Kevin McCarty
- Democratic
- Assemblymember
- District 6
Author
The Municipal Utility District Act authorizes the formation of a municipal utility district and authorizes a district to acquire, construct, own, operate, control, or use works for supplying the inhabitants of the district and public agencies with light, water, power, heat, transportation, telephone service, or other means of communication, or means for the collection, treatment, or disposition of garbage, sewage, or refuse matter. This bill would authorize the Sacramento Municipal Utility District to operate a pilot project, until January 1, 2025, to allow the board of directors of the district to hold nonstock security in a corporation or other private entity if acquired as part of a procurement of goods or services from that entity, provided that (1) no separate funding is expended solely for the nonstock security and (2) the value of each nonstock security acquisition, at the time of the acquisition, does not exceed 3% of the district's annual revenue in the fiscal year the district makes the acquisition. The bill would authorize the governing board of the district to sell or otherwise dispose of the nonstock security when, in its judgment, it is in the best interests of the district to do so. The bill would limit the pilot program to 3 acquisitions and would require that any profit or gain earned by the acquisitions be used to benefit the district's ratepayers.
Chaptered by Secretary of State - Chapter 230, Statutes of 2019.
Approved by the Governor.
Enrolled and presented to the Governor at 3:30 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 65. Noes 0. Page 2794.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 21 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 32. Noes 1. Page 2200.).
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 5. Noes 0.) (June 26).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on GOV. & F.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 65. Noes 0. Page 1395.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 11. Noes 0.) (April 22).
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on B. & F. (Ayes 5. Noes 0.) (April 10).
From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.
From printer. May be heard in committee March 21.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB689 | HTML |
| 02/15/19 - Introduced | |
| 03/21/19 - Amended Assembly | |
| 04/11/19 - Amended Assembly | |
| 06/19/19 - Amended Senate | |
| 08/23/19 - Enrolled | |
| 09/05/19 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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