reglab/statecodes huggingface dataset:
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 2 - General Provisions › Section 63032.

63032. (a) Neither the bank nor a special purpose trust authorized by the bank is required to pay any property taxes or assessments upon, or with respect to, any project or any property acquired by, or for, the bank under this division, or upon the income therefrom, so long as the bank, on behalf of the state, holds title to the project or to the property contained in the project.
(b) The exemption of the bank or of a special purpose trust from taxation of any property shall cease when title to the property is transferred from the bank to any taxable person or entity. This section does not exempt any taxable person or entity from taxation, including, but not limited to, taxation upon a possessory interest, with respect to any project, or the property of facilities contained in any project that may otherwise be applicable to the person.
(Amended by Stats. 1995, Ch. 863, Sec. 16. Effective January 1, 1996.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 2 - General Provisions › Section 63033.

63033. The state does hereby pledge to, and agrees with, the holders of any bonds issued under this division, and with those parties who may enter into contracts with the bank pursuant to this division, that the state will not limit or alter the rights hereby vested in the bank to finance any project and to fulfill the terms of any loan agreement, lease, or other contract with the agency pursuant to this division, or in any way impair the rights or remedies of the bondholders or of the parties until those bonds, together with interest thereon, are fully discharged or provision for this discharge has been made and those contracts are fully performed on the part of the bank. The bank, as agent for the state, may include this pledge and undertaking for the state in its obligations or contracts.
(Added by Stats. 1994, Ch. 94, Sec. 1. Effective January 1, 1995. Conditionally operative as prescribed by Sec. 17 of Ch. 94.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 2 - General Provisions › Section 63034.

63034. The bank shall establish a reasonable schedule of administrative fees, which shall be paid by the sponsor or the participating party pursuant to Section 63074, to reimburse the state for the costs of administering this division.
(Added by Stats. 1994, Ch. 94, Sec. 1. Effective January 1, 1995. Conditionally operative as prescribed by Sec. 17 of Ch. 94.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 2 - General Provisions › Section 63035.

63035. (a) The bank shall, not later than January 1 of each year, submit to the Strategic Growth Council, the Governor, the Speaker of the Assembly, the President pro Tempore of the Senate, the Legislature, and the Legislative Analyst’s Office, pursuant to Section 9795, a report for the preceding fiscal year ending on June 30 containing information on the bank’s activities relating to the infrastructure bank fund and programs. The report shall include all of the following:
(1) (A) Information on the infrastructure bank fund, including, but not limited to, its present balance, moneys encumbered, moneys allocated, repayments, and other sources of revenues received during the fiscal year.
(B) Information on the impact of the activities funded by the infrastructure bank fund moneys, including, but not limited to, the number of jobs created and retained, the environmental impact that resulted, and economic value provided to the state.
(2) A specification of conduit and revenue bonds sold and interest rates thereon, including, but not limited to, the use of the bond proceeds.
(3) The amount of other public and private funds leveraged by the assistance provided.
(4) A report of revenues and expenditures for the preceding fiscal year, including all of the bank’s costs. The information provided pursuant to this subdivision shall include, but need not be limited to, both of the following:
(A) The amount and source of total bank revenues. Revenues shall be shown by main categories of revenues, including the General Fund, special funds, federal funds, interest earnings, fees collected, and bond proceeds, for each bank program.
(B) The amount and type of total bank expenditures. Expenditures shall be shown by major categories of expenditures, including loans provided, debt service payments, and program support costs, for each bank program.
(5) A projection of the bank’s needs and requirements for the coming year.
(6) Recommendations for changes in state and federal law necessary to meet the objectives of this division.
(7) The contents of the report prepared by the program manager of the California Small Business Finance Center consistent with the requirements of Section 63089.98.
(8) The contents of the report containing Climate Catalyst Revolving Loan Fund Program activity consistent with the requirements of Section 63048.94.
(b) The executive director shall post the report on the bank’s internet website.
(Amended by Stats. 2022, Ch. 427, Sec. 12. (SB 1489) Effective January 1, 2023.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 2 - General Provisions › Section 63035.5.

