Bill Text: CA SB118 | 2011-2012 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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

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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 to  the issuance and sale of 
revenue 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 with  the issuance and sale of  any
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 Controller  may recover any such costs by
direct transfer from the responsible agency   shall
invoice the state agency issuing the bonds for the costs incurred and
the state agency shall pay the undisputed invoice  .