Bill Text: CA SB90 | 2015-2016 | Regular Session | Amended
Bill Title: Public resources.
Spectrum: Unknown
Status: (Failed) 2016-11-30 - From Assembly without further action. [SB90 Detail]
Download: California-2015-SB90-Amended.html
BILL NUMBER: SB 90 AMENDED
BILL TEXT
AMENDED IN ASSEMBLY JUNE 16, 2015
INTRODUCED BY Committee on Budget and Fiscal Review
JANUARY 9, 2015
An act to amend Section 129160 of the Health and
Safety Code, and to amend Section 21189. 1 of the Public
Resources Code, relating to the Budget Act of 2015.
public resources, and making an
appropriation therefor, to take effect immediately, bill related to
the budget.
LEGISLATIVE COUNSEL'S DIGEST
SB 90, as amended, Committee on Budget and Fiscal Review.
Budget Act of 2015. Public resources.
(1) Existing law establishes the Office of Statewide Health
Planning and Development and sets forth its powers and duties,
including, but not limited to, the administration of the California
Health Facility Construction Loan Insurance Law for the purposes of
insuring health facility construction loans. Existing law authorizes
the office to make loans from the continuously appropriated Health
Facility Construction Loan Insurance Fund to participating health
facilities to finance or refinance the construction, improvement, or
expansion of health facilities. Existing law requires that all
debentures, as defined, issued under those provisions to any lender
or bondholder be executed in the name of the fund as obligor, be
signed by the State Treasurer, and be negotiable. Existing law
provides that in the event that the fund fails to pay the principal
or interest on debentures issued, then the State Treasurer is
required to pay to the holders the amount entitled out of any money
in the State Treasury not otherwise appropriated.
This bill would make those funds continuously appropriated from
the General Fund, thereby making an appropriation. The bill would
also require issued debentures to bear interest equal to the insured
loan or bond, as specified, and would require the State Treasurer to
take appropriate steps to provide that interest on debentures be
exempt from federal taxation, if tax exempt.
(2) The California Environmental Quality Act (CEQA) requires a
lead agency, as defined, to prepare, or cause to be prepared, and
certify the completion of, an environmental impact report on a
project that it proposes to carry out or approve that may have a
significant effect on the environment or to adopt a negative
declaration if it finds that the project will not have that effect.
CEQA also requires a lead agency to prepare a mitigated negative
declaration for a project that may have a significant effect on the
environment if revisions in the project would avoid or mitigate that
effect and there is no substantial evidence that the project, as
revised, would have a significant effect on the environment.
The Jobs and Economic Improvement Through Environmental Leadership
Act of 2011 authorizes the Governor, until January 1, 2016, to
certify projects meeting certain requirements for streamlining
benefits provided by that act. The act provides that if a lead agency
fails to approve a project certified by the Governor before January
1, 2016, then the certification expires and is no longer valid. The
act requires a lead agency to prepare the record of proceedings for
the certified project concurrent with the preparation of the
environmental documents.
This bill would provide that the certification expires and is no
longer valid if the lead agency fails to approve a certified project
before January 1, 2017. Because the bill would extend the obligation
of the lead agency to prepare concurrently the record of proceedings,
this bill would impose a state-mandated local program.
(3) 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.
(4) This bill would declare that it is to take effect immediately
as a bill providing for appropriations related to the Budget Bill.
This bill would express the intent of the Legislature to enact
statutory changes relating to the Budget Act of 2015.
Vote: majority. Appropriation: no yes
. Fiscal committee: no yes .
State-mandated local program: no yes .
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 129160 of the Health
and Safety Code is amended to read:
129160. (a) (1) All debentures issued
under this chapter to any lender or bondholder shall be executed in
the name of the fund as obligor, shall be signed by the State
Treasurer, and shall be negotiable. Pursuant to Sections 129125 and
129130, all debentures shall be dated as of the date of the
institution of foreclosure proceedings or as of the date of the
acquisition of the property after default by other than foreclosure,
or as of another date as the office, in its discretion, may
establish. The
(2) The debentures shall bear
interest from that date at a rate approved by the State
Treasurer, equal to either the rate applicable to the most recent
issue of State General Fund bonds or that specified in Section
129130, which shall be payable on the dates as the office, in its
discretion, may establish except in the case of bonds or other
evidences of indebtedness as specified in Section 129130, and shall
have the same maturity date as the loan which they insured
equal to the insured loan or bonds, and shall be payable on a
payment schedule identical with payments on the insured loan or
bonds. The State Treasurer shall take appropriate steps to the extent
feasible to provide that interest on the debentures shall be exempt
from federal income taxation under Section 103 of the Internal
Revenue Code to the extent interest on the insured loan or bonds is
exempt from federal income taxation under Section 103 of the Internal
Revenue Code on the date the insured loan or bonds is exchanged for
debentures . All debentures shall be exempt, both as to
principal and interest, from all taxation now or hereafter imposed by
the state or local taxing agencies, shall be paid out of the fund,
which shall be primarily liable therefor, and shall be, pursuant to
Section 4 of Article XVI of the California Constitution, fully and
unconditionally guaranteed as to principal and interest by the State
of California, which guaranty shall be expressed on the face of the
debentures. In
(3) In the event that the fund
fails to pay upon demand, when due, the principal of , or
interest on , any debentures issued under this chapter,
the State Treasurer shall pay to the holders the amount thereof
, which is authorized to be appropriated, out of any
money in amount, notwithstanding Section 13340 of the
Government Code, is hereby continuously appropriated from the General
Fund of the State Treasury not otherwise
appropriated , without regard to fiscal years ,
and thereupon to the extent of the amount so paid the State Treasurer
shall succeed to all the rights of the holders of the debentures.
The fund shall be liable for repayment to the General Fund of
the State Treasury of any money paid therefrom
from the General Fund pursuant to this section
in accordance with procedures jointly established by the State
Treasurer and the office.
(b) In the event of a default, any Any
debenture issued under this article shall be paid on a par with
general obligation bonds issued by the state.
SEC. 2. Section 21189.1 of the Public
Resources Code is amended to read:
21189.1. If, prior to January 1, 2016,
2017, a lead agency fails to approve a project certified by the
Governor pursuant to this chapter, then the certification expires
and is no longer valid.
SEC. 3. No reimbursement is required by this act
pursuant to Section 6 of Article XIII B of the California
Constitution because a local agency or school district has the
authority to levy service charges, fees, or assessments sufficient to
pay for the program or level of service mandated by this act, within
the meaning of Section 17556 of the Government Code.
SEC. 4. This act is a bill providing for
appropriations related to the Budget Bill within the meaning of
subdivision (e) of Section 12 of Article IV of the California
Constitution, has been identified as related to the budget in the
Budget Bill, and shall take effect immediately.
SECTION 1. It is the intent of the Legislature
to enact statutory changes relating to the Budget Act of 2015.
