(1) Existing law, the Marks-Roos Local Bond Pooling Act of 1985, authorizes certain joint powers authorities, among other powers, to issue bonds and loan the proceeds to local agencies to finance specified types of projects and programs. The act authorizes a local agency that owns and operates a publicly owned utility to apply to specified joint power authorities to finance costs of a utility project for the publicly owned utility with the proceeds of rate reduction bonds if certain conditions are satisfied. The act requires the California Pollution Control Financing Authority (CPCFA) to review each issue of bonds and make specified determinations and imposes related duties on the CPCFA.
This bill would remove the requirements and duties imposed on the CPCFA described above.
(2) Existing law establishes the Capital Access Loan Program for Small Businesses, which is administered by the CPCFA, to assist qualifying small businesses in the state access capital. The program authorizes CPCFA to contract with any financial institution, as defined, for the purpose of allowing the financial institution to participate in the program. The program requires that certain financial institutions be domiciled or have their principal office in the State of California.
This bill would also allow those financial institutions to be regulated by the Department of Financial Protection and Innovation.
Existing law establishes the California Capital Access Fund within the authority to be used for purposes of the program.
This bill would provide that all moneys in the fund are continuously appropriated to CPCFA for the purpose of carrying out the program and requires all moneys accruing to the authority pursuant to the program to be deposited into the fund. The bill would authorize other private, state, or federal funding sources to be received and accepted into the fund, as specified. By creating a continuously appropriated fund, this bill would make an appropriation.
(3) Existing law establishes the California Americans with Disabilities Act Small Business Capital Access Loan Program to assist small businesses in complying with the federal Americans with Disabilities Act of 1990. Existing law establishes the California Americans with Disabilities Act Small Business Capital Access Loan Program Fund, which is continuously appropriated to CPCFA for carrying out the purposes of the program. Existing law requires that all moneys in the fund be held in trust for the life of the program, subject to program expenditures and costs of administering the program. Existing law specifies those program expenditures.
This bill would include financial assistance, as defined and specified, as a program expenditure described above. By expanding the expenditures that may be made from a continuously appropriated fund, this bill would make an appropriation.
(4) Existing law establishes the California Seismic Safety Capital Access Loan Program to cover losses on qualified loans by participating lenders to qualified residential property owners or qualified small businesses, as those terms are defined. Existing law establishes the California Seismic Safety Capital Access Loan Program Fund, which is continuously appropriated to CPCFA for carrying out the purposes of the program. Existing law requires that all moneys in the fund be held in trust for the life of the program, subject to program expenditures and costs of administering the program. Existing law specifies those program expenditures.
This bill would include financial assistance, as defined and specified, as a program expenditure described above. By expanding the expenditures that may be made from a continuously appropriated fund, this bill would make an appropriation.

Statutes affected:
AB 407: 6588.7 GOV, 44559.1 HSC, 44559.13 HSC, 44559.14 HSC
02/04/25 - Introduced: 6588.7 GOV, 44559.1 HSC, 44559.13 HSC, 44559.14 HSC