Bill Text: CA SB118 | 2011-2012 | Regular Session | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: State Controller's Office: reimbursement for expenses.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2012-09-23 - Chaptered by Secretary of State. Chapter 488, Statutes of 2012. [SB118 Detail]
Download: California-2011-SB118-Amended.html
Bill Title: State Controller's Office: reimbursement for expenses.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2012-09-23 - Chaptered by Secretary of State. Chapter 488, Statutes of 2012. [SB118 Detail]
Download: California-2011-SB118-Amended.html
BILL NUMBER: SB 118 AMENDED BILL TEXT AMENDED IN ASSEMBLY APRIL 26, 2012 AMENDED IN SENATE JANUARY 12, 2012 AMENDED IN SENATE JANUARY 4, 2012 AMENDED IN SENATE APRIL 28, 2011 INTRODUCED BY Senator Yee JANUARY 20, 2011 An act to add Section 12427 to the Government Code, relating to state government. LEGISLATIVE COUNSEL'S DIGEST SB 118, as amended, Yee. State Controller's Office: reimbursement for expenses. Existing law establishes the State Controller's Office and requires the Controller to, among other duties, account for scheduled expenditures and report monthly on revenue and each department's expenditures. Existing law provides for the means by which the Controller is reimbursed for actual expenses incurred in the administering or review of certain loans, assuring state general obligation bond compliance, and other related and necessary services. This bill would require each state agency to reimburse the Controller for the costs associated with the accounting of expenditures related tothe issuance and sale ofrevenue bonds , as specified .The bill would authorize the Controller to recover the costs by direct transfer from the responsible agency.The bill would require the Controller to invoice the state agency, as specified, and require the state agency to pay the undisputed invoice. Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 12427 is added to the Government Code, to read: 12427. Each state agency shall reimburse the Controller for the costs associated with the accounting of expenditures incurred in connection withthe issuance and sale ofany revenue bonds , not otherwise covered by the cost of issuance, by or on behalf of such agency as well as any other accounting services necessitated by the Controller until such time as the bonds are redeemed. The Controllermay recover any such costs by direct transfer from the responsible agencyshall invoice the state agency issuing the bonds for the costs incurred and the state agency shall pay the undisputed invoice .