reglab/statecodes huggingface dataset:
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44531.

44531. (a)  All projects shall be constructed or completed subject to the rules and regulations of the authority.
(b)  The authority is authorized to acquire, by deed, purchase, lease, contract, gift, devise, or otherwise, any real or personal property, structures, rights, rights-of-way, franchises, easements, and other interests in lands located within this state necessary or convenient for the construction or operation of a project, upon such terms and conditions as it deems advisable, and to lease, sell, or dispose of the same in such manner as may be necessary or desirable to carry out the objects and purposes of this division. Nothing in this division shall authorize the authority to exercise the power of eminent domain.
(Repealed and added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44532.

44532. When the principal of and interest on bonds of the authority issued to finance or refund the cost of a particular project for a participating party shall have been fully paid and retired or when adequate provision shall have been made for the payment and retirement of the same, and all other conditions of the resolution, indenture, or agreement authorizing and securing the same shall have been satisfied and the lien of the resolution, indenture, or agreement shall have been released in accordance with the provisions thereof, the authority is authorized, upon terms and conditions as may be prescribed by the authority, to execute these deeds and conveyances as are necessary or required to convey title to the project to the participating party.
(Amended by Stats. 2009, Ch. 643, Sec. 14. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44534.

44534. (a) The authority shall take initial action on any completed application for financing submitted to it by a participating party no later than the next meeting of the authority that occurs after at least 30 days following receipt of the application. The authority may delegate to its executive director or any other official or employee of the authority to grant initial approval for financing to a participating party.
(b) The authority shall take final action with regard to the issuance of bonds or notes to lend financial assistance to a participating party within 60 days of receipt by the authority of a request from the participating party for the issuance of bonds or notes.
(c) A request from a participating party for final approval of the issuance of bonds or notes shall be accompanied by evidence of the fulfillment of all conditions to the issuance of the bonds or notes and by copies of forms of all principal legal documents to be approved by the authority, which shall be satisfactory in form and substance to the Attorney General.
(d) The authority may give final approval for the issuance of bonds or notes upon terms as it deems necessary and desirable.
(Amended by Stats. 2009, Ch. 643, Sec. 16. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44536.

44536. The authority may approve financing for a pollution control facility, or equipment for a facility, that is not owned by the applicant if the facility or equipment is a component of an approved tradeoff package to achieve air quality standards. The authority may also approve financing for projects where the owner of the project enters into a lease or operating agreement with another entity that will use the project. In either case both the owner and the user shall be treated as participating parties.
(Amended by Stats. 2009, Ch. 643, Sec. 18. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44537.

44537. The authority shall take all reasonable steps to publicize its programs so that eligible applicants may be aware of them.
(Amended by Stats. 2009, Ch. 643, Sec. 19. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44537.5.

44537.5. The authority shall provide the maximum opportunity for the use of the authority’s financing by individuals, businesses engaged in agricultural operations, and small businesses or corporations by providing information, assistance, and coordination to facilitate financing for small projects and other financing that benefits the environment and the economy of the state, including financing for projects for the disposal of agricultural wastes, with special attention to the needs of businesses that do not meet standard commercial lending requirements but provide public benefits, such as job creation or retention and the redevelopment for economically beneficial uses of contaminated properties. The authority shall assist with the financing of the costs of, among other things, assessment of, remedial planning and reporting for, technical assistance for, and the cleanup, remediation, or development of, brownfield sites, and any other similar or related costs, by providing the loans authorized pursuant to subdivision (h) of Section 44526. The authority shall provide the maximum opportunity to provide loan funding pursuant to subdivision (h) of Section 44526 to assist brownfield site financing assistance programs where the sites are located in economically struggling communities suffering from a low level of income or a high level of poverty or unemployment.
(Amended by Stats. 2001, Ch. 160, Sec. 1. Effective August 9, 2001.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44538.

44538. The authority, no later than March 31 of each year, shall submit to the Legislature and to the Treasurer a report of its activities for the preceding calendar year ended December 31. The report shall include (1) a listing of applications received, (2) a listing of applications accepted for financing, (3) specification of bonds sold, interest rates thereon, and whether bond sales were pursuant to public bid or were negotiated, (4) specification of the amount of bonds authorized but currently unsold, (5) a projection of the authority’s needs and requirements for the coming year, and (6) a report of revenues and expenditures for the preceding fiscal year. The Treasurer shall review the report and advise the Legislature in writing of any problems and of any impact on the state’s credit rating and the state’s ability to borrow funds for state programs.
(Amended by Stats. 1983, Ch. 352, Sec. 5. Effective July 25, 1983.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 4 - General Powers and Duties › Section 44539.

