Robert M. Hertzberg
- Democratic
Author
Existing law establishes the California Debt and Investment Advisory Commission to, among other things, maintain contact with state and municipal bond issuers, underwriters, investors, and credit rating agencies to improve the market for state and local government debt issues and to assist state and local governments to prepare, market, and sell their debt issues. Existing law requires the commission to collect, maintain, and provide comprehensive information on all state and all local debt authorization and issuance and to serve as a statistical clearinghouse for all state and local debt issuance. This bill would additionally require the commission to track and report on all state and local outstanding debt until fully repaid or redeemed. Existing law requires the issuer of debt of state or local government to submit reports to the commission, within specified timeframes, of the proposed issuance of debt and of final sale, as provided. This bill would require that the report of proposed debt include a certification by the issuer that it has adopted local debt policies, which include specified provisions concerning the use of debt and that the contemplated debt issuance is consistent with those local debt policies. This bill would also require a state or local public agency to submit an annual report for any issue of debt for which it has submitted a report of final sale on or after January 21, 2017. The bill would require the annual report to cover a reporting period of July 1 to June 30, inclusive, and to include specified information about debt issued and outstanding and the use of proceeds from debt during the reporting period. The bill would require that the report be submitted within 7 months after the end of the reporting period by any method approved by the commission. The bill would require the commission to consult with appropriate state and local debt issuers and organizations representing debt issuers prior to approving any annual method of reporting pursuant to these provisions, as provided. This bill would make various findings and declarations regarding its provisions.
Chaptered by Secretary of State. Chapter 307, Statutes of 2016.
Approved by the Governor.
Enrolled and presented to the Governor at 1:30 p.m.
Assembly amendments concurred in. (Ayes 39. Noes 0.) Ordered to engrossing and enrolling.
In Senate. Concurrence in Assembly amendments pending.
Read third time. Passed. (Ayes 78. Noes 0. Page 5920.) Ordered to the Senate.
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 20. Noes 0.) (August 11).
August 3 set for first hearing. Placed on APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (June 29). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 39. Noes 0. Page 4102.) Ordered to the Assembly.
Read second time and amended. Ordered to third reading.
From committee: Do pass as amended. (Ayes 7. Noes 0. Page 4002.) (May 27).
Set for hearing May 27.
May 9 hearing: Placed on APPR. suspense file.
Set for hearing May 9.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR.
April 11 hearing postponed by committee.
Set for hearing April 11.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0. Page 3335.) (March 30). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
Set for hearing March 30.
From printer. May be acted upon on or after March 17.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB1029 | HTML |
| 02/12/16 - Introduced | |
| 03/17/16 - Amended Senate | |
| 04/27/16 - Amended Senate | |
| 05/31/16 - Amended Senate | |
| 06/15/16 - Amended Assembly | |
| 08/15/16 - Amended Assembly | |
| 08/26/16 - Enrolled | |
| 09/12/16 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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