BILL NUMBER: SB 1484	AMENDED
	BILL TEXT

	AMENDED IN SENATE  APRIL 9, 2012

INTRODUCED BY   Senator Pavley

                        FEBRUARY 24, 2012

   An act to amend  Sections 63000 and 63010  
Section 63021  of the Government Code, relating to
infrastructure finance.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 1484, as amended, Pavley. California Infrastructure and
Economic Development Bank: clean energy technology.
   The Bergeson-Peace Infrastructure and Economic Development Bank
Act establishes  in the Business, Transportation and Housing
Agency  the California Infrastructure and Economic Development
Bank  Fund  for the purpose of funding specified
types of infrastructure development projects.  Existing law
makes several legislative findings and declarations relating to the
need for providing greater access to capital in specified industries
and defines terms for purposes of the act. 
   This bill would  modify one of the legislative findings
and declarations relating to the need for providing greater access to
capital in specified industries and define the term "clean energy
technology."   instead establish the California
Infrastructure and Economic Development Bank within the Governor's
Office of Business and Economic Development. 
   Vote: majority. Appropriation: no. Fiscal committee:  no
  yes  . State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

   SECTION 1.    Section 63021 of the  
Government Code   is amended to read: 
   63021.  (a) There is within the  Business, Transportation
and Housing Agency   Governor's Office of Business and
Economic Development  the Infrastructure and Economic
Development Bank which shall be responsible for administering this
division.
   (b) The bank shall be under the direction of an executive director
appointed by the Governor, and who shall serve at the pleasure of
the Governor. The appointment shall be subject to confirmation by the
Senate. All matter omitted in this version of the bill appears in
the bill as introduced in the Senate, February 24, 2012. (JR11)