California Code
TITLE 6.7 - INFRASTRUCTURE FINANCE
DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT

CHAPTER 1 - General Provisions

ARTICLE 1 - Findings and Declarations

Section 63000. - 63000. The Legislature finds and declares the following: (a) Economic...

Section 63002. - 63002. This division shall be known and may be cited...

ARTICLE 2 - Definitions

Section 63010. - 63010. For purposes of this division, the following words and...

CHAPTER 2 - California Infrastructure and Economic Development Bank

ARTICLE 1 - Creation of the Bank

Section 63021. - 63021. (a) There is within the Governor’s Office of Business...

Section 63021.5. - 63021.5. (a) The bank shall be governed and its corporate...

Section 63022. - 63022. The executive director shall manage and conduct the business...

Section 63022.5. - 63022.5. (a) The officers of the bank shall be subject...

Section 63023. - 63023. In administering and directing the day-to-day operations of the...

Section 63023.1. - 63023.1. The board may delegate to the executive director, or...

Section 63024. - 63024. The executive director may contract for technical services with...

Section 63024.5. - 63024.5. Where a state agency is authorized under state law...

Section 63025. - 63025. The bank board shall do the following: (a) Adopt...

Section 63025.1. - 63025.1. The bank board may do or delegate the following...

Section 63025.2. - 63025.2. Nothing in Section 63025.1 shall be construed to extend...

Section 63026. - 63026. The fiscal powers granted to the bank by this...

Section 63027. - 63027. (a) The bank may provide insurance or reinsurance of...

Section 63028. - 63028. The bank assumes and shall observe, keep, and perform...

ARTICLE 2 - General Provisions

Section 63030. - 63030. Bonds issued by the bank or a special purpose...

Section 63031. - 63031. No liability shall be incurred by the bank beyond...

Section 63032. - 63032. (a) Neither the bank nor a special purpose trust...

Section 63033. - 63033. The state does hereby pledge to, and agrees with,...

Section 63034. - 63034. The bank shall establish a reasonable schedule of administrative...

Section 63035. - 63035. (a) The bank shall, not later than January 1...

Section 63035.5. - 63035.5. The report required by Section 63035 shall be submitted...

Section 63036. - 63036. It is the intent of the Legislature that the...

ARTICLE 3 - Local Resolution Applying for Bank Financing

Section 63040. - 63040. (a) Following consultation with appropriate state and local agencies,...

Section 63041. - 63041. (a) Prior to submitting a project to the bank...

Section 63041.5. - 63041.5. (a) It is the intent of the Legislature to...

ARTICLE 4 - Financing of Transition Costs

Section 63042. - 63042. Notwithstanding any other provision of this division, a project...

ARTICLE 5 - Financing Economic Development Facilities

Section 63043. - 63043. Notwithstanding any other provision of this division, Article 3...

Section 63044. - 63044. The bank shall consider a project for conduit financing...

Section 63045. - 63045. In order to provide or arrange for the financing...

Section 63046. - 63046. No financing shall be made by the bank under...

Section 63047. - 63047. (a) Any loan entered into pursuant to this article...

ARTICLE 5.5 - Financing Public Development Facilities

Section 63047.1. - 63047.1. Any housing financed pursuant to this chapter shall meet...

ARTICLE 6 - State Water Pollution Control Revolving Fund Program

Section 63048. - 63048. For purposes of this article, the following terms have...

Section 63048.3. - 63048.3. Notwithstanding any other provision of this division, Article 3...

Section 63048.5. - 63048.5. (a) The bank may issue taxable or tax-exempt revenue...

ARTICLE 6.3 - Safe Drinking Water State Revolving Fund

Section 63048.55. - 63048.55. For the purposes of this article, the following terms...

Section 63048.56. - 63048.56. Notwithstanding any other law, Article 3 (commencing with Section...

Section 63048.57. - 63048.57. (a) The bank may issue taxable or tax-exempt revenue...

ARTICLE 6.5 - Tribal Compact Assets Securitization

Section 63048.6. - 63048.6. The definitions contained in this section are in addition...

Section 63048.63. - 63048.63. (a) The Legislature hereby finds and declares: (1) The...

Section 63048.65. - 63048.65. (a) Prior to July 1, 2015, three hundred twenty-one...

Section 63048.9. - 63048.9. This article and all powers granted hereby shall be...

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...

Section 63048.92. - 63048.92. The definitions contained in this section are in addition...

Section 63048.93. - 63048.93. (a) The bank is hereby authorized and empowered to...

Section 63048.94. - 63048.94. (a) Annually, commencing January 1, 2023, and no later...

Section 63048.95. - 63048.95. (a) (1) There is hereby created in the State...

Section 63048.96. - 63048.96. (a) (1) The bank may pledge any or all...

Section 63048.97. - 63048.97. (a) The bank may administer and distribute among the...

Section 63048.98. - 63048.98. All costs, liabilities, obligations, and expenses incurred in carrying...

Section 63048.99. - 63048.99. (a) Moneys in the Climate Catalyst Revolving Loan Fund...

Section 63048.100. - 63048.100. (a) Notwithstanding Chapter 2 (commencing with Section 12850) of...

ARTICLE 7 - Tobacco Settlement State Securitization

Section 63049. - 63049. The definitions contained in this section are in addition...

Section 63049.1. - 63049.1. (a) Subject to subdivision (c) and subdivision (d), as...

