- District 8
Existing law, the Bergeson-Peace Infrastructure and Economic Development Bank Act, establishes the Infrastructure and Economic Development Bank and authorizes it to, among other things, issue bonds, make loans, and provide other financial assistance to various types of projects that constitute economic development facilities or public development facilities. This bill would establish the Rural California Infrastructure Act to award grants to specified local agencies to fund rural infrastructure projects, as defined. The bill would create the Rural California Infrastructure Committee, consisting of 7 appointed members, to establish, by July 1, 2022, an application process for the grants and to award the grants, beginning on January 1, 2023, and every 2 years thereafter, in accordance with specified priorities. The bill would require the Controller to transfer a sum of $1,000,000,000 to the Rural California Infrastructure Fund in the State Treasury, which the bill would create and continuously appropriate for purposes of the act. By requiring the Controller to transfer moneys from the General Fund to the Rural California Infrastructure Fund for purposes of the program, the bill would make an appropriation.
No votes to display
Read first time.
From printer. May be heard in committee March 22.
Introduced. To print.
|Bill Text Versions||Format|
|02/19/21 - Introduced|
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