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AB-3052 Special Fund for Economic Uncertainties: rental housing: elderly persons.(2017-2018)



Current Version: 04/11/18 - Amended Assembly

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AB3052:v98#DOCUMENT

Amended  IN  Assembly  April 11, 2018

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill
No. 3052

Introduced by Assembly Member Chen

February 16, 2018

An act to amend Sections 1431 and 1444.5 of the Code of Civil Procedure, Section 16418 of the Government Code, relating to housing, and making an appropriation therefor.


LEGISLATIVE COUNSEL'S DIGEST


AB 3052, as amended, Chen. Escheated funds: portable housing: Special Fund for Economic Uncertainties: rental housing: elderly persons.

Existing law contains various provisions relating to affordable housing and housing for elderly persons, including certain provisions administered by the Department of Housing and Community Development. Under existing law, unclaimed money under $50 from a deceased person’s estate that has permanently escheated to the state is deposited in the General Fund, except as specified. Other unclaimed property is deposited in the Unclaimed Property Fund, and, when permanently escheated, is transferred into the General Fund.

Existing law establishes the Special Fund for Economic Uncertainties, a continuously appropriated fund, and requires the Controller to transfer as necessary from that fund to the unappropriated balance of the General Fund an amount necessary to eliminate any General Fund deficit as of the end of each fiscal year. Existing law also continuously appropriates moneys in the Special Fund for Economic Uncertainties to the Director of Finance for the purpose of allocating funds for disaster relief, as specified.
Existing law establishes the Housing Rehabilitation Loan Fund, which is continuously appropriated to the Department of Housing and Community Development for, among other things, making deferred payment rehabilitation loans for financing all or a portion of the cost of rehabilitating existing housing to meet prescribed rehabilitation standards.
This bill would generally require instead that all unclaimed money, including unclaimed money from a deceased person’s estate, that has permanently escheated to the state be deposited in the Controller to annually transfer from the Special Fund for Economic Uncertainties to the Housing Rehabilitation Loan Fund the sum of $100,000,000, to be used for the construction, rehabilitation, or acquisition and rehabilitation of multifamily rental housing developments for elderly persons or households, as defined, thereby making an appropriation.
Vote: 2/3   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 16418 of the Government Code is amended to read:

16418.
 (a) The Special Fund for Economic Uncertainties is hereby created in the State Treasury and is continuously appropriated for the purposes of this section. The contingency reserve for economic uncertainties established within the General Fund by Section 12.3 of the Budget Act of 1980 is hereby discontinued, and any balance in that reserve shall be transferred to the Special Fund for Economic Uncertainties. This special fund represents a reserve fund within the meaning of Section 5 of Article XIII B of the California Constitution. Notwithstanding Sections 16310 and 16314, the Controller may transfer as necessary from the Special Fund for Economic Uncertainties or from the special accounts in the General Fund to the General Fund amounts that are needed to meet cash needs of the General Fund. The Controller shall return all of the moneys so transferred without payment of interest as soon as there are sufficient moneys in the General Fund.
(b) The Controller shall transfer from the Special Fund for Economic Uncertainties to the unappropriated balance of the General Fund an amount necessary to eliminate any General Fund deficit as of the end of each fiscal year, commencing as of June 30, 1985. The amount of transfer for each fiscal year shall be determined on the basis of the State of California Preliminary Annual Report—Accrual Basis, for that fiscal year. Any subsequent adjustments shall be determined jointly by the Controller and the Director of Finance.
(c) Notwithstanding Section 13340, moneys in the Special Fund for Economic Uncertainties are hereby continuously appropriated without regard to fiscal years to the Director of Finance for the purpose of allocating funds for disaster relief pursuant to Chapter 5 (commencing with Section 194) and Chapter 6 (commencing with Section 197) of Part 1 of Division 1 of the Revenue and Taxation Code. However, any allocation made by the director pursuant to this subdivision shall not be made sooner than 30 days after notification in writing of the necessity therefor is provided to the Joint Legislative Budget Committee.
(d) Notwithstanding any other law, the Controller shall annually transfer from the Special Fund for Economic uncertainties to the Housing Rehabilitation Loan Fund, established pursuant to Section 50661 of the Health and Safety Code, the sum of one hundred million dollars ($100,000,000). Moneys transferred to the Housing Rehabilitation Loan Fund pursuant to this subdivision shall be administered pursuant to Chapter 6.7 (commencing with Section 50675) of Part 2 of Division 31 of the Health and Safety Code and shall be used for the construction, rehabilitation, or acquisition and rehabilitation of multifamily rental housing developments for elderly persons or households, including onsite support facilities. For purposes of this subdivision, “elderly person or household” means a single person who is 60 years of age or older, or a household in which the head of household is 60 years of age or older.

