Bill Text: CA AB2290 | 2013-2014 | Regular Session | Amended

---

Bill Title: California Infrastructure and Economic Development Bank.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2014-08-05 - Read second time. Ordered to third reading. [AB2290 Detail]

Download: California-2013-AB2290-Amended.html

---

BILL NUMBER: AB 2290	AMENDED
	BILL TEXT

	AMENDED IN SENATE  AUGUST 4, 2014

INTRODUCED BY   Assembly Member John A. Pérez

                        FEBRUARY 21, 2014

   An act to amend Section 63021.5 of, and to add Section 63024.2 to,
the Government Code, relating to economic development.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2290, as amended, John A. Pérez. California Infrastructure and
Economic Development Bank.
   Existing law establishes the California Infrastructure and
Economic Development Bank in the Governor's Office of Business and
Economic Development. Existing law establishes that the board of
directors of the bank consists of 5 members, as specified.
   This bill would add a Member of the Assembly, or a designee of the
 member,   Member,  and a Member of the
Senate, or a designee of the Senator, as advisory members of the
board. This bill would require the bank to serve as the primary state
agency for purposes of developing an application for, and applying
to, any federal infrastructure bank or financing  authority.
  authority, except where inconsistent with an operating
agreement between another state agency and a federal agency. 
   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 Director of the Governor's Office of Business and Economic
Development or his or her designee, who shall serve as chair of the
board.
   (4) An appointee of the Governor.
   (5) The Secretary of Transportation or his or her designee.
   (6) A Member of the Assembly appointed by the Speaker of the
Assembly and a Member of the Senate appointed by the Senate Committee
on Rules. The Members of the Legislature shall be nonvoting and
shall meet with and, except as otherwise provided by the California
Constitution, advise the board, to the extent that their advisory
participation is not incompatible with their duties as Members of the
Legislature. A Member of the Legislature appointed under this
paragraph may select a designee to serve in his or her place.
   (b) Any designated director shall serve at the pleasure of the
designating power.
   (c) Three of the members shall constitute a quorum and the
affirmative vote of three 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 63024.2 is added to the Government Code, to read:
   63024.2.  The bank shall serve as the primary state agency for the
purposes of developing an application for, and applying to, any
federal infrastructure bank or financing  authority.
  authority, except where inconsistent with an operating
agreement between another state agency and a federal agency.