44539. An applicant for financing for a project involving a waste water treatment plan shall provide evidence satisfactory to the State Water Resources Control Board that the waste water treatment facilities will be operated and maintained by competent personnel. Such evidence shall include, but not be limited to, a description of operating procedures, organizational structure, minimum personnel requirements and training program.
(Added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 5 - Bonds and Notes › Section 44540.

44540. The authority is authorized to incur indebtedness and to issue securities of any kind or class, and to renew the same, provided that all such indebtedness, howsoever evidenced, shall be payable solely from revenues of the authority.
(Repealed and added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 5 - Bonds and Notes › Section 44541.

44541. At such times as the authority desires to issue bonds, as defined in Section 44542, it shall adopt a resolution specifying the total amount of such bonds proposed to be issued.
(Repealed and added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 5 - Bonds and Notes › Section 44543.

44543. (a) In the discretion of the authority, any bonds issued under the provisions of this division may be secured by a trust agreement by and between the authority and a trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the state. The trust agreement or the resolution providing for the issuance of bonds may pledge or assign the revenues to be received or proceeds of any contract or contracts pledged and may convey or mortgage the project or projects, or any portion thereof, to be financed out of the proceeds of bonds. The trust agreement or resolution providing for the issuance of bonds may contain provisions for protecting and enforcing the rights and remedies of the bondholders, or any provider of credit enhancement, as may be reasonable and proper and not in violation of law, including particular provisions as have hereinabove been specifically authorized to be included in any resolution or resolutions of the authority authorizing bonds thereof. Any bank or trust company doing business under the laws of this state that may act as depository of the proceeds of bonds or of revenues or other moneys may furnish these indemnifying bonds or pledge securities as may be required by the authority. Any trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders or any provider of credit enhancement. In addition to the foregoing, any trust agreement or resolution may contain other provisions as the authority may deem reasonable and proper for the security of the bondholders. Notwithstanding any other law, the Treasurer shall not be deemed to have a conflict of interest by reason of acting as trustee pursuant to this division.
(b) All expenses incurred in carrying out the provisions of a trust agreement or resolution may be treated as a part of the cost of the operation of a project.
(Amended by Stats. 2010, Ch. 414, Sec. 3. (SB 1477) Effective September 28, 2010.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 5 - Bonds and Notes › Section 44544.

44544. Bonds issued under the provisions of this division shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof, other than the authority, or a pledge of the faith and credit of the state or of any such political subdivision, other than the authority, but shall be payable solely from the funds herein provided therefor. All such bonds shall contain on the face thereof a statement to the following effect:
“Neither the faith and credit nor the taxing power of the State of California or any local agency is pledged to the payment of the principal of or interest on this bond.”
The issuance of bonds under the provisions of this division shall not directly or indirectly or contingently obligate the state or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment. Nothing in this section contained shall prevent nor be construed to prevent the authority from pledging its full faith and credit to the payment of bonds or issue of bonds authorized pursuant to this division.
(Repealed and added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 5 - Bonds and Notes › Section 44545.

44545. (a) The authority may provide for the issuance of bonds of the authority for the purpose of refunding, directly or indirectly, any bonds, notes, or other evidences of indebtedness of the authority or a public agency then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest or subsequent date of redemption, purchase, or maturity of these bonds, and, if deemed advisable by the authority, for the additional purpose of paying all or any part of the cost of constructing and acquiring additions, improvements, extensions, or enlargements of a project or any portion thereof.
(b) The proceeds of any bonds issued for the purpose of refunding outstanding bonds, notes, or other securities may, in the discretion of the authority, be applied to the purchase or retirement at maturity or redemption of outstanding bonds either on their earliest or any subsequent redemption date or upon the purchase or retirement at the maturity thereof and may, pending application, be placed in escrow to be applied to purchase or retirement at maturity or redemption on a date as may be determined by the authority.
(c) Pending this use, any of these escrowed proceeds may be invested and reinvested by the Treasurer or any trustee in instruments as may be specified in the resolution or indenture governing the bonds to be refunded, maturing at the time or times as shall be appropriate to ensure the prompt payment, as to principal, interest and redemption premium, if any, of the outstanding bonds to be so refunded. The interest, income, and profits, if any, earned or realized on this type of investment may also be applied to the payment of the outstanding bonds to be so refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of these proceeds and interest, income, and profits, if any, earned or realized on the investments thereof may be returned to the authority for use by it in any lawful manner.
(d) All of these bonds shall be subject to the provisions of this division in the same manner and to the same extent as other bonds issued pursuant to this division. If the authority refunds bonds or evidences of indebtedness not originally issued by the authority, the authority shall make findings that the project being refinanced qualifies as a project under this division.
(Amended by Stats. 2009, Ch. 643, Sec. 22. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 5 - Bonds and Notes › Section 44549.

