Bill Text: CA AB310 | 2019-2020 | Regular Session | Amended
Bill Title: California Infrastructure and Economic Development Bank.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2020-08-03 - In committee: Hearing for testimony only. [AB310 Detail]
Download: California-2019-AB310-Amended.html
Amended
IN
Senate
June 26, 2020 |
Amended
IN
Assembly
May 16, 2019 |
Amended
IN
Assembly
March 20, 2019 |
Introduced by Assembly Member Santiago |
January 29, 2019 |
LEGISLATIVE COUNSEL'S DIGEST
Existing law generally requires the jury commissioner to randomly select jurors to participate in voir dire. Existing law prohibits the selection of designated peace officers for voir dire in either criminal or both criminal and civil matters, as specified.
This bill, until January 1, 2024, would additionally prohibit the selection of designated probation officers for voir dire in criminal matters. This bill would also require the Judicial Council to submit a report to the Legislature addressing the impact of exemptions from jury service, as specified.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
The Legislature finds and declares all of the following:SEC. 2.
It is the intent of the Legislature to do all of the following:SEC. 3.
Section 16430 of the Government Code is amended to read:16430.
Eligible securities for the investment of surplus moneys shall be any of the following:SEC. 4.
Section 16480.46 is added to the Government Code, to read:16480.46.
The Treasurer shall target an investment of 10 percent of the average daily balance of the Pooled Money Investment Account into equity, loans, debt securities, bond anticipation notes, or other obligations of the California Infrastructure and Economic Development Bank.SEC. 5.
Section 16500 of the Government Code is amended to read:16500.
(a) As used in this chapter, “eligible bank” means a state or national bank located in this state, selected by the Treasurer for the safekeeping of money belonging to or in the custody of the state, that has received an overall rating of not less than “satisfactory” in its most recent evaluation by the appropriate federal financial supervisory agency of the bank’s record of meeting the credit needs of the state’s communities, including low- and moderate-income neighborhoods, pursuant to Section 2906 of Title 12 of the United States Code. An eligible bank is eligible to receive deposits only to the extent that it furnishes the security required by this chapter.SEC. 6.
Section 16500.5 of the Government Code is amended to read:16500.5.
(a) The definitions in Section 1670 of, and Chapter 1 (commencing with Section 99) of Division 1 of, the Financial Code apply to this section.SEC. 7.
Section 16521 of the Government Code is amended to read:16521.
(a) To be eligible to receive and retain demand or time deposits, a bank shall deposit with the Treasurer as security for such deposits, securities specified in Section 16522, and approved by the Treasurer, in an amount in value at least 10 percent in excess of the amount deposited with the bank. Uncollected funds shall be excluded from the amount deposited in a demand account with a bank when determining the security requirements for such deposits.SEC. 8.
Section 53601 of the Government Code is amended to read:53601.
This section shall apply to a local agency that is a city, a district, or other local agency that does not pool money in deposits or investments with other local agencies, other than local agencies that have the same governing body. However, Section 53635 shall apply to all local agencies that pool money in deposits or investments with other local agencies that have separate governing bodies. The legislative body of a local agency having moneys in a sinking fund or moneys in its treasury not required for the immediate needs of the local agency may invest any portion of the moneys that it deems wise or expedient in those investments set forth below. A local agency purchasing or obtaining any securities prescribed in this section, in a negotiable, bearer, registered, or nonregistered format, shall require delivery of the securities to the local agency, including those purchased for the agency by financial advisers, consultants, or managers using the agency’s funds, by book entry, physical delivery, or by third-party custodial agreement. The transfer of securities to the counterparty bank’s customer book entry account may be used for book entry delivery.SEC. 9.
Section 53630.5 of the Government Code is amended to read:53630.5.
(a) The definitions in Section 1670 of, and Chapter 1 (commencing with Section 99) of Division 1 of, the Financial Code apply to this section.SEC. 10.
Section 53635 of the Government Code is amended to read:53635.
(a) This section shall apply to a local agency that is a county, a city and county, or other local agency that pools money in deposits or investments with other local agencies, including local agencies that have the same governing body. However, Section 53601 shall apply to all local agencies that pool money in deposits or investments exclusively with local agencies that have the same governing body.SEC. 11.
Section 53638 of the Government Code is amended to read:53638.
(a) The deposit shall not exceed the shareholder’s equity of any depository bank. For the purposes of this subdivision, shareholder’s equity shall be determined in accordance with Section 463 of the Financial Code, but shall be deemed to include capital notes and debentures.SEC. 12.
Section 53651 of the Government Code is amended to read:53651.
Eligible securities are any of the following:SEC. 13.
Section 63010 of the Government Code is amended to read:63010.
For purposes of this division, the following words and terms shall have the following meanings unless the context clearly indicates or requires another or different meaning or intent:(f)
(g)
(h)
(i)
(j)
(k)
(l)
(m)
(n)
(o)
(p)
(q)
(r)
(s)
(t)
(u)
(v)
(w)
(x)
SEC. 14.