63035.5. The report required by Section 63035 shall be submitted to the Governor and the Joint Legislative Budget Committee on a quarterly basis during the 1999–2000 fiscal year and the 2000–01 fiscal year.
(Added by Stats. 1999, Ch. 84, Sec. 3. Effective July 12, 1999.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 2 - General Provisions › Section 63036.

63036. It is the intent of the Legislature that the activities of the bank be fully coordinated with any future legislative plan involving growth management strategies designed to protect California’s land resource, and ensure its preservation and use it in ways which are economically and socially desirable. Further, all public works financed pursuant to this division, including those projects financed through the use of industrial development bonds under Title 10 (commencing with Section 91500), shall comply with Chapter 1 (commencing with Section 1720) of Part 7 of Division 2 of the Labor Code.
(Amended by Stats. 2001, Ch. 938, Sec. 1. Effective January 1, 2002.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 3 - Local Resolution Applying for Bank Financing › Section 63040.

63040. (a) Following consultation with appropriate state and local agencies, the bank shall establish criteria, priorities, and guidelines for the selection of projects to receive assistance from the bank. Projects shall comply with the criteria, priorities, and guidelines adopted by the bank.
(b) The criteria, priorities, and guidelines shall, at a minimum, be based upon the following:
(1) The State Environmental Goals and Policy Report, or its successor, approved pursuant to Article 5 (commencing with Section 65041) of Chapter 1.5 of Division 1 of Title 7. If the State Environmental Goals and Policy Report, or its successor, has not been adopted within two years of a statutorily required update, compliance with this paragraph is not required until the report is updated.
(2) If the sponsor is a state agency, board, commission, or department, the Capital and Infrastructure Project Planning Report, prepared by the Director of Finance pursuant to Article 2 (commencing with Section 13100) of Chapter 2 of Part 3 of Division 3 of Title 2.
(c) When the bank establishes or makes changes to the criteria, priorities, and guidelines, the bank shall notify the Governor, the fiscal and policy committees of the Legislature that exercise legislative oversight of the bank, and appropriate state and local agencies.
(d) The resolution required in Section 63041 shall have been adopted prior to the project’s selection by the bank.
(Amended by Stats. 2014, Ch. 132, Sec. 6. (AB 2749) Effective January 1, 2015.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 3 - Local Resolution Applying for Bank Financing › Section 63041.

63041. (a) Prior to submitting a project to the bank for consideration, the legislative body or bodies of the sponsor or sponsors of the project shall find, by resolution, each of the following:
(1) The project is consistent with the general plan of both the city and county, or city and county in the case of San Francisco, or only the county for projects in unincorporated areas in which the project is located.
(2) The proposed financing is appropriate for the specific project.
(3) The project facilitates effective and efficient use of existing and future public resources so as to promote both economic development and conservation of natural resources. The project develops and enhances public infrastructure in a manner that will attract, create, and sustain long-term employment opportunities.
(4) The project is consistent with the criteria, priorities, and guidelines for the selection of projects adopted pursuant to Section 63040.
(b) Upon the adoption of the resolution in subdivision (a) by the legislative body, the legislative body shall transmit the resolution to the executive director of the infrastructure bank.
(Amended by Stats. 1999, Ch. 84, Sec. 4. Effective July 12, 1999.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 3 - Local Resolution Applying for Bank Financing › Section 63041.5.

63041.5. (a) It is the intent of the Legislature to provide a one-time appropriation for financial assistance to local government to meet capital outlay and infrastructure needs.
(b) From the funds appropriated in Item 2920-111-0001 of the Budget Act of 1999, the sum of four hundred twenty-five million dollars ($425,000,000) shall be available for financial assistance, including, but not limited to, leveraged revolving fund loans, to local government sponsors for public development facilities, as specified in subdivision (q) of Section 63010 of the Government Code.
(c) From the funds appropriated in Item 2920-111-0001 of the Budget Act of 1999 and in Item 2920-111-0001 of the Budget Act of 1998 (Chapter 324 of the Statutes of 1998), the California Infrastructure and Economic Development Bank shall make no single loan in excess of 10 percent of the combined amount of these appropriations to the bank unless approved by unanimous consent of the membership of the Board of Directors of the California Infrastructure and Economic Development Bank and the Director of Finance provides a 30-day written notice to the Chairperson and Vice-Chairperson of the Joint Legislative Budget Committee.
(Added by Stats. 1999, Ch. 84, Sec. 5. Effective July 12, 1999.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 4 - Financing of Transition Costs › Section 63042.

