Bill Text: CA AB1380 | 2009-2010 | Regular Session | Introduced

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Bill Title: Infrastructure and Economic Development Bank: board of

Sponsorship: Partisan Bill (Democrat 1)

Status: (Engrossed - Dead) 2009-06-18 - Referred to Com. on RLS. [AB1380 Detail]

Download: California-2009-AB1380-Introduced.html

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BILL NUMBER: AB 1380	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Bass

                        FEBRUARY 27, 2009

   An act to amend Section 63021.5 of the Government Code, relating
to the Infrastructure and Economic Development Bank.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1380, as introduced, Bass. Infrastructure and Economic
Development Bank: board of directors.
   Existing law establishes the Infrastructure and Economic
Development Bank governed and with its corporate power exercised by a
board of directors that consists of the Director of Finance, or his
or her designee, the Treasurer, or his or her designee, the Secretary
of Business, Transportation and Housing, or his or her designee, an
appointee of the Governor, and the Secretary of State and Consumer
Services, or his or her designee.
   This bill would authorize the Speaker of the Assembly and the
Senate Committee on Rules to each appoint one member of the public to
serve as a nonvoting member of the board of directors.
   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)  (1)    The bank shall be governed
and its corporate power exercised by a board of directors that shall
consist of the following persons: 
   (1) 
    (A)  The Director of Finance or his or her designee.

   (2) 
    (B)  The Treasurer or his or her designee. 
   (3) 
    (C)  The Secretary of Business, Transportation and
Housing or his or her designee, who shall serve as chair of the
board. 
   (4) 
    (D)  An appointee of the Governor. 
   (5)
    (E)  The Secretary of State and Consumer Services Agency
or his or her designee. 
   (2) The Speaker of the Assembly may appoint one member of the
public to serve as a nonvoting member of the board of directors.
 
   (3) The Senate Committee on Rules may appoint one member of the
public to serve as a nonvoting member of the board of directors.

   (b) Any designated director shall serve at the pleasure of the
designating power.
   (c) Three of the  voting  members shall constitute a
quorum and the affirmative vote of three  voting  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.