California 2015-2016 Regular Session Status: Enacted

SB 797 — Government finance.

Last action — Chaptered by Secretary of State. Chapter 249, Statutes of 2015.

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

This bill has been enacted into law. Introduced March 12, 2015. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Existing law specifies the types of securities that are eligible for the investment of surplus state funds, including commercial paper of "prime" quality as defined by a nationally recognized organization that rates these securities, if the commercial paper is issued by a corporation, trust, or limited liability company that is approved by the Pooled Money Investment Board as meeting specified conditions. Existing law prohibits a purchase of commercial paper from exceeding 180 days maturity. This bill would additionally include commercial paper issued by a federally or state-chartered bank or a state-licensed branch of a foreign bank that is approved by the Pooled Money Investment Board as meeting the specified conditions. This bill would prohibit a purchase of commercial paper from exceeding 270 days maturity. The County Jail Capital Expenditure Bond Act of 1981 authorized the issuance and sale of $280,000,000 in state general obligation bonds to finance the construction, reconstruction, remodeling, and replacement of county jails and for deferred maintenance. The act establishes the County Jail Capital Expenditure Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The County Jail Capital Expenditure Bond Act of 1984 authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance the construction, reconstruction, remodeling, and replacement of county jails and for deferred maintenance. The act establishes the County Jail Capital Expenditure Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The New Prison Construction Bond Act of 1981 authorized the issuance and sale of $495,000,000 in state general obligation bonds to finance the construction, renovation, and remodeling of state correctional facilities and for deferred maintenance. The act establishes the New Prison Construction Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The New Prison Construction Bond Act of 1984 authorized the issuance and sale of $300,000,000 in state general obligation bonds to finance the construction, renovation, and remodeling of state correctional facilities and for deferred maintenance. The act establishes the 1984 Prison Construction Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The Cameron-Unruh Beach, Park, Recreational, and Historical Facilities Bond Act of 1964 authorized the issuance and sale of $150,000,000 in state general obligation bonds to finance the acquisition and development of lands for recreational purposes. The act establishes the State Park and Recreation Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The State Beach, Park, Recreational, and Historical Facilities Bond Act of 1974, also known as the Z'berg-Collier Park Bond Act, authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance the acquisition and development of lands for recreational purposes. The act establishes the State Park and Recreation Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. Existing law, known as the Recreation and Fish and Wildlife Enhancement Bond Act of 1970, authorized the issuance and sale of $60,000,000 in state general obligation bonds to finance the design and construction of recreation facilities, fish and wildlife enhancement features, and fishing access sites. Existing law establishes the Recreation and Fish and Wildlife Enhancement Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by these provisions. The Clean Water Bond Law of 1970 authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance grants to municipalities for water reclamation projects. The Clean Water Bond Law of 1970 establishes the Clean Water Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by these provisions. The Clean Water Bond Law of 1974 authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance grants to municipalities for water reclamation projects. The Clean Water Bond Law of 1974 establishes the Clean Water Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by these provisions. This bill would repeal all of the above-described laws.

Bill Text

Action History

  1. Chaptered by Secretary of State. Chapter 249, Statutes of 2015.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4:30 p.m.

  4. In Senate. Ordered to engrossing and enrolling.

  5. Read third time. Passed. (Ayes 79. Noes 0. Page 2534.) Ordered to the Senate.

  6. Read second time. Ordered to consent calendar.

  7. From committee: Do pass. Ordered to consent calendar. (Ayes 16. Noes 0.) (July 15).

  8. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 11. Noes 0.) (July 6). Re-referred to Com. on APPR.

  9. Referred to Com. on B. & F.

  10. In Assembly. Read first time. Held at Desk.

  11. Read third time. Passed. (Ayes 36. Noes 0. Page 1028.) Ordered to the Assembly.

  12. Read second time. Ordered to consent calendar.

  13. From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar.

  14. Set for hearing May 11.

  15. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 7. Noes 0. Page 797.) (April 28). Re-referred to Com. on APPR.

  16. Set for hearing April 28.

  17. From committee with author's amendments. Read second time and amended. Re-referred to Com. on G.O.

  18. Referred to Com. on G.O.

  19. From printer. May be acted upon on or after April 12.

  20. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

  • Committee on Governmental Organization · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Committee on Governmental Organization

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

Votes

SB 797 G.O. Consent Calendar Second Day

Passed 79 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 70001
Democratic 4000
Republican 5000
Total 79001
% of votes cast 99%0%0%1%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Jones-Sawyer — Yea
Kim — Yea
Levine — Yea
Low — Yea
Maienschein — Yea
Mathis — Yea
Obernolte — Yea
Quirk — Yea
Rendon — Yea
Ting — Yea
Eggman — Yea
Cooper — Yea
Daly — Yea
Burke — Yea
Chang — Yea
Chau — Yea
Chiu — Yea
Salas — Yea
Gomez — Yea
Gordon — Yea
Cooley — Yea
Harper — Yea
Baker — Yea
Linder — Yea
Mayes — Yea
McCarty — Yea
Nazarian — Yea
O'Donnell — Yea
Olsen — Yea
Perea — Yea
Ridley-Thomas — Yea
Rodriguez — Yea
Steinorth — Yea
Thurmond — Yea
Waldron — Yea
Weber — Yea
Wilk — Yea
Williams — Yea
Gatto — Yea
Gray — Yea
Hadley — Yea
Atkins — Yea
Bonilla — Yea
Lopez — Yea
Holden — Yea
Campos — Yea
Medina — Yea
Bigelow — Yea
Chu — Not Voting
Chávez — Yea
Dababneh — Yea
Dodd — Yea
Melendez — Yea
Mullin — Yea
Santiago — Yea
Wagner — Yea
Wood — Yea
Frazier — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

Do pass. To Consent Calendar.