63042. Notwithstanding any other provision of this division, a project for the financing of transition costs and the acquisition of transition property upon the request of an electrical corporation shall be deemed to be in the public interest and eligible for financing by the bank, and Article 3 (commencing with Section 63040) and Article 5 (commencing with Section 63043) shall not apply to the project or financing. The bank shall consider a project for financing transition costs and the acquisition of transition property upon filing of an application by an appropriate participating party, on the terms and conditions the bank shall determine. The bank shall establish procedures for the expeditious review of applications from electrical corporations for the issuance or approval of rate reduction bonds. The review may be concurrent with the Public Utilities Commission’s processing of an application for the pertinent financing order, so as to allow for the issuance of rate reduction bonds as quickly as feasible after the issuance of the pertinent financing order by the Public Utilities Commission. Notwithstanding any other provision of this division, the bank shall have no authority to alter or modify any term or condition related to the transition costs or the transition property as set forth in the pertinent financing order, and shall have no authority over any matter that is subject to the approval of the Public Utilities Commission under Article 5.5 (commencing with Section 840) of Chapter 4 of Part 1 of Division 1 of the Public Utilities Code.
(Added by renumbering Section 63048 by Stats. 1998, Ch. 4, Sec. 17. Effective January 1, 1999.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 5 - Financing Economic Development Facilities › Section 63043.

63043. Notwithstanding any other provision of this division, Article 3 (commencing with Section 63040) and Article 4 (commencing with Section 63042), shall not apply to any conduit financing for economic development facilities by the bank directly for the benefit of a participating party.
(Repealed and added by Stats. 1998, Ch. 4, Sec. 15. Effective January 1, 1999.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 5 - Financing Economic Development Facilities › Section 63044.

63044. The bank shall consider a project for conduit financing for economic development facilities upon filing of an application with the bank by an appropriate participating party, on the terms and conditions the bank shall determine. The bank shall establish procedures for the expeditious review of applications for the issuance or approval of bonds to finance economic development facilities.
(Repealed and added by Stats. 1998, Ch. 4, Sec. 15. Effective January 1, 1999.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 5 - Financing Economic Development Facilities › Section 63045.

63045. In order to provide or arrange for the financing of economic development facilities, the bank may:
(a) Issue taxable revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for economic development projects compatible with the public interest as specified in Section 63046.
(b) Issue taxable revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for the revolving loan funds and economic development projects of small business development corporations, local economic development corporations, community development corporations, and nonprofit organizations, which revolving loan funds and economic development projects shall be compatible with the public interest.
(c) Issue tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for economic development facilities as permitted by federal law and in accordance with applicable California law relating to the distribution of state allocations for private activity bonds. The proceeds of private activity bonds issued by the bank under any state allocation shall not be used to finance any housing. Projects so financed shall be compatible with the public interest as specified in Section 63046.
(d) Issue tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) for economic development facilities of public sector and nonprofit organizations qualifying for exemption under federal law.
(Amended by Stats. 2021, Ch. 356, Sec. 2. (AB 1297) Effective January 1, 2022.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 5 - Financing Economic Development Facilities › Section 63046.

63046. No financing shall be made by the bank under this article unless the bank shall have first determined that the financing or assistance meets the following public interest criteria:
(a) The financing, loan, grant, or other assistance is for a project or a use in the State of California.
(b) Those seeking funds or other assistance are capable of meeting obligations incurred under relevant agreements.
(c) In the case of loans or bonds, payments to be made under applicable financing documents are adequate to pay the current expenses of the bank in connection with the financing and to make payments on the bonds.
(d) The proposed financing is appropriate for the specific project.
(Repealed and added by Stats. 1998, Ch. 4, Sec. 15. Effective January 1, 1999.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 5 - Financing Economic Development Facilities › Section 63047.

