California 2013-2014 Regular Session Status: In Committee

AB 311 — Economic development projects.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 authorizes the California Infrastructure and Economic Development Bank, governed by a board of directors, to make loans and provide other assistance to public and private entities for various types of economic development projects, among other things. The activities of the bank under these provisions are funded from the California Infrastructure and Economic Development Bank Fund, which is continuously appropriated for these purposes. This bill would authorize the board of directors to enter into development and financing agreements for projects within the California-Mexico border region, as defined. The bill would authorize the bank to establish and participate in a binational financing authority to facilitate and support the economic development of communities within the border region. The bill would require the bank to develop guidelines for the selection, review, and approval of border region projects and authorize the bank to issue bonds, the proceeds of which would be deposited in the Binational Development Account, which the bill would create within the fund. By expanding the purposes for which a continuously appropriated fund may be used, the bill would make an appropriation. The bill would state that certain provisions of this bill shall become operative only if the Executive Director of the California Infrastructure and Economic Development Bank determines that there are sufficient funds available to implement those provisions and submits a letter to the Legislature to that effect.

Bill Text

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Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. In committee: Set, first hearing. Hearing canceled at the request of author.

  4. From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 2.) (April 9). Re-referred to Com. on APPR.

  5. Referred to Com. on J., E.D., & E.

  6. From printer. May be heard in committee March 15.

  7. Read first time. To print.

Sponsors

Sponsorship breakdown

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

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"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.

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Frequently asked questions

What does AB 311 do?
The Bergeson-Peace Infrastructure and Economic Development Bank Act authorizes the California Infrastructure and Economic Development Bank, governed by a board of directors, to make loans and provide other assistance to public and private entities for various types of economic development projects, among other things. The activities of the bank under these provisions are funded from the California Infrastructure and Economic Development Bank Fund, which is continuously appropriated for these purposes. This bill would authorize the board of directors to enter into development and financing agreements for projects within the California-Mexico border region, as defined. The bill would authorize the bank to establish and participate in a binational financing authority to facilitate and support the economic development of communities within the border region. The bill would require the bank to develop guidelines for the selection, review, and approval of border region projects and authorize the bank to issue bonds, the proceeds of which would be deposited in the Binational Development Account, which the bill would create within the fund. By expanding the purposes for which a continuously appropriated fund may be used, the bill would make an appropriation. The bill would state that certain provisions of this bill shall become operative only if the Executive Director of the California Infrastructure and Economic Development Bank determines that there are sufficient funds available to implement those provisions and submits a letter to the Legislature to that effect.
Who sponsors AB 311?
AB 311 is sponsored by V. Manuel Pérez.
What is the current status of AB 311?
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 311?
Track AB 311 free on One Click Politics — get push/email alerts when it moves.

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