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AB-1430 State government: public investment opportunities: cost-effective definition.(2019-2020)



Current Version: 02/22/19 - Introduced Compare Versions information image


AB1430:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill
No. 1430

Introduced by Assembly Members Eduardo Garcia and Burke

February 22, 2019

An act relating to state government.


LEGISLATIVE COUNSEL'S DIGEST


AB 1430, as introduced, Eduardo Garcia. State government: public investment opportunities: cost-effective definition.
Existing law authorizes the Public Utilities Commission, the State Air Resources Board, the California Transportation Commission, and the Labor and Workforce Development Agency to invest public moneys on various project and programs. Existing law requires some of those investments to be cost effective.
This bill would require these agencies, by January 1, 2021, to provide a joint assessment of options for redefining the term “cost-effective” to the Legislature for the purposes of prioritizing public investment opportunities. The bill would require these agencies, in assessing the options for the definition, to consider the impact that investments would have on various specified factors. The bill would require these agencies to conduct a joint public process for completing the assessment and to solicit comments from interested stakeholders.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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


SECTION 1.

 (a) By January 1, 2021, the Public Utilities Commission, the State Air Resources Board, the California Transportation Commission, and the Labor and Workforce Development Agency shall provide to the Legislature, in compliance with Section 9795 of the Government Code, a joint assessment of options for redefining the term “cost-effective” for the purposes of prioritizing public investment opportunities. In assessing the options for redefining “cost-effective,” the agencies shall consider the impact that investments would have on the following factors:
(1) Economic, environmental, and public health benefits to the state.
(2) Energy or transportation costs to households.
(3) Alignment with other state programs or priorities.
(b) The agencies named in subdivision (a) shall conduct a joint public process for completing the assessment and shall solicit comments from interested stakeholders.
(c) Pursuant to Section 10231.5 of the Government Code, this act is repealed on January 1, 2025.