63047. (a) Any loan entered into pursuant to this article may contain provisions for payment of a penalty if any recipient of funds under this article leaves this state prior to the completion of the full term of the loan.
(b) Projects that the board determines will produce long-term employment creation or retention shall receive first priority for financing.
(c) Any recipient of funds under this article that utilizes the funds for construction purposes, shall certify that the contractors are properly licensed by the Contractors’ State License Board.
(d) The bank shall require that the proposed economic development facilities be consistent with any existing local or regional comprehensive plan.
(e) The bank shall develop a policy regarding financing companies that move within this state so as to minimize any displacement of jobs.
(f) In addition to any other methods the bank may use to identify economic development projects, the bank shall utilize existing local economic development networks to identify these projects and prepare a plan, in consultation with local economic development networks and their organizations and representatives, to implement this policy.
(g) Any housing financed pursuant to this article shall meet all of the following conditions:
(1) Any housing financed as part of an economic development facility shall be required for the operation of the facility.
(2) No funds from the Infrastructure State Revolving Loan Program shall be used to finance any housing component of an economic development facility.
(3) The proceeds of private activity bonds issued by the bank under any state allocation shall not be used to finance any housing. Projects so financed shall be compatible with the public interest as specified in Section 63046.
(4) Any housing financed as part of an economic development project shall be incidental to the overall project and the cost of the housing component shall not represent more than 20 percent of the overall project costs financed by the bank.
(Amended by Stats. 2021, Ch. 356, Sec. 3. (AB 1297) Effective January 1, 2022.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 5.5 - Financing Public Development Facilities › Section 63047.1.

63047.1. Any housing financed pursuant to this chapter shall meet all of the following conditions:
(a) Any tax-exempt revenue bonds issued by the bank under a state allocation of private activity bond volume cap pursuant to Section 63045 shall not finance any housing component of a public development facility.
(b) No funds from the Infrastructure State Revolving Fund Program shall be used to finance any housing component of a public development facility.
(c) Any housing financed is required for the operation of the facilities.
(d) Any housing financed shall be incidental to the overall project and the cost of the housing component shall not represent more than 20 percent of the overall project costs financed by the bank.
(Added by Stats. 2021, Ch. 356, Sec. 4. (AB 1297) Effective January 1, 2022.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6 - State Water Pollution Control Revolving Fund Program › Section 63048.

63048. For purposes of this article, the following terms have the following meanings, unless the context clearly indicates or requires another meaning:
(a)“Board” means the State Water Resources Control Board.
(b) “Revolving fund” means the State Water Pollution Control Revolving Fund created by Chapter 6.5 (commencing with Section 13475) of Division 7 of the Water Code.
(Added by Stats. 2000, Ch. 1078, Sec. 1. Effective January 1, 2001.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6 - State Water Pollution Control Revolving Fund Program › Section 63048.3.

63048.3. Notwithstanding any other provision of this division, Article 3 (commencing with Section 63040), Article 4 (commencing with Article 63042), and Article 5 (commencing with Section 63043) do not apply to any financing provided by the bank to, or at the request of, the board in connection with the revolving fund.
(Added by Stats. 2000, Ch. 1078, Sec. 1. Effective January 1, 2001.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6 - State Water Pollution Control Revolving Fund Program › Section 63048.5.

63048.5. (a) The bank may issue taxable or tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) and deposit the proceeds from the bonds into the revolving fund or use the proceeds to refund bonds previously issued under this article. Bond proceeds may also be used to fund necessary reserves, capitalized interest, or costs of issuance.
(b) Except as may be provided in the governing documents with respect to bond anticipation notes, each of the bonds issued under this article shall, to the extent provided in the governing documents, be payable from, and secured by, all or a portion of the revenues in the revolving fund and the assets of the revolving fund, to the extent the revenues and assets are pledged by the board for those purposes.
(c) Bonds issued under this article shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof, other than the bank, or a pledge of the faith and credit of the state or of any political subdivision, but shall be payable solely from the revolving fund and the assets of the revolving fund, and the security provided by the revolving fund. All bonds issued under this article shall contain on the face of the bonds a statement to the same effect.
(Added by Stats. 2000, Ch. 1078, Sec. 1. Effective January 1, 2001.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.3 - Safe Drinking Water State Revolving Fund › Section 63048.55.

