The Golden State Infrastructure Corporation Act.
Vote required
Two Thirds
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
The Golden State Infrastructure Corporation Act establishes a new corporation within the State Treasurer’s Office to finance infrastructure projects in California. This corporation, the Golden State Infrastructure Corporation, will be responsible for administering financing and providing capital for infrastructure development. It will be governed by a board of directors and authorized to issue bonds and loans, with the state not liable for its obligations. The corporation will submit annual reports to the Governor, Legislature, and Legislative Analyst’s Office detailing its activities and funding.
Key provisions
- Establishes the Golden State Infrastructure Corporation within the State Treasurer’s Office.
- Authorizes the corporation to provide financing to infrastructure companies, governmental entities, or a combination of both.
- Allows the corporation to issue revenue bonds to fund infrastructure projects.
- Requires the corporation to submit annual reports to the Governor, Legislature, and Legislative Analyst’s Office.
- Exempts the corporation from disclosure under the California Public Records Act for certain records related to financing.
- Requires the corporation to approve operational policies prior to providing financing.
- Creates the Golden State Infrastructure Corporation Fund, continuously appropriated for the corporation’s support.
- Specifies that the corporation is a state agency for purposes of the California Public Records Act.
Who is affected
Bill text
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Sponsors
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3 on record
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Cosponsors
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