44549. Any funds of the authority, including proceeds from the sale of bonds or notes issued after the effective date of this section, money set aside for the authority’s administrative expenses, and small business assistance funds created under Section 44548, may be invested in any obligations of any state or local government meeting the requirements of subdivision (a) of Section 103 of the Internal Revenue Code of 1954 (26 U.S.C. Sec. 103 (a)) including mutual funds, trusts, and similar instruments representing a pool of obligations. The Treasurer may adopt regulations providing appropriate investment standards for these investments. If the Treasurer determines it to be necessary to assure compliance with federal tax laws or regulations, the authority may, notwithstanding any other provision of law, deposit funds received as fees from the issuance of its obligations, including small business assistance funds, with a bank or trust company acting on behalf of the authority. Notwithstanding any other provision of law, the authority may also make investments of moneys set aside for the authority’s administrative expenses or in any small business assistance funds by making or purchasing interest-bearing loans to qualified small businesses which are to be assisted pursuant to Section 44548, or under terms and with such security as the authority determines to be appropriate.
(Amended by Stats. 1991, Ch. 397, Sec. 2.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44550.

44550. The authority may contract with any participating party for the construction or acquisition of a project by the participating party. All contracts for the construction or acquisition of a project by a participating party shall provide that the participating party shall be responsible for the architectural and engineering design and for the construction and completion thereof subject to standards for architectural and engineering design as may be established, and subject to supervision as the authority deems necessary. The authority may agree to pay the cost of a project constructed or acquired by any participating party and to advance costs from time to time in installments or otherwise as required by the contract for the construction or acquisition thereof. Title to all of these projects may be vested in the authority subject to the terms of any lease thereof to the participating party or the rights of a participating party under any contract for the purchase or acquisition of the project including the payment of the purchase price under installment sales contracts.
(Amended by Stats. 2009, Ch. 643, Sec. 25. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44552.

44552. The authority may enter into contracts of sale with any participating party covering any project financed by the authority. The purchase price pursuant to such contract of sale shall be sufficient to provide funds for all the purposes provided in Section 44551 and may be paid in installments, together with interest on the unpaid balance, or otherwise, as may be mutually agreed and set forth in such contract of sale. All payments received by the authority under any installment sales or conditional sales contract shall be applied by the authority substantially in the same manner as hereinabove provided in Section 44551 in the case of lease payments or rental charges received by the authority.
(Repealed and added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44552.5.

44552.5. (a) As an alternative to leasing or selling a project to a participating party, the authority may finance the acquisition, construction, or installation of a project by means of a loan to the participating party. The principal amount of the participating party’s obligation as borrower shall be sufficient to provide funds for all the purposes specified in subdivisions (a), (b), and (c) of Section 44551 and may be paid in installments, together with interest on the unpaid balance, or otherwise as may be mutually agreed by the authority and the participating party and set forth in the loan agreement. Loans made pursuant to this section may be secured or unsecured in the discretion of the authority.
(b) The authority may also purchase or acquire from a financial institution part or all of a loan made to a participating party for a project meeting the requirements of this division.
(c) Section 44550 shall not apply to projects constructed with moneys loaned pursuant to this section.
(Amended by Stats. 2009, Ch. 643, Sec. 26. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44553.

44553. All moneys received pursuant to the provisions of this division, whether as proceeds from the sale of bonds, notes, or other evidences of indebtedness or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this division. Any bank or trust company with which these moneys shall be deposited shall act as trustee of these moneys and shall hold and apply the same for the purposes hereof, subject to regulations as the resolution authorizing the bonds of any issue or the trust agreement securing these bonds may provide.
(Amended by Stats. 2010, Ch. 414, Sec. 4. (SB 1477) Effective September 28, 2010.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44554.