63048.55. For the purposes of this article, the following terms have the following meanings:
(a) “Department” means the State Department of Public Health.
(b) “Revolving fund” means the Safe Drinking Water State Revolving Fund established pursuant to Section 116760.30 of the Health and Safety Code.
(Added by Stats. 2011, Ch. 518, Sec. 3. (AB 1292) Effective January 1, 2012.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.3 - Safe Drinking Water State Revolving Fund › Section 63048.56.

63048.56. Notwithstanding any other law, Article 3 (commencing with Section 63040), Article 4 (commencing with Section 63042), and Article 5 (commencing with Section 63043) shall not apply to any financing provided by the bank to, or at the request of, the department in connection with the revolving fund.
(Added by Stats. 2011, Ch. 518, Sec. 3. (AB 1292) Effective January 1, 2012.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.3 - Safe Drinking Water State Revolving Fund › Section 63048.57.

63048.57. (a) The bank may issue taxable or tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) and deposit the proceeds from the bonds into the revolving fund or use the proceeds to refund bonds previously issued under this article. Bond proceeds may also be used to fund necessary reserves, capitalized interest, or costs of issuance.
(b) Except as may be provided in the governing documents with respect to bond anticipation notes, each of the bonds issued under this article shall, to the extent provided in the governing documents, be payable from, and secured by, all or a portion of the revenues in the revolving fund and the assets of the revolving fund, to the extent the revenues and assets are pledged by the department for those purposes.
(c) Bonds issued under this article shall not be deemed to constitute a debt or liability of the state or of any political subdivision of the state, other than the bank, but shall be payable solely from the revolving fund and the assets of the revolving fund, and the security provided by the revolving fund. All bonds issued under this article shall contain on the face of the bonds a statement to that effect.
(Added by Stats. 2011, Ch. 518, Sec. 3. (AB 1292) Effective January 1, 2012.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.5 - Tribal Compact Assets Securitization › Section 63048.6.

63048.6. The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that section shall govern the construction of this article, unless the context requires otherwise:
(a) “Compact assets” means moneys required to be paid to the state under Sections 4.3.1 and 4.3.3 of the designated tribal compacts and the state’s rights to receive those payments.
(b) “Designated tribal compacts” means the amended and new tribal-state compacts, which are ratified by the Legislature, and that, among other things, require certain payments to the state in exchange for the exclusive right of the compact tribes to engage in certain gaming activities in their respective core geographic markets, all as specified in the amended and new compacts, and that are designated by the Director of Finance pursuant to subdivision (a) of Section 63048.65.
(c) “Operating expenses” means the reasonable operating expenses of the special purpose trust and the bank, including, but not limited to, the costs of preparation of accounting and other reports, maintenance of the ratings on the bonds, insurance premiums, or other required activities of the special purpose trust, and fees and expenses incurred for professional consultants, advisors, fiduciaries, and legal counsel, including the fees and expenses of the Attorney General incurred in connection with the enforcement of the pledges and agreements of the state pursuant to Section 63048.8.
(Added by Stats. 2004, Ch. 91, Sec. 4. Effective July 1, 2004.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.5 - Tribal Compact Assets Securitization › Section 63048.63.

