California 2013-2014 Regular Session Status: In Committee

AB 2729 — Infrastructure financing.

Last action — From committee without further action.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2013-2014 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

The Bergeson-Peace Infrastructure and Economic Development Bank Act establishes the California Infrastructure and Economic Development Bank, within the Governor's Office of Business and Economic Development, to, among other things, be governed by a specified board of directors. The act makes findings and declarations in this regard, provides definitions, and authorizes the board to take various actions in connection with the bank, including the issuance of bonds, as specified. This bill, among other things, would revise the definition of economic development facilities to include facilities that are used to provide goods movement and would define goods movement-related infrastructure. The bill would revise the definition of port facilities to specifically reference airports, landports, waterports, and railports, and expand the definition of participating party to include an international governmental entity. The bill would make various technical changes. This bill would also enact the California Economic Development Infrastructure Finance Act of 2014 to create the California Infrastructure Finance Center to administer the provisions of this act, as specified, under the oversight of the bank. This bill would authorize the creation of California infrastructure development corporations, as specified, and establish requirements for those corporations to secure participation rights, as part of forming public-private partnerships with the bank in building infrastructure related to economic-related activities. Participation rights include a commitment by the state to use the California Infrastructure Development Corporation to deliver infrastructure projects. Participation rights also include the right of first refusal by the corporation to participate in public-private partnership projects (P3 projects) and if it should choose to participate, a preestablished minimum participation rate in financing each and all P3 projects. This bill would also provide an exemption from specified public contracting requirements for contracts entered into between the bank and these corporations. This bill would also establish conflict of interest provisions for persons implementing the act or participating in a California Infrastructure Development Corporation. This bill would make a violation of these provisions a felony, thereby creating a crime and a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.

Bill Text

Action History

  1. From committee without further action.

  2. In committee: Hearing for testimony only.

  3. Re-referred to Com. on J., E.D., & E.

  4. From committee chair, with author's amendments: Amend, and re-refer to Com. on J., E.D., & E. Read second time and amended.

  5. Re-referred to Com. on J., E.D., & E.

  6. From committee chair, with author's amendments: Amend, and re-refer to Com. on J., E.D., & E. Read second time and amended.

  7. Referred to Coms. on J., E.D., & E. and B. & F.

  8. Read first time.

  9. From printer. May be heard in committee March 25.

  10. Introduced. To print.

Sponsors

  • Medina · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Medina

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance transportation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2729 do?
The Bergeson-Peace Infrastructure and Economic Development Bank Act establishes the California Infrastructure and Economic Development Bank, within the Governor's Office of Business and Economic Development, to, among other things, be governed by a specified board of directors. The act makes findings and declarations in this regard, provides definitions, and authorizes the board to take various actions in connection with the bank, including the issuance of bonds, as specified. This bill, among other things, would revise the definition of economic development facilities to include facilities that are used to provide goods movement and would define goods movement-related infrastructure. The bill would revise the definition of port facilities to specifically reference airports, landports, waterports, and railports, and expand the definition of participating party to include an international governmental entity. The bill would make various technical changes. This bill would also enact the California Economic Development Infrastructure Finance Act of 2014 to create the California Infrastructure Finance Center to administer the provisions of this act, as specified, under the oversight of the bank. This bill would authorize the creation of California infrastructure development corporations, as specified, and establish requirements for those corporations to secure participation rights, as part of forming public-private partnerships with the bank in building infrastructure related to economic-related activities. Participation rights include a commitment by the state to use the California Infrastructure Development Corporation to deliver infrastructure projects. Participation rights also include the right of first refusal by the corporation to participate in public-private partnership projects (P3 projects) and if it should choose to participate, a preestablished minimum participation rate in financing each and all P3 projects. This bill would also provide an exemption from specified public contracting requirements for contracts entered into between the bank and these corporations. This bill would also establish conflict of interest provisions for persons implementing the act or participating in a California Infrastructure Development Corporation. This bill would make a violation of these provisions a felony, thereby creating a crime and a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Who sponsors AB 2729?
AB 2729 is sponsored by Medina.
What is the current status of AB 2729?
This bill died with 2013-2014 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 2729?
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