BILL NUMBER: SB 225	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  JUNE 29, 2011

INTRODUCED BY   Senator Simitian
    (   Principal coauthor:   Assembly Member
  Achadjian  ) 

                        FEBRUARY 9, 2011

   An act to add Section 44559.10 to the Health and Safety Code,
relating to the California Pollution Control Financing Authority.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 225, as amended, Simitian. California Pollution Control
Financing Authority: Capital Access Loan Program.
   The California Pollution Control Financing Authority Act
establishes the Capital Access Loan Program for small businesses,
administered by the California Pollution Control Financing Authority,
which provides loans through participating financial institutions to
qualifying small businesses. The authority is required to create a
loss reserve account for each financial institution.
   This bill would authorize the authority to establish loss reserve
accounts for the purposes of terminal rental adjustment clause
 (TRAC)   , as defined,  leasing, 
as defined,  if funds are available for contribution into
the loss reserve account from any source other than the authority.
   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 44559.10 is added to the Health and Safety
Code, to read:
   44559.10.  (a) Notwithstanding any other provision of this
article, the authority may establish loss reserve accounts for the
purposes of terminal rental adjustment clause  (TRAC)
leasing, as defined in Section 7701(h)(3) of Title 26 of the United
States Code   leasing  , if funds are available for
contribution into the loss reserve account from any source other
than the authority. The authority shall not contribute any funds into
a loss reserve account created pursuant to this section.
   (b) The executive director may establish conditions for 
TRAC   terminal rental adjustment clause  leasing
loss reserve accounts created pursuant to this section. 
   (c) As used in this section, "terminal rental adjustment clause"
means "terminal rental adjustment clause" as defined in Section 7701
(h)(3) of Title 26 of the United States Code.