63048.63. (a) The Legislature hereby finds and declares:
(1) The financial and legal records of California Indian tribes and tribal business enterprises are records of a sovereign nation and are not subject to disclosure by private citizens or the state. This is explicitly recognized in amendments to tribal-state gaming compacts ratified by the Legislature, which provide for the securitization of annual payments to be received from the tribes by the state or by an agency, trust, fund, or entity specified by the state.
(2) In order to review the records of any Indian tribe relative to this securitization, the compacts require the execution of nondisclosure agreements.
(3) State entities statutorily charged with participating in the bond sale cannot perform those duties in the absence of that agreement, and the Legislature hereby acknowledges and agrees that documents containing tribal information are not public records, shall not be discussed in an open meeting, and that state officials privy to that information may execute nondisclosure agreements.
(b) Nothing in Division 10 (commencing with Section 7920.000) of Title 1 or any other provision of law shall permit the disclosure of any records of an Indian tribe received by the state, or by an agency, trust fund, or entity specified by the state, in connection with the sale of any portions of the designated tribal-state gaming compact assets or the issuance of bonds, or any summaries or analyses thereof. The transmission of the records, or the information contained in those records in an alternative form, to the state or the special purpose trust shall not constitute a waiver of exemption from disclosure, and the records and information once transmitted to the state or special purpose trust shall be subject to this same exemption from disclosure.
(c) The state and the special purpose trust are authorized to enter into nondisclosure agreements with Indian tribes agreeing not to disclose the materials described in subdivision (b).
(d) The nondisclosure agreements may include provisions limiting the representatives of the state and the special purpose trust authorized to review or receive records of the Indian tribe to those individuals directly working on the sale of portions of the designated compact assets or the issuance of the bonds.
(e) Nothing in Article 9 (commencing with Section 11120) of Chapter 1 of Part 1 of Division 3 of Title 2 of the Government Code shall be construed to prevent the bank from conducting a closed session to consider any records or information of an Indian tribe or any summaries or analyses thereof received by the state in connection with the sale of any portion of the compact assets or the issuance of bonds.
(Amended by Stats. 2021, Ch. 615, Sec. 212. (AB 474) Effective January 1, 2022. Operative January 1, 2023, pursuant to Sec. 463 of Stats. 2021, Ch. 615.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.5 - Tribal Compact Assets Securitization › Section 63048.65.

63048.65. (a) Prior to July 1, 2015, three hundred twenty-one million dollars ($321,000,000) of the one billion two hundred million dollars ($1,200,000,000) of loans from the Traffic Congestion Relief Fund to the General Fund was repaid using tribal gaming compact revenues. In 2016, an additional one hundred seventy-three million dollars ($173,000,000) was repaid from the General Fund.
(b) The remaining seven hundred six million dollars ($706,000,000) of loans from the Traffic Congestion Relief Fund to the General Fund shall be repaid pursuant to Section 14556.8.
(Repealed and added by Stats. 2017, Ch. 5, Sec. 11. (SB 1) Effective April 28, 2017.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.5 - Tribal Compact Assets Securitization › Section 63048.9.

63048.9. This article and all powers granted hereby shall be liberally construed to effectuate its intent and their purposes.
(Added by Stats. 2004, Ch. 91, Sec. 4. Effective July 1, 2004.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.7 - Climate Catalyst Revolving Loan Fund Act of 2020 › Section 63048.91.

63048.91. (a) This chapter shall be known, and may be cited, as the Climate Catalyst Revolving Loan Fund Act of 2020.
(b) Notwithstanding any other provision of this division, this article does not apply to any other activities, powers, and duties of the Infrastructure and Economic Development Bank under this division.
(c) The bank shall administer the Climate Catalyst Revolving Loan Fund to provide financial assistance for climate catalyst projects, as defined in subdivision (b) of Section 63048.92.
(d) Financial assistance for climate catalyst projects through the Climate Catalyst Revolving Loan Fund Program shall be provided at low-interest rates and at low-cost as determined by the bank, to support the projects directly and to attract additional third-party capital.
(Added by Stats. 2020, Ch. 10, Sec. 2. (AB 78) Effective June 29, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.7 - Climate Catalyst Revolving Loan Fund Act of 2020 › Section 63048.92.

