Bill Text: CA ACA16 | 2009-2010 | Regular Session | Introduced

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Bill Title: General obligation bonds: proceeds of sale.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2009-05-20 - In committee: Set, first hearing. Hearing canceled at the request of author. [ACA16 Detail]

Download: California-2009-ACA16-Introduced.html

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BILL NUMBER: ACA 16	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Nestande

                        MARCH 25, 2009

   A resolution to propose to the people of the State of California
an amendment to the Constitution of the State, by adding Section 1.2
to Article XVI thereof, relating to state debt.


	LEGISLATIVE COUNSEL'S DIGEST


   ACA 16, as introduced, Nestande. General obligation bonds:
proceeds of sale.
   The California Constitution requires that any debt or debts, or
liability or liabilities, created by the Legislature which shall,
singly or in the aggregate with any previous debts or liabilities,
exceed the sum of $300,000, with specified exceptions, be authorized
by law for some single object or work to be distinctly specified
therein, subject to specified conditions, including approval by the
voters.
   This measure would provide that debt subject to the above-stated
requirements that is approved by the voters after this measure
becomes effective could be incurred to fund only long-term
infrastructure. This measure would define long-term infrastructure as
the acquisition of land, including easements, rights-of-way, and
other forms of interest in land; the construction or acquisition of
improvements to land, including structures and equipment integral to
the operation of those structures; and the construction or
acquisition of roadways and water conveyances.
   Vote: 2/3. Appropriation: no. Fiscal committee: no. State-mandated
local program: no.



   Resolved by the Assembly, the Senate concurring, That the
Legislature of the State of California at its 2009-10 Regular Session
commencing on the first day of December 2008, two-thirds of the
membership of each house concurring, hereby proposes to the people of
the State of California that the Constitution of the State be
amended as follows:
    That Section 1.2 is added to Article XVI thereof, to read:
      SEC. 1.2.  (a) Indebtedness that is subject to Section 1 and is
approved by the voters on or after the effective date of this
section shall be incurred only to fund long-term infrastructure.
   (b) For purposes of this section, "long-term infrastructure" means
any of the following:
   (1) The acquisition of land, including easements, rights-of-way,
and other forms of interest in land.
   (2) The construction or aquisition of improvements to land,
including structures and equipment integral to the operation of those
structures.
   (3) The construction or acquisition of roadways and water
conveyances.