(d)

(e) For budgeting and accounting purposes, any appropriations heretofore or hereafter made specifically from the Special Fund for Economic Uncertainties, other than appropriations contained in this section, shall be deemed an appropriation from the General Fund. For year-end reporting purposes, the Controller shall add the balance in the Special Fund for Economic Uncertainties to the balance in the General Fund so as to show the total moneys then available for General Fund purposes.

(e)

(f) (1) Notwithstanding Section 13340, there is hereby appropriated from the General Fund, without regard to fiscal years, for transfer by the Controller to the Special Fund for Economic Uncertainties as of the end of each fiscal year the unencumbered balance in the General Fund.
(2) If, at the end of any fiscal year in which it has been determined that there are revenues in excess of the amount that may be appropriated, as defined in subdivision (a) of Section 2 of Article XIII B of the California Constitution, the transfer pursuant to paragraph (1) shall be reduced by the amount of these excess revenues. The estimates of the transfer shall be made jointly by the Department of Finance and the Legislative Analyst’s Office.

SECTION 1.Section 1431 of the Code of Civil Procedure is amended to read:
1431.

Money in the Unclaimed Property Fund that has permanently escheated to the state shall, on order of the Controller, be transferred to the Housing Rehabilitation Loan Fund, established pursuant to Section 50661 of the Health and Safety Code. If property other than money held by the Controller or Treasurer in the name of an account in the Unclaimed Property Fund has permanently escheated to the state, the records of the Controller and Treasurer shall be adjusted to show that this property is held in the name of the Housing Rehabilitation Loan Fund. Funds or property transferred to the Housing Rehabilitation Loan Fund pursuant to this section shall be administered pursuant to Chapter 6.7 (commencing with Section 50675) of Part 2 of Division 31 of the Health and Safety Code and shall be used for the construction, rehabilitation, or acquisition and rehabilitation of multifamily rental housing developments for elderly persons or households, including onsite support facilities. For purposes of this section, “elderly person or household” means a single person who is 60 years of age or older, or a household in which the head of household is 60 years of age or older.

SEC. 2.Section 1444.5 of the Code of Civil Procedure is amended to read:
1444.5.

(a)Notwithstanding any other law, money on deposit with the county treasurer of a county received from a public administrator of the county in trust and to the account of the estate of a deceased person or the creditor of a deceased person, in an amount of fifty dollars ($50) or less as to one estate or creditor, and not covered by a decree of distribution that was received or remained on hand after the final accounting in the deceased person’s estate and the discharge of the public administrator as representative of the estate, and that has remained on deposit in trust for a period of 15 years or more unclaimed by an heir, devisee, or legatee of the deceased person, or by a creditor having an allowed and approved claim against the deceased person’s estate remaining unpaid, is permanently escheated to the state. The total of moneys held in trust may be paid in a lump sum by the county treasurer, from funds on hand for the purpose, to the Treasurer, at the time of the next county settlement, or at a county settlement thereafter. The lump sum payment may be made by designating it to have been made under this section, without the necessity of any further report or statement of the estates or claimants concerned, without the necessity of a court order, and without being subject to Section 1311 or 1312.

(b)Upon receipt by the Treasurer, permanently escheated money received by him or her under this section shall, subject to the rights of minors and persons of unsound mind as provided for in Section 1430, be deposited in the Housing Rehabilitation Loan Fund established pursuant to Section 50661 of the Health and Safety Code, for the construction, rehabilitation, or acquisition and rehabilitation of multifamily rental housing developments for elderly persons or households, including onsite support facilities. These funds shall be administered pursuant to Chapter 6.7 (commencing with Section 50675) of Part 2 of Division 31 of the Health and Safety Code.

(c)Money on deposit with a county treasurer received from the coroner of the county in trust and to the account of a deceased person is permanently escheated, and shall be held, reported, paid to the Treasurer, and deposited as set forth in subdivisions (a) and (b).

(d)For purposes of this section, “elderly person or household” means a single person who is 60 years of age or older, or a household in which the head of household is 60 years of age or older.