Section 63021 of the Government Code is amended to read:63021.
(a) There is within(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.
SEC. 15.
Section 63021.1 is added to the Government Code, to read:63021.1.
(a) (1) There is hereby established the Infrastructure and Economic Development Bank Commission, which shall consist of the following members:SEC. 16.
Section 63021.2 is added to the Government Code, to read:63021.2.
(a) The bank is hereby transferred from the Governor’s Office of Business and Economic Development to the Infrastructure and Economic Development Bank Commission.SEC. 17.
Section 63021.3 is added to the Government Code, to read:63021.3.
(a) (1) On or before January 1, 2021, the executive director shall prepare, or cause to be prepared, a proposed projected five-year budget detailing the costs expected to be incurred during that period due to the transfer of the bank from the Governor’s Office of Business and Economic Development to the Infrastructure and Economic Development Bank Commission, pursuant to Section 63021.2, and the operation of the bank as a depository institution, pursuant to Section 63025.10.SEC. 18.
Section 63021.5 of the Government Code is repealed.(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.
(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. 19.
Section 63025.1 of the Government Code is amended to read:63025.1.
The bank board may doSEC. 20.
Section 63025.10 is added to the Government Code, to read:63025.10.
(a) (1) Notwithstanding subdivision (aa) of Section 63025.1, the Department of Business Oversight shall charter the bank as a depository bank for the purpose of accepting deposits of public funds from any of the following:SEC. 21.
Section 63035 of the Government Code is amended to read:63035.
The bank shall, not later than November 1 of each year, submit to the(e)
(f)
(g)
SEC. 22.
Section 63037 is added to the Government Code, to read:63037.
The bank shall study the development and offering, directly or in partnership with participating lenders, of additional products, including, but not limited to, all of the following:SEC. 23.
Section 63050 of the Government Code is amended to read:63050.
(a) There is hereby created in the State Treasury the California Infrastructure and Economic Development Bank Fund for the purpose of implementing the objectives and provisions of this division. Within the fund there shall also be established a Sponsor Revenue Bond Account, a Participating Party Revenue Bond Account, a State Infrastructure Revolving Account, and additional accounts and subaccounts that the bank may establish from time to time.(d)Notwithstanding any other provision of this division, not more than 15 percent of the financing annually approved by the executive director that utilizes state funds from the infrastructure bank fund may be expended upon educational facilities, environmental mitigation measures, and parks and recreational facilities.
(e)
SEC. 24.
Section 63088.3 of the Government Code is amended to read:63088.3.
Unless the context otherwise requires, the definitions in this section shall govern the construction of this chapter. The definitions provided in this section shall only apply to this chapter and not to any other chapter of this division.(n)
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SEC. 25.
Article 8.5 (commencing with Section 63089.85) is added to Chapter 6 of Division 1 of Title 6.7 of the Government Code, to read:Article 8.5. Financing of Underserved and Disadvantaged Businesses
63089.85.
(a) The bank board shall establish lending and credit support programs with participating lenders.SEC. 26.
Section 63089.98 of the Government Code is amended to read:63089.98.
(a) Annually, not later than January 1 of each year commencing January 1, 2014, and notwithstanding Section 10231.5, the program manager shall prepare and submit to theSEC. 27.
Chapter 7 (commencing with Section 63090) is added to Division 1 of Title 6.7 of the Government Code, to read:CHAPTER 7. Financing of Local Governments
63090.
(a) The bank may purchase bond anticipation notes of local agencies and tribal governments.63090.1.
The bank shall do all of the following:(a)Except as provided in subdivision (b), the jury commissioner shall randomly select jurors for jury panels to be sent to courtrooms for voir dire.
(b)(1)Notwithstanding subdivision (a), a peace officer, as defined in Section 830.1, subdivision (a) of Section 830.2, or subdivision (a) of Section 830.33 of the Penal Code, shall not be selected for voir dire in civil or criminal matters.
(2)Notwithstanding subdivision (a), a peace officer, as defined in
subdivision (b) or (c) of Section 830.2 of the Penal Code, shall not be selected for voir dire in criminal matters.
(3)Notwithstanding subdivision (a), a peace officer, as described in subdivision (a) or (b) of Section 830.5 of the Penal Code, who is employed by a probation department shall not be selected for voir dire in criminal matters. This paragraph shall remain in effect until January 1, 2024, and as of that date is repealed.
(a)On or before January 1, 2023, the Judicial Council shall submit a report to the Legislature that addresses the impact of categorical exemptions to jury service, including the exemptions provided in subdivision (b) of Section 219. The report shall specifically discuss how these exemptions impact all of the following:
(1)Court administration.
(2)Diversity, including the cultural and professional backgrounds of the jury pool.
(3)Overall access to justice, including delays in trial scheduling and dismissals of last-day criminal trials.
(b)The Judicial Council may utilize representative surveys to generate the data necessary to complete the report required by this section, which it shall submit to the Legislature in compliance with Section 9795 of the Government Code.