Bill Text

Bill Information

Add To My Favorites | print page

AB-423 State government: Infrastructure and Economic Development Bank.(2011-2012)

SHARE THIS:share this bill in Facebookshare this bill in Twitter
AB423:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2011–2012 REGULAR SESSION

Assembly Bill
No. 423


Introduced  by  Assembly Member Butler

February 14, 2011


An act to amend Sections 63021 and 63024 of the Government Code, relating to state government.


LEGISLATIVE COUNSEL'S DIGEST


AB 423, as introduced, Butler. State government: Infrastructure and Economic Development Bank.
Existing law establishes the Infrastructure and Economic Development Bank within the Business, Transportation and Housing Agency.
This bill would, instead, provide that the Department of Finance would assume authority over the Infrastructure and Economic Development Bank.
This bill also makes conforming changes to these provisions.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   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 Department of Finance 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.

SEC. 2.

 Section 63024 of the Government Code is amended to read:

63024.
 The executive director may contract with the Department of Finance, the State Department of Health Services Public Health, the Department of Transportation, the Department of Water Resources, the California Integrated Waste Management Board Department of Resources Recycling and Recovery, the State Water Resources Control Board, the Governor’s Office of Planning and Research, and any other necessary agencies, persons, or firms to enable the agency to properly perform the duties imposed by this division.