44554. Any holder of bonds, notes, or other obligations issued under the provisions of this division, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any trust agreement securing, bonds, notes, or other obligations, may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce any and all rights under the laws of the state or granted hereunder or under resolution or trust agreement, and may enforce and compel the performance of all duties required by this division or by resolution or trust agreement to be performed by the authority or by any officer, employee, or agent thereof, including the fixing, charging, and collecting of the rates, rents, fees, and charges herein authorized and required by the provisions of the resolution or trust agreement to be fixed, established, and collected.
(Amended by Stats. 2009, Ch. 643, Sec. 28. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44555.

44555. The exercise of the powers granted by this division shall be in all respects for the benefit of the people of this state, for their health and welfare, and protection of the state’s environment. Any bonds, notes, or other obligations issued under the provisions of this division, their transfer and the income therefrom, shall at all times be free from taxation of every kind by the state and by municipalities and other political subdivisions of the state.
(Amended by Stats. 2009, Ch. 643, Sec. 29. (SB 832) Effective November 2, 2009.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44556.

44556. The authority shall not be required to pay any property taxes or assessments upon, or in respect to, a project or any property acquired by or for the authority under the provisions of this division or upon the income therefrom, so long as the authority holds title to such project or the property or facilities comprised in the project. The exemption of the authority from taxation of any project herein provided shall cease forthwith when title to such property is transferred from the authority to any participating party. The provisions of this section shall not exempt any participating party from taxation with respect to any project, or the property or facilities comprised in any project, which may otherwise be applicable to such participating party.
(Repealed and added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 6 - Construction and Leases of Facilities › Section 44557.

44557. Subject to Section 44562, the existence of the authority may be terminated at any time by the Legislature. Upon dissolution of the authority, the title to all properties owned by it shall vest in and become the property of the State of California and shall not inure to the benefit of any private party.
(Repealed and added by Stats. 1979, Ch. 839.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 7 - California Investment and Innovation Program › Section 44558.1.

44558.1. (a) (1) The authority shall establish the California Investment and Innovation Program for the purpose of providing grants to enhance the capacity of community development financial institutions to provide technical assistance and capital access to economically disadvantaged communities in this state.
(2) The authority shall adopt guidelines for the implementation of this program consistent with this article.
(b) The California Investment and Innovation Fund is created in the State Treasury. The authority shall allocate moneys in the fund to eligible recipients in accordance with this article. Notwithstanding Section 13340 of the Government Code, all moneys in the fund are continuously appropriated to the authority to carry out the purposes of this article. All moneys accruing to the authority pursuant to this article from any source shall be deposited into the fund.
(c) The California Investment and Innovation Fund may receive funds from any source, including, but not limited to, the federal government, philanthropic entities, financial institutions, and state funds appropriated for this purpose.
(d) The authority may access moneys in the fund for administrative costs as necessary to implement the program, subject to conditions, if any, stipulated in the appropriation of the funds.
(e) Notwithstanding any other law, the authority may direct the Treasurer to invest moneys in the fund that are not required for its current needs in the eligible securities specified in Section 16430 of the Government Code as the authority shall designate. The authority may direct the Treasurer to deposit moneys in interest-bearing accounts in state or national banks or other financial institutions having principal offices located in the state. The authority may alternatively require the transfer of moneys in the fund to the Surplus Money Investment Fund for investment pursuant to Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4 of Title 2 of the Government Code. All interest or other increment resulting from an investment or deposit shall be deposited into the fund, notwithstanding Section 16305.7 of the Government Code. Moneys in the fund shall not be subject to transfer to any other fund pursuant to any provision of Part 2 (commencing with Section 16300) of Division 4 of Title 2 of the Government Code, except the Surplus Money Investment Fund.
(Added by Stats. 2022, Ch. 68, Sec. 30. (SB 193) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 7 - California Investment and Innovation Program › Section 44558.2.

