BILL ANALYSIS �
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|SENATE RULES COMMITTEE | SB 84|
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UNFINISHED BUSINESS
Bill No: SB 84
Author: Senate Budget and Fiscal Review Committee
Amended: 3/17/11
Vote: 21
PRIOR SENATE VOTES NOT RELEVANT
ASSEMBLY FLOOR : Not available
SUBJECT : Budget Act of 2010: Revisions
SOURCE : Author
DIGEST : This bill makes budgetary loans and transfers in
the 2010-11 fiscal year by amending the 2010 Budget Act.
Assembly Amendments delete the prior version of the bill,
and insert the current provisions relating to budgetary
loans and transfers.
ANALYSIS : This bill amends the 2010 Budget Act to add
new budgetary loans and transfers from special funds to the
General Fund. In total, the amount directed to the General
Fund in this bill is $544.7 million. The loans must be
repaid as needed to support the activities of the related
programs.
Most of these loans were proposed by the Governor to
backfill for the revenue loss caused by the cancelation of
the sale-for-leaseback of 11 large state office buildings.
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The sale of the state office buildings would have resulted
in higher ongoing lease costs, and carried an implied
interest rate of approximately 10 percent. The special
fund loans will have a much lower interest cost - likely
under two percent.
This bill includes the Proposition 25 language that
identifies all the budget trailer bills.
The loans and transfers are as follows:
Amount
Special Fund in
millions
State Emergency Telephone Number Account $28.0
Alcoholic Beverage Control Appeals Fund 0.5
School Facilities Fee Assistance Fund* 0.9
Housing Rehabilitation Loan Fund 18.0
State Highway Account 147.1
Renewable Resource Trust Fund 20.0
California Used Oil Recycling Fund 2.5
Electronic Waste Recovery and Recycling Account 27.0
Oil Spill Response Trust Fund 40.0
Harbors and Watercraft Revolving Fund 17.0
Off-Highway Vehicle Trust Fund 21.0
Environmental Protection Trust Fund* 1.2
State Water Pollution Control Revolving Fund Small
Community Grant Fund 3.0
Hazardous Waste Control Account 13.0
Site Remediation Account 1.0
Illegal Drug Lab Cleanup Account 1.0
Cleanup Loans and Environmental Assistance to Neighborhoods
Account 0.5
Foster Family Home and Small Family Home Insurance Fund
3.0
California High Cost Fund-B Administrative Committee Fund
100.0
California Advanced Services Fund 75.0
Public Utilities Commission Utilities Reimbursement Account
25.0
TOTAL $544.7
* Indicates transfers, the rest are loans.
This bill also provides the Department of Finance with
authority to provide up to $10 million to the Secretary of
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State for its costs for the June 2011 statewide special
election.
FISCAL EFFECT : Appropriation: Yes Fiscal Com.: Yes
Local: No
DLW:mw 3/17/11 Senate Floor Analyses
SUPPORT/OPPOSITION: NONE RECEIVED
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