63048.92. The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that section shall govern the construction of this article, unless the context requires otherwise:
(a) “Bank” means the Infrastructure and Economic Development Bank.
(b)  “Climate catalyst project” means any building, structure, equipment, infrastructure, or other improvement within California, or financing the general needs of any sponsor or participating party for operations or activities within California that are consistent with, and intended to, further California’s climate goals, activities that reduce climate risk, and the implementation of low-carbon technology and infrastructure.
(c) “Climate Catalyst Revolving Loan Fund” means revolving funds by that name created under, and administered pursuant to, this article to provide financial assistance for climate catalyst projects.
(d) “Climate Catalyst Revolving Loan Fund Program” means the program of that name to administer the Climate Catalyst Revolving Loan Fund and to provide financial assistance for climate catalyst projects, to be administered by the bank pursuant to this article and criteria, priorities, and guidelines to be adopted by the bank board.
(e) “Climate catalyst financing plan” means the bank’s report identifying potential categories and eligibility criteria of climate catalyst projects that may receive financial assistance under this article. The climate catalyst financing plan shall be based on the bank’s direct consultation with the consulting agencies.
(f) “Consulting agencies” means the state agencies set forth in subdivision (f) of Section 63048.93 and any additional state agencies identified pursuant to subdivision (g) of Section 63048.93.
(g) “Disadvantaged” when used in conjunction with a participating party recipient or potential recipient of financial assistance means a participating party that is economically disadvantaged, or is operating in a community characterized by socioeconomic indicators that may include, but are not limited to, low- to -moderate income, poverty rates, unemployment, educational attainment, and other disadvantaging factors that limit access to capital and other resources.
(h) “Sponsor” and “participating party” shall mean the same as defined in Section 63010, but also include federally recognized Native American tribes and tribal business enterprises located in California.
(Amended by Stats. 2021, Ch. 258, Sec. 4. (SB 155) Effective September 23, 2021.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.7 - Climate Catalyst Revolving Loan Fund Act of 2020 › Section 63048.94.

63048.94. (a) Annually, commencing January 1, 2023, and no later than January 1 of each year thereafter, the bank shall prepare and submit, as specified in subdivision (b), a report containing Climate Catalyst Revolving Loan Fund Program activity for the preceding fiscal year ending June 30, and including all of the following:
(1) Information on individual Climate Catalyst Revolving Loan Fund Program financing, specifically all of the following:
(A) Climate catalyst project category.
(B) Climate catalyst project description.
(C) Total climate catalyst project cost.
(D) Financial assistance amount.
(E) Outstanding financial assistance amount due.
(F) Aggregate amount of third-party financing.
(G) The county and city of the funded climate catalyst project.
(H) A description of the expected contribution of the climate catalyst project to the state’s climate policy objectives, including both greenhouse gas reduction and climate resilience benefits.
(I) Type and quality of any jobs created as a result of the financial assistance.
(2) Total number and type of financial assistance issued to small businesses.
(3) Total number and type of applications received.
(4) Recommendations on needed Climate Catalyst Revolving Loan Fund Program changes or improvements to meet the objectives of this article. The bank shall meet and confer with the state agencies identified in subdivision (f) of Section 63048.93, and any additional agencies added pursuant to subdivision (g) of Section 63048.93, prior to the annual submission of the report required herein in an effort to develop those recommendations.
(b) The report required pursuant to subdivision (a) shall be part of the report required by Section 63035.
(c) (1) The report shall be posted on the bank’s internet website.
(2) The report shall be presented to the bank board at its final public meeting of the calendar year in which the report was prepared. If the bank board holds no public meetings following the submission of the report, the report shall be presented to the bank board at its next available public meeting.
(Amended by Stats. 2022, Ch. 427, Sec. 13. (SB 1489) Effective January 1, 2023.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.7 - Climate Catalyst Revolving Loan Fund Act of 2020 › Section 63048.97.

63048.97. (a) The bank may administer and distribute among the accounts and subaccounts created under this article, at its discretion, the proceeds from any general obligation bonds issued in accordance with the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2).
(b) The assets of the Climate Catalyst Revolving Loan Fund shall be available for the payment of the salaries and other expenses incurred by the bank in connection with the administration of this article, all in accordance with this article.
(Added by Stats. 2020, Ch. 10, Sec. 2. (AB 78) Effective June 29, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.7 - Climate Catalyst Revolving Loan Fund Act of 2020 › Section 63048.98.

63048.98. All costs, liabilities, obligations, and expenses incurred in carrying out the purposes of this article shall be payable solely from funds provided for the purposes of this article, and no liability, cost, expense, or obligation shall be imposed upon the state or the bank beyond the extent to which money shall have been provided solely for the purposes of the bank’s activities authorized under this article.
(Added by Stats. 2020, Ch. 10, Sec. 2. (AB 78) Effective June 29, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.7 - Climate Catalyst Revolving Loan Fund Act of 2020 › Section 63048.99.