44558.2. (a) When funding is available, the authority shall make the funding available to eligible applicants selected by the authority to participate in the program. Unless otherwise prohibited by law, the authority shall use the available funding to do all of the following:
(1) Develop an application process for awarding grants to eligible applicants pursuant to the program and require each eligible applicant to submit an application in the form and manner prescribed by the authority.
(2) Set aside at least 20 percent of any amount made available in a program funding round for eligible applicants that are small and emerging community development financial institutions.
(3) Ensure that eligible recipients receiving grants pursuant to the program serve geographically diverse areas, both urban and rural, across this state.
(b) (1) When funding is available, the authority shall make grants available in one or more rounds of funding availability, not to exceed fifteen million dollars ($15,000,000) in total grants in any calendar year.
(2) Awards shall be announced by February 1 of each year. The first round of funding shall be awarded by February 1, 2024.
(3) Funds shall be available for use by the grantee for a period of two years, as specified in the grant agreement entered into pursuant to Section 44558.3. Grant funds shall be used as prescribed by the article and the grant agreement for a period of two years. Upon the expiration of that two-year period and that grant agreement, there shall be no limitation on the use of the grant funds.
(4) Any income generated from the grant award during the term of grant agreement entered into pursuant to Section 44558.3 shall be reinvested by the grantee into activities allowable under the grant agreement.
(c) As part of the application process described in subdivision (a), the authority shall determine the amount that any eligible applicant who submits a timely and complete application may receive per calendar year, subject to the following conditions:
(1) All eligible applicants that submit a timely and complete application shall receive a grant. In each round of funding the authority shall, in announcing the availability of funding, establish a minimum and maximum grant amount.
(2) For the purpose of determining the amount of individual grants, the authority shall develop criteria to adjust the size of awards based on the total amount of loans closed by the applicant in the most recently completed fiscal year.
(3) After receiving a grant in one year, an eligible applicant may apply in a future funding round if the eligible applicant has made reasonable progress in deploying the previously awarded grant funding.
(Added by Stats. 2022, Ch. 68, Sec. 30. (SB 193) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 7 - California Investment and Innovation Program › Section 44558.3.

44558.3. (a) Prior to receiving any grant funds under this program, an applicant selected by the authority to participate in the program shall enter into a grant agreement with the authority that requires the applicant to do all of the following:
(1) Achieve specific goals related to capacity building described in subdivision (b).
(2) Provide information requested by the authority to support administration of the program.
(3) Comply with terms and conditions imposed by the authority.
(b) Unless otherwise prohibited by law, an eligible applicant that receives grant funds under the program may use those funds for either or both of the following purposes:
(1) (A) To increase total net assets for the purpose of increasing the eligible applicant’s capacity to attract additional financing that the applicant uses to fund loans, loss reserves, or other means of finance for any of the following:
(i) Commercial facilities that promote revitalization, community stability, or job creation or retention.
(ii) Businesses that provide jobs for low-income persons, are owned by low-income persons, or increase the availability of products and services to low-income persons.
(iii) Facilities providing health care, childcare, educational, cultural, or social services.
(iv) The provision of checking, savings accounts, check cashing, money orders, certified checks, automated teller machines, deposit taking, safe deposit box services, and other similar services.
(v) Development, preservation, or renovation of affordable housing.
(vi) Credit building consumer loans with charges that do not exceed the amounts allowed by Sections 22304.5 and Section 22370 of the Financial Code.
(B) For purposes of this section, “total net assets” means the amount of total assets minus total liabilities, as disclosed in an audited financial statement prepared according to generally accepted accounting principles.
(2) To increase working capital for the purpose of funding services and operations that contribute to the overall community development mission of the eligible applicant, including technical assistance, technology, training, and other activities that benefit low-income neighborhoods, undercapitalized business owners, and other socially and economically disadvantaged individuals.
(c) If a grantee is licensed pursuant to any division of the Financial Code and the grantee loses its license, the grant shall be forfeited and returned, in total, to the authority.
(Added by Stats. 2022, Ch. 68, Sec. 30. (SB 193) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 7 - California Investment and Innovation Program › Section 44558.4.

44558.4. (a) Notwithstanding any other law, including subdivision (a) of Section 44520, the authority may adopt, amend, or repeal rules and regulations for the administration of the program pursuant to this article without complying with the procedural requirements of Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code, except as described in subdivision (b).
(b) The authority shall provide a notice of proposed action as described in Section 11346.5 of the Government Code. The notice of proposed action shall be provided to the public at least 21 days before the close of the public comment period, and the authority shall schedule at least one public hearing as described in Section 11346.8 of the Government Code before the close of the public comment period. The committee shall maintain a rulemaking file as described in Section 11347.3 of the Government Code. The final version of the regulations shall be accompanied by a final statement of reasons as described in subdivision (a) of Section 11346.9 of the Government Code.
(c) These rules and regulations shall be effective immediately upon adoption by the authority.
(Added by Stats. 2022, Ch. 68, Sec. 30. (SB 193) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 7 - California Investment and Innovation Program › Section 44558.5.

