Bill Text: CA SB225 | 2011-2012 | Regular Session | Chaptered

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Bill Title: California Pollution Control Financing Authority:

Spectrum: Bipartisan Bill

Status: (Passed) 2011-10-06 - Chaptered by Secretary of State. Chapter 492, Statutes of 2011. [SB225 Detail]

Download: California-2011-SB225-Chaptered.html

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BILL NUMBER: SB 225	CHAPTERED
	BILL TEXT

	CHAPTER  492
	FILED WITH SECRETARY OF STATE  OCTOBER 6, 2011
	APPROVED BY GOVERNOR  OCTOBER 5, 2011
	PASSED THE SENATE  AUGUST 30, 2011
	PASSED THE ASSEMBLY  AUGUST 25, 2011
	AMENDED IN ASSEMBLY  AUGUST 22, 2011
	AMENDED IN ASSEMBLY  JULY 13, 2011
	AMENDED IN ASSEMBLY  JUNE 29, 2011

INTRODUCED BY   Senator Simitian
   (Principal coauthor: Assembly Member Achadjian)

                        FEBRUARY 9, 2011

   An act to amend Section 44559.11 of, and to add Section 44559.12
to, the Health and Safety Code, relating to the California Pollution
Control Financing Authority, and declaring the urgency thereof, to
take effect immediately.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 225, Simitian. California Pollution Control Financing
Authority: Capital Access Loan Program.
   (1) The California Pollution Control Financing Authority Act
establishes the Capital Access Loan Program for small businesses,
administered by the California Pollution Control Financing Authority,
which provides loans through participating financial institutions to
qualifying small businesses. The authority is required to create a
loss reserve account for each financial institution. The act
authorizes the authority to enact regulations for the distribution of
specified funds paid to the authority.
   This bill would authorize the authority to establish loss reserve
accounts for the purposes of financing terminal rental adjustment
clause leasing, if funds are available for contribution into the loss
reserve account from any source other than the authority. The bill
would prohibit, for purposes of the loss reserve accounts for
terminal rental adjustment clause leasing, the use of funds provided
by the federal government for the purposes of providing a loan loss
reserve program.
   (2) This bill would declare that it is to take effect immediately
as an urgency statute.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 44559.11 of the Health and Safety Code is
amended to read:
   44559.11.  (a) It is the intent of the Legislature to ensure that
the state, through the authority, may make maximum, efficient use of
capital access programs enacted by all federal and state agencies, as
well as funding available from any governmental program whose goals
may be advanced by providing funding to the Capital Access Loan
Program.
   (b) In furtherance of this intent, and notwithstanding any other
provision of this article, when the contributions required pursuant
to Section 44559.4 are entirely funded by a source other than the
authority, the authority may, by regulation adopted pursuant to
subdivision (b) of Section 44520, establish alternate provisions as
necessary to enable the authority to participate in the alternative
funding source program.
  SEC. 2.  Section 44559.12 is added to the Health and Safety Code,
to read:
   44559.12.  (a) Consistent with subdivision (b) of Section
44559.11, the authority may establish loss reserve accounts for the
purposes of financing terminal rental adjustment clause leasing, if
funds are available for contribution into the loss reserve account
from any source other than the authority. The authority shall not
contribute any funds into a loss reserve account created pursuant to
this section. Funds provided by the federal government for the
purposes of providing a loan loss reserve program shall not be
contributed to an account created pursuant to this section.
   (b) The executive director may establish conditions for terminal
rental adjustment clause leasing loss reserve accounts created
pursuant to this section.
   (c) As used in this section, "terminal rental adjustment clause"
means "terminal rental adjustment clause" as defined in Section 7701
(h)(3) of Title 26 of the United States Code.
  SEC. 3.  This act is an urgency statute necessary for the immediate
preservation of the public peace, health, or safety within the
meaning of Article IV of the Constitution and shall go into immediate
effect. The facts constituting the necessity are:
   In order to ensure that the Capital Access Loan Program may
finance new programs for the protection of the environment, at the
earliest possible time, it is necessary for this act to take effect
immediately.