Adrin Nazarian
- Democratic
Author
Existing law, the Marks-Roos Local Bond Pooling Act of 1985, authorizes certain joint powers authorities, upon application by a local agency that owns and operates a publicly owned utility, defined to mean certain utilities furnishing water or wastewater service to not less than 25,000 retail customers, to issue rate reduction bonds to finance utility projects, as defined, subject to certain requirements. Under the act, these rate reduction bonds are secured by a pledge of utility project property, and the joint powers authority issuing the bonds may impose on, and collect from, customers of the publicly owned utility a utility project charge to finance the bonds, as provided. This bill would expand the definition of a publicly owned utility for these purposes to include a local publicly owned electric utility, as defined. The bill would authorize an authority to issue rate reduction bonds to finance or refinance utility projects for the provision of generation, transmission, or distribution of electrical service. The bill would include in the allowable costs of a public capital improvement, a utility project, or portion of the improvement or utility project financed with rate reduction bonds the cost of tangible and intangible property that is related to all or any part of the cost of construction, renovation, and acquisition of all lands, structures, real or personal property, rights, rights-of-way, franchises, easements, and interests acquired to be used for a public capital improvement or a utility project. The bill would include in the definition of local agency a party to the agreement creating the authority, or an agency or subdivision of that party sponsoring a project of public capital improvements or other utility project, as defined. The act authorizes a local agency that owns and operates a publicly owned utility to apply to specified joint powers authorities to finance costs of a utility project for the publicly owned utility with the proceeds of rate reduction bonds if specified conditions are met, including that the local agency make specified determinations. The act requires the California Pollution Control Financing Authority, among other things, to review each issuance of rate reduction bonds issued under these provisions, except as provided, and to submit an annual report to the Legislature of its activities related to these bond issuance requirements. Under existing law, the authority to issue rate reduction bonds, as described above, terminates after December 31, 2026. This bill would extend this sunset date to December 31, 2036. The bill would also make clarifying changes to the act. The bill would require the annual report to be submitted to the relevant legislative policy committees with jurisdiction over energy and public utilities issues.
Chaptered by Secretary of State - Chapter 233, Statutes of 2021.
Approved by the Governor.
Enrolled and presented to the Governor at 4:30 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 0. Page 2648.).
Assembly Rule 77 suspended. (Ayes 58. Noes 17. Page 2625.)
In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 2 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2225.).
Read second time. Ordered to third reading.
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 13. Noes 0.) (July 12).
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass and re-refer to Com. on E., U. & C. (Ayes 5. Noes 0.) (June 24). Re-referred to Com. on E., U. & C.
Referred to Coms. on GOV. & F. and E., U. & C.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 0. Page 1655.)
Read second time. Ordered to Consent Calendar.
From committee: Do pass. To Consent Calendar. (Ayes 15. Noes 0.) (May 19).
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 28).
From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.
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 19.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB758 | HTML |
| 02/16/21 - Introduced | |
| 03/11/21 - Amended Assembly | |
| 04/19/21 - Amended Assembly | |
| 05/03/21 - Amended Assembly | |
| 07/15/21 - Amended Senate | |
| 08/17/21 - Amended Senate | |
| 09/03/21 - Enrolled | |
| 09/23/21 - Chaptered |
| Document | Format |
|---|---|
| 04/27/21- Assembly Local Government | |
| 05/17/21- Assembly Appropriations | |
| 06/21/21- Senate Governance and Finance | |
| 07/09/21- Senate Energy, Utilities and Communications | |
| 08/18/21- Sen. Floor Analyses | |
| 08/31/21- ASSEMBLY FLOOR ANALYSIS |
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