44558.5. (a) The authority shall adopt guidelines for annual reporting by grantees that do all of the following:
(1) Provide a description of the grantee’s overall activities during the report period, including how the grant specifically contributed to these activities.
(2) Require a grantee to provide an annual financial statement and meet record retention and audit requirements for the duration of the grant to ensure compliance with the limitations and requirements of this article.
(3) Align the time period covered by the annual report required by this subdivision with the reporting period covered by the federal CDFI Program administered by the United States Department of the Treasury.
(4) For the purpose of tracking the impact of individual grant awards, establish that the performance period shall start no earlier than the date the grant award agreement entered into pursuant to Section 44558.3 is signed and the funding is under the control of the grantee.
(5) Unless otherwise prohibited by law, as a condition of receiving the grant, all grantees shall request businesses directly served by the grantee with grant funds to self-identify their gender, race, and ethnicity. Grantees shall annually report to the authority the information provided to them by the businesses.
(b) By March 1, 2024, and annually thereafter, the authority shall post a report on the authority’s internet website that describes the results of the program, including, but not limited to, the total number of grants awarded, the amount of previously awarded grants that have been reported as spent by the grantees, an aggregation of any data provided by grantees, and a descriptive summary of the information provided by grantees pursuant to subdivision (a) in the most recent reporting period. The authority shall also include in the report any recommendations for improving the effectiveness, transparency, and accountability of public funds deployed to community development financial entities to serve the unmet needs of, and build inclusive economic prosperity in, California’s lower income neighborhoods and undercapitalized small businesses.
(Added by Stats. 2022, Ch. 68, Sec. 30. (SB 193) Effective June 30, 2022.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 8 - Capital Access Loan Program for Small Businesses › Section 44559.

44559. (a)  The Legislature finds and declares that small businesses are responsible for a significant amount of environmental emissions in the state, but are less able than larger businesses to afford the investment in new equipment or process modifications needed to comply with environmental regulations, with regard to controlling emissions, preventing the creation of pollutants, contaminants, or waste products, and remediating contamination of properties with a reasonable potential for economically beneficial reuse. Additionally, small businesses faced with financial pressures will be likely to reduce expenditures to achieve environmental compliance. Better access to capital will allow small businesses to more easily comply with environmental mandates, and to remediate contamination of properties with a reasonable potential of economically beneficial reuse, and to succeed economically, generating additional revenue to state and local governments that can be used for environmental improvements, all to the benefit of all the residents of the state.
(b)  The Legislature also finds and declares that it is in the best interest of the state to expand the Capital Access Loan Program for small business regardless of whether the operations of the small business affect the environment, and to permit business loans to be included in the program for small businesses whose operations do not, necessarily, affect the environment. Small businesses have difficulty gaining access to capital for startup and expansion purposes. Small businesses owned by minorities and women have special capital access difficulties. In addition, small businesses operating in areas affected by military base closures are disadvantaged by limited access to capital. The Legislature finds that improving access to capital for these small businesses will spur investment, create jobs, expand economic opportunities, assist in the recovery of communities affected by defense and aerospace losses, assist in the recovery of neighborhoods and communities affected by contaminated properties that are not being used for economically beneficial purposes but which could be so used if the contamination was remediated, and help sustain and strengthen economic recovery in California.
(Amended by Stats. 2000, Ch. 915, Sec. 11. Effective January 1, 2001.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 8 - Capital Access Loan Program for Small Businesses › Section 44559.3.

44559.3. (a)  The authority shall establish a loss reserve account for each financial institution with which the authority makes a contract.
(b) The loss reserve account for a financial institution shall consist of moneys paid as fees by borrowers and the financial institution, moneys transferred to the account from a small business assistance fund, any matching federal moneys, and any other moneys provided by the authority or other source.
(c) Notwithstanding any other law, the authority may establish and maintain loss reserve accounts with any financial institution under any policies the authority may adopt.
(d) All moneys in a loss reserve account established pursuant to this article are the exclusive property of, and solely controlled by, the authority. Interest or income earned on moneys credited to the loss reserve account shall be deemed to be part of the loss reserve account. The authority may withdraw from the loss reserve account all, or a portion of, the interest or other income that has been credited to the loss reserve account. Any withdrawal made pursuant to this subdivision may be made prior to paying any claim and shall be used for the sole purpose of offsetting costs associated with carrying out the program, including administrative costs and loss reserve account contributions.
(e) The combined amount to be deposited by the participating financial institution into any individual loss reserve account over a three-year period, in connection with any single borrower or any group of borrowers among which a common enterprise exists, shall be not more than one hundred thousand dollars ($100,000).
(Amended by Stats. 2011, Ch. 484, Sec. 2. (AB 981) Effective January 1, 2012.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 8 - Capital Access Loan Program for Small Businesses › Section 44559.5.