Passed 16 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 12001
Democratic 2000
Republican 2000
Total 16001
% of votes cast 94%0%0%6%
How each member voted (17)
Member Party Vote
Bloom — Yea
Rendon — Yea
Wagner — Yea
Wood — Yea
Eggman — Yea
Chang — Yea
Gomez — Yea
Daly — Yea
Bigelow — Yea
Quirk — Yea
Weber — Yea
Holden — Not Voting
Eduardo Garcia — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gallagher, James Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar

Passed 11 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 11001
Total 11001
% of votes cast 92%0%0%8%
How each member voted (12)
Member Party Vote
Achadjian — Yea
Brown — Yea
Kim — Yea
Perea — Yea
Ridley-Thomas — Yea
Gatto — Yea
Hadley — Not Voting
Chau — Yea
Dababneh — Yea
Low — Yea
Mark Stone — Yea
Travis Allen — Yea

Official roll call →

Consent Calendar 2nd SB797 Committee On G.O.

Passed 36 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 33003
Democratic 3000
Total 36003
% of votes cast 92%0%0%8%
How each member voted (39)
Member Party Vote
Anderson — Yea
Block — Yea
Hernandez — Yea
Hill — Yea
Huff — Yea
Lara — Yea
Leyva — Yea
Monning — Yea
Pavley — Not Voting
Cannella — Yea
Allen — Yea
Mitchell — Yea
Pan — Yea
De León — Yea
Runner — Yea
Galgiani — Yea
Hall — Not Voting
Hancock — Yea
Hertzberg — Yea
Hueso — Yea
Bates — Yea
Beall — Yea
Leno — Yea
Liu — Yea
Mendoza — Yea
Moorlach — Yea
Morrell — Yea
Nielsen — Yea
Roth — Yea
Vidak — Yea
Wieckowski — Yea
Wolk — Yea
Fuller — Yea
Beth Gaines — Yea
Bill Berryhill — Not Voting
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar

Passed 7 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 6004
Democratic 1000
Total 7004
% of votes cast 64%0%0%36%
How each member voted (11)
Member Party Vote
Block — Yea
Hill — Yea
Hueso — Yea
Galgiani — Not Voting
Hall — Yea
Hernandez — Yea
Lara — Yea
Vidak — Not Voting
Beth Gaines — Not Voting
Bill Berryhill — Not Voting
McGuire, Mike Democratic Yea

Official roll call →

Subjects

finance
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 SB 797 do?
Existing law specifies the types of securities that are eligible for the investment of surplus state funds, including commercial paper of "prime" quality as defined by a nationally recognized organization that rates these securities, if the commercial paper is issued by a corporation, trust, or limited liability company that is approved by the Pooled Money Investment Board as meeting specified conditions. Existing law prohibits a purchase of commercial paper from exceeding 180 days maturity. This bill would additionally include commercial paper issued by a federally or state-chartered bank or a state-licensed branch of a foreign bank that is approved by the Pooled Money Investment Board as meeting the specified conditions. This bill would prohibit a purchase of commercial paper from exceeding 270 days maturity. The County Jail Capital Expenditure Bond Act of 1981 authorized the issuance and sale of $280,000,000 in state general obligation bonds to finance the construction, reconstruction, remodeling, and replacement of county jails and for deferred maintenance. The act establishes the County Jail Capital Expenditure Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The County Jail Capital Expenditure Bond Act of 1984 authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance the construction, reconstruction, remodeling, and replacement of county jails and for deferred maintenance. The act establishes the County Jail Capital Expenditure Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The New Prison Construction Bond Act of 1981 authorized the issuance and sale of $495,000,000 in state general obligation bonds to finance the construction, renovation, and remodeling of state correctional facilities and for deferred maintenance. The act establishes the New Prison Construction Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The New Prison Construction Bond Act of 1984 authorized the issuance and sale of $300,000,000 in state general obligation bonds to finance the construction, renovation, and remodeling of state correctional facilities and for deferred maintenance. The act establishes the 1984 Prison Construction Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The Cameron-Unruh Beach, Park, Recreational, and Historical Facilities Bond Act of 1964 authorized the issuance and sale of $150,000,000 in state general obligation bonds to finance the acquisition and development of lands for recreational purposes. The act establishes the State Park and Recreation Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. The State Beach, Park, Recreational, and Historical Facilities Bond Act of 1974, also known as the Z'berg-Collier Park Bond Act, authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance the acquisition and development of lands for recreational purposes. The act establishes the State Park and Recreation Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by the act. Existing law, known as the Recreation and Fish and Wildlife Enhancement Bond Act of 1970, authorized the issuance and sale of $60,000,000 in state general obligation bonds to finance the design and construction of recreation facilities, fish and wildlife enhancement features, and fishing access sites. Existing law establishes the Recreation and Fish and Wildlife Enhancement Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by these provisions. The Clean Water Bond Law of 1970 authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance grants to municipalities for water reclamation projects. The Clean Water Bond Law of 1970 establishes the Clean Water Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by these provisions. The Clean Water Bond Law of 1974 authorized the issuance and sale of $250,000,000 in state general obligation bonds to finance grants to municipalities for water reclamation projects. The Clean Water Bond Law of 1974 establishes the Clean Water Finance Committee for the purpose of authorizing the issuance and sale of the bonds authorized by these provisions. This bill would repeal all of the above-described laws.
Who sponsors SB 797?
SB 797 is sponsored by Committee on Governmental Organization.
What is the current status of SB 797?
This bill has been enacted into law. Introduced March 12, 2015. Enacted.
Where can I track SB 797?
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