Anna Caballero
- Democratic
- Senator
- District 14
Author
Existing law, the California Pollution Control Financing Authority Act, establishes the California Pollution Control Financing Authority (authority) , with specified powers and duties, and authorizes the authority to approve financing for projects or pollution control facilities to prevent or reduce environmental pollution. Existing federal law establishes the Capital Magnet Fund and makes moneys in that fund available to the United States Secretary of the Treasury to carry out a competitive grant program to attract private capital for, and increase investment in, certain affordable housing and economic development projects by providing grants, as provided, to Treasury-certified community development financial institutions or nonprofit organizations that meet specified criteria. Existing federal law, the federal Community Development Financial Institutions Program, provides financial and technical assistance to specified recipients to enhance their ability to provide specified financial products, financial services, and development services to, and in, their target markets in order to promote economic revitalization and community development through investment in, and assistance to, community development financial institutions, as defined and specified. This bill would authorize the authority to establish the California Investment and Innovation Program for the purpose of providing grants to enhance the capacity of specified community development financial institutions to provide technical assistance and capital access to economically disadvantaged communities in the state. The bill would establish the California Investment and Innovation Fund and, upon appropriation and the authority's establishment of the program, require the authority to award grants to eligible applicants, defined as community development financial institutions that meet specified criteria under the program, as provided. The bill would require eligible applicants, prior to receiving any grant funds, to enter into a grant agreement with the authority containing specified requirements. The bill would specify authorized uses of grant funds, including increasing working capital for the purpose of funding services and operations that contribute to the overall community development mission of the eligible applicant. The bill would require the authority to adopt, amend, or repeal guidelines for the operation of the program, as specified. The bill would make the authority's duties under these provisions contingent on the authority establishing the program. The bill would also, beginning on January 1, 2024, change the name of the authority to the California Community Development Financing Authority, as specified.
August 3 set for first hearing canceled at the request of author.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (June 21).
June 29 set for first hearing canceled at the request of author.
Read third time. Passed. (Ayes 39. Noes 0. Page 1417.) Ordered to the Assembly.
In Assembly. Read first time. Held at Desk.
Read second time. Ordered to third reading.
Ordered to second reading.
Read third time and amended.
From committee: Do pass. (Ayes 7. Noes 0. Page 1198.) (May 20).
Read second time. Ordered to third reading.
Set for hearing May 20.
April 19 hearing: Placed on APPR suspense file.
Set for hearing April 19.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 14. Noes 0. Page 670.) (April 5). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B., P. & E.D.
Set for hearing April 5.
Joint Rule 55 suspended. (Ayes 32. Noes 4. Page 272.)
(Ayes 32. Noes 4.)
Art. IV. Sec. 8(a) of the Constitution dispensed with.
From printer. May be acted upon on or after March 21.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB625 | HTML |
| 02/18/21 - Introduced | |
| 03/25/21 - Amended Senate | |
| 05/28/21 - Amended Senate | |
| 06/28/22 - Amended Assembly |
| Document | Format |
|---|---|
| 04/01/21- Senate Business, Professions and Economic Development | |
| 04/16/21- Senate Appropriations | |
| 05/22/21- Sen. Floor Analyses | |
| 06/01/21- Sen. Floor Analyses | |
| 06/19/22- Assembly Jobs, Economic Development, and the Economy |
Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.
If you notice any inconsistencies with these official sources, feel free to file an issue.