44559.5. (a)  The authority shall establish procedures under which financial institutions participating in the program established pursuant to this article may submit claims for reimbursement for losses incurred as a result of qualified loan defaults. A participating financial institution that charges off all or part of an enrolled loan to the loss reserve account may file a claim for reimbursement with the authority if both of the following conditions are met:
(1)  The claim occurs contemporaneously with the action of the participating financial institution to charge off all or part of the loan.
(2)  The charge off on an enrolled loan is made in a manner that is consistent with the participating financial institution’s usual method for making determinations on business loans that are not enrolled loans.
(b)  Costs for which a financial institution may be reimbursed from its loss reserve account include the amount of loan principal charged off, accrued interest on the principal, reasonable out-of-pocket expenses incurred in pursuing its collection efforts, including preservation of collateral, and any other related costs. Proper documentation of the expenses shall be presented at the time of the claim.
(c)  If a participating financial institution files two or more claims contemporaneously, and there are insufficient funds in the reserve fund at that time to cover the entire amount of such claims, the institution may designate the order of priority in which the claims shall be paid.
(d)  A financial institution may seek reimbursement of loan losses prior to the liquidation of collateral from defaulted loans. The financial institution shall repay its loss reserve account for any moneys received as reimbursement under this section if the financial institution recovers moneys from the borrower or from the liquidation of collateral for the defaulted loan, less any reasonable out-of-pocket expenses incurred in collection of such amount.
(e)  In any case in which the payment of a claim under this section has fully covered a participating financial institution’s loss on an enrolled loan, the participating financial institution shall assign to the authority, and to any applicable federal agency in the event federal matching funds are involved, any right, title, or interest to any collateral, security, or other right of recovery in connection with a loan made under the program.
(f)  The executive director may adopt necessary rules for the authority to carry out its duties, functions, and powers relating to the program established pursuant to this article.
(Added by Stats. 1993, Ch. 1164, Sec. 4. Effective January 1, 1994.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 8 - Capital Access Loan Program for Small Businesses › Section 44559.6.

44559.6. The authority shall annually prepare a report to the Governor and the Legislature that describes the financial condition and programmatic results of the capital access loan program for small businesses authorized under this article. Programmatic results shall include, but not be limited to, the total number of businesses served, jobs created, jobs retained, the geographic distribution of the loans, and the breakdown of businesses served by industry sector for all new loans issued since the report for the prior year.
(Amended by Stats. 2011, Ch. 483, Sec. 4. (AB 901) Effective January 1, 2012.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 8 - Capital Access Loan Program for Small Businesses › Section 44559.7.

44559.7. The authority may enter into agreements with commercial banks or other financial institutions, or with other agencies of the state, to provide necessary assistance in carrying out the program authorized by this article, including origination and servicing of loans.
(Added by Stats. 1993, Ch. 1164, Sec. 4. Effective January 1, 1994.)
2023 California Code › Health and Safety Code - HSC › DIVISION 27 - CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY ACT › CHAPTER 1 - California Pollution Control Financing Authority › ARTICLE 8 - Capital Access Loan Program for Small Businesses › Section 44559.8.

44559.8. Notwithstanding this article, the authority may facilitate the development of a secondary market for a loan enrolled in the capital access loan program by providing security for that loan, thereby increasing participation in the program by financial institutions and improving access to capital for small businesses. For purposes of this section, the actions that the authority may take include, but are not necessarily limited to, assigning all, or a portion of, any loss reserve account to any other entity in connection with providing security for a loan, including a trustee of a securitization trust, transferring an enrolled loan from a participating financial institution to a securitization trust, and assisting underwriters in marketing a loan to the secondary market.
(Added by Stats. 1999, Ch. 756, Sec. 4. Effective October 10, 1999.)