63048.99. (a) Moneys in the Climate Catalyst Revolving Loan Fund received from the proceeds of bonds issued pursuant to this division may not be transferred to any other fund except as necessary to pay the expenses of operating the Climate Catalyst Revolving Loan Fund Program.
(b) The bank, for deposit in the Climate Catalyst Revolving Loan Fund for use as set forth in this article, may borrow or receive moneys from other funds within the bank, as permitted by this division, or from any federal, state, or local agency, or any private entity, for the purposes of this article and as authorized by resolution of the board.
(Added by Stats. 2020, Ch. 10, Sec. 2. (AB 78) Effective June 29, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 6.7 - Climate Catalyst Revolving Loan Fund Act of 2020 › Section 63048.100.

63048.100. (a) Notwithstanding Chapter 2 (commencing with Section 12850) of Part 2.5 of Division 3 of Title 2 and Article 2 (commencing with Section 13320) of Chapter 3 of Part 3 of Division 3 of Title 2, expenditures of the Climate Catalyst Revolving Loan Fund shall not be subject to the supervision or approval of any other officer or division of state government, with the exception of the Legislature. However, the bank’s budget for the activities authorized in this article shall be prepared and reviewed not later than November 1 of each year.
(b) The bank’s budget regarding the Climate Catalyst Revolving Loan Fund shall include the amount of credit and liabilities of the fund, based on an audit of the fund at the close of the prior fiscal year. The bank’s operating budget in connection with the activities authorized under this article shall be subject to review and appropriation in the annual Budget Act.
(Added by Stats. 2020, Ch. 10, Sec. 2. (AB 78) Effective June 29, 2020.)
2023 California Code › Government Code - GOV › TITLE 6.7 - INFRASTRUCTURE FINANCE › DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT › CHAPTER 2 - California Infrastructure and Economic Development Bank › ARTICLE 7 - Tobacco Settlement State Securitization › Section 63049.

63049. The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that section shall govern the construction of this article, unless the context requires otherwise:
(a) “California escrow agreement” means the escrow agreement dated April 12, 2000, as amended, between the Attorney General, on behalf of the state, and the California escrow agent named in the agreement relating to the division between the state and the participating jurisdictions of amounts payable under the Master Settlement Agreement.
(b) “Consent decree and final judgment” means, collectively, the Consent Decree and Final Judgment entered in the Superior Court of the State of California for San Diego County on December 9, 1998, approving the Master Settlement Agreement, the memorandum of understanding, and the orders entered by the court on January 18, 2000, and July 30, 2001, approving the Agreement Regarding Interpretation of Memorandum of Understanding.
(c) “Master Settlement Agreement” means the settlement dated November 23, 1998, as amended, among the attorneys general of 46 states (including California), the District of Columbia, the Commonwealth of Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands, and Philip Morris Incorporated, R. J. Reynolds Tobacco Company, Brown and Williamson Tobacco Corporation, Lorillard Tobacco Company, and the other Subsequent Participating Manufacturers as defined therein.
(d) “Memorandum of understanding” means, collectively, the memorandum of understanding dated August 5, 1998, as amended, together with the Agreement Regarding Interpretation of Memorandum of Understanding, as amended, among the state and various local governments of the state to coordinate their pending cases and to allocate certain portions of the recovery under the Master Settlement Agreement.
(e) “Operating expenses” means the reasonable operating expenses of the special purpose trust, including, without limitation, the costs of preparation of accounting and other reports, maintenance of the ratings on the bonds, insurance premiums, or other required activities of the special purpose trust, and fees and expenses incurred for professional consultants and fiduciaries.
(f) “Tobacco assets” means all moneys required to be paid to the state under the Master Settlement Agreement, as further provided in the memorandum of understanding and the California escrow agreement, and all of the state’s rights to receive those payments.
(Amended by Stats. 2009, Ch. 28, Sec. 1. Effective August 6, 2009.)