California 2015-2016 Regular Session Status: In Committee

AB 2841 — State infrastructure financing for seaports.

Last action — In committee: Held under submission.

  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 2015-2016 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Existing law authorizes the formation of a seaport infrastructure financing district to finance port or harbor infrastructure projects. Existing law requires that a harbor agency, as defined, prepare an infrastructure financing plan as part of a proposal to form a seaport infrastructure financing district, and requires that the plan meet specified requirements. Existing law authorizes a seaport infrastructure financing district to fund infrastructure projects through tax increment financing, consistent with the infrastructure financing plan and with the agreement of the new seaport infrastructure financing district's affected taxing entities. Existing law, the Bergeson-Peace Infrastructure and Economic Development Bank Act, establishes the Infrastructure and Economic Development Bank within the Governor's Office of Business and Economic Development, and requires the bank to establish criteria, priorities, and guidelines for the selection of projects to receive financial assistance from the bank, including, but not limited to, any combination of grants, loans, and the proceeds of bonds issued by the bank. This bill would require the bank, after consulting with appropriate state and local agencies, to establish criteria, priorities, and guidelines for the selection of infrastructure development and equipment purchase projects submitted by harbor agencies, as defined, for assistance from the bank, as specified. The bill would require the harbor agency to adopt a resolution that includes specified information, including, among others, the state fiscal and economic impacts estimated to result from the proposed infrastructure development or equipment purchase project. The bill would require the bank to approve the infrastructure development and equipment purchase project if the bank finds that the project is more likely than not to result in the harbor agency's estimated state fiscal and economic impacts. The bill would authorize the bank to require the harbor agency to meet a specified condition prior to providing the moneys appropriated by the Legislature for the infrastructure development and equipment purchase project.

Bill Text

Action History

  1. In committee: Held under submission.

  2. In committee: Set, first hearing. Referred to APPR. suspense file.

  3. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 8. Noes 0.) (April 13). Re-referred to Com. on APPR.

  4. Re-referred to Com. on L. GOV.

  5. Read second time and amended.

  6. From committee: Amend, and do pass as amended and re-refer to Com. on L. GOV. (Ayes 9. Noes 0.) (April 5).

  7. Referred to Coms. on J., E.D., & E. and L. GOV.

  8. Read first time.

  9. From printer. May be heard in committee March 22.

  10. Introduced. 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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Votes

Subjects

finance transportation
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Frequently asked questions

What does AB 2841 do?
Existing law authorizes the formation of a seaport infrastructure financing district to finance port or harbor infrastructure projects. Existing law requires that a harbor agency, as defined, prepare an infrastructure financing plan as part of a proposal to form a seaport infrastructure financing district, and requires that the plan meet specified requirements. Existing law authorizes a seaport infrastructure financing district to fund infrastructure projects through tax increment financing, consistent with the infrastructure financing plan and with the agreement of the new seaport infrastructure financing district's affected taxing entities. Existing law, the Bergeson-Peace Infrastructure and Economic Development Bank Act, establishes the Infrastructure and Economic Development Bank within the Governor's Office of Business and Economic Development, and requires the bank to establish criteria, priorities, and guidelines for the selection of projects to receive financial assistance from the bank, including, but not limited to, any combination of grants, loans, and the proceeds of bonds issued by the bank. This bill would require the bank, after consulting with appropriate state and local agencies, to establish criteria, priorities, and guidelines for the selection of infrastructure development and equipment purchase projects submitted by harbor agencies, as defined, for assistance from the bank, as specified. The bill would require the harbor agency to adopt a resolution that includes specified information, including, among others, the state fiscal and economic impacts estimated to result from the proposed infrastructure development or equipment purchase project. The bill would require the bank to approve the infrastructure development and equipment purchase project if the bank finds that the project is more likely than not to result in the harbor agency's estimated state fiscal and economic impacts. The bill would authorize the bank to require the harbor agency to meet a specified condition prior to providing the moneys appropriated by the Legislature for the infrastructure development and equipment purchase project.
Who sponsors AB 2841?
AB 2841 is sponsored by Travis Allen.
What is the current status of AB 2841?
This bill died with 2015-2016 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 2841?
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