereon.
(c) The amount of other public and private funds leveraged by the
assistance provided.
(d) A report of revenues and expenditures for the preceding fiscal
year, including all of the bank's costs. The information provided
pursuant to this subdivision shall include, but need not be limited
to, both of the following:
(1) The amount and source of total bank revenues. Revenues shall
be shown by main categories of revenues, including interest earnings,
fees collected, and bond proceeds, for each bank program.
(2) The amount and type of total bank expenditures. Expenditures
shall be shown by major categories of expenditures, including loans
provided, debt service payments, and program support costs, for each
bank program.
(e) A projection of the bank's needs and requirements for the
coming year.
(f) Recommendations for changes in state and federal law necessary
to meet the objectives of this division.
SEC. 4. Section 63040 of the Government Code is amended to read:
63040. (a) Following consultation with appropriate state and
local agencies, the bank shall establish criteria, priorities, and
guidelines for the selection of projects to receive assistance from
the bank. Projects shall comply with the criteria, priorities, and
guidelines adopted by the bank.
(b) The criteria, priorities, and guidelines shall, at a minimum,
be based upon the following:
(1) The State Environmental Goals and Policy Report, or its
successor, approved pursuant to Article 5 (commencing with Section
65041) of Chapter 1.5 of Division 1 of Title 7. This requirement
shall not apply if the update to the report is more than
two years overdue.
(2) If the sponsor is a state agency, board, commission, or
department, the Capital and Infrastructure Project Planning Report,
prepared by the Director of Finance pursuant to Article 2 (commencing
with Section 13100) of Chapter 2 of Part 3 of Division 3 of Title 2.
(c) When the bank establishes or makes
proposes to establish or modify changes to the criteria,
priorities, and guidelines, the bank shall notify the Governor, the
fiscal and policy committees of the Legislature that exercise
legislative oversight of the bank, and appropriate state and local
agencies 60 days prior to the adoption or modification .
(d) The resolution required in Section 63041 shall have been
adopted prior to the project's selection by the bank.