Section 63049.2. - 63049.2. Notwithstanding any other provision of this division, Article 3...

Section 63049.3. - 63049.3. Any sale of some or all of the tobacco...

Section 63049.4. - 63049.4. (a) On and after the effective date of each...

Section 63049.5. - 63049.5. The state acknowledges and agrees that its 57 counties,...

Section 63049.55. - 63049.55. (a) The Tobacco Asset Sales Revenue Fund is hereby...

ARTICLE 8 - Financing of Insurance Claims

Section 63049.6. - 63049.6. For purposes of this article, the following terms have...

Section 63049.62. - 63049.62. Notwithstanding any other provision of this division, a financing...

Section 63049.64. - 63049.64. (a) The bank may issue bonds pursuant to Chapter...

Section 63049.66. - 63049.66. The fund, and any other fund or account established...

ARTICLE 9 - Financing of School District Emergency Apportionments

Section 63049.67. - 63049.67. (a) Notwithstanding any other provision of this division, a...

Section 63049.68. - 63049.68. The State of California pledges that (a) the state...

ARTICLE 10 - Golden State Energy Financing

Section 63049.70. - 63049.70. (a) Notwithstanding this division, the financing of energy and...

CHAPTER 3 - California Infrastructure and Economic Development Bank Fund

Section 63050. - 63050. (a) There is hereby created in the State Treasury...

Section 63052. - 63052. (a) The bank may pledge any or all of...

Section 63053. - 63053. (a) The bank may administer and distribute among its...

Section 63054. - 63054. All expenses incurred in carrying out the purposes of...

Section 63055. - 63055. (a) Moneys in the infrastructure bank fund received from...

Section 63056. - 63056. (a) Notwithstanding Chapter 2 (commencing with Section 12850) of...

CHAPTER 4 - California Infrastructure Guarantee Trust Fund

Section 63060. - 63060. (a) There is hereby created in the State Treasury...

Section 63061. - 63061. Notwithstanding Chapter 2 (commencing with Section 12850) of Part...

Section 63062. - 63062. (a) The bank may, from time to time, direct...

Section 63063. - 63063. (a) There is a guarantee reserve account in the...

Section 63064. - 63064. (a) The Legislature may from time to time appropriate...

Section 63065. - 63065. (a) The obligation of the bank and of the...

Section 63066. - 63066. The bank may charge and collect insurance guarantee or...

Section 63067. - 63067. (a) Moneys in the infrastructure bank fund received from...

CHAPTER 5 - Revenue Bonds

Section 63070. - 63070. (a) The bank may, from time to time, issue...

Section 63071. - 63071. (a) Notwithstanding any other provision of law, but consistent...

Section 63072. - 63072. (a) The bank may give final approval for the...

Section 63073. - 63073. The Treasurer, the Governor, or the Lieutenant Governor is...

Section 63074. - 63074. (a) Bonds may be authorized to finance a single...

Section 63075. - 63075. Any resolution authorizing any bonds or the authorization of...

Section 63076. - 63076. Neither the officers of the bank nor any person...

Section 63077. - 63077. The bank, a special purpose trust, or any sponsor...

Section 63078. - 63078. In the discretion of the bank, a special purpose...

Section 63079. - 63079. (a) Bonds issued under this chapter do not constitute...

Section 63080. - 63080. The validity of any bonds issued under this chapter...

Section 63081. - 63081. (a) The bank or a special purpose trust may...

Section 63082. - 63082. Notwithstanding anything herein to the contrary, this act shall...

Section 63083. - 63083. Any and all bonds issued by the bank or...

Section 63084. - 63084. (a) Any issue of revenue bonds by the bank...

Section 63085. - 63085. Whenever the bank deems that it will increase the...

Section 63086. - 63086. The bank may employ financial consultants, advisers, and accountants,...

Section 63087. - 63087. Section 10295 and Sections 10335 to 10382, inclusive, of...

CHAPTER 6 - Small Business Financial Assistance Act of 2013

ARTICLE 1 - Introduction

Section 63088. - 63088. (a) This chapter shall be known, and may be...

Section 63088.1. - 63088.1. The Legislature finds all of the following: (a) Small...

ARTICLE 2 - Definitions

Section 63088.3. - 63088.3. Unless the context otherwise requires, the definitions in this...

ARTICLE 3 - Purpose

Section 63088.5. - 63088.5. (a) There is within the Governor’s Office of Business...

Section 63088.6. - 63088.6. To implement its responsibilities, a corporation shall undertake program...

ARTICLE 4 - Administrative Structure

Section 63089. - 63089. The bank board shall adopt directives and requirements concerning...

Section 63089.1. - 63089.1. (a) The program manager acting under the guidance of...

Section 63089.2. - 63089.2. (a) The use of state funds paid out to...

Section 63089.3. - 63089.3. (a) The program manager may temporarily suspend the guarantee...

Section 63089.4. - 63089.4. The bank is authorized to: (a) Approve new corporations...

ARTICLE 5 - Expansion Fund and Trust Fund

Section 63089.5. - 63089.5. (a) There is hereby continued in existence in the...

Section 63089.51. - 63089.51. (a) All money deposited in the expansion fund is...

Section 63089.52. - 63089.52. (a) The program manager, at his or her discretion,...

Section 63089.53. - 63089.53. Except as specified in subdivision (b) of Section 63089.54,...

Section 63089.54. - 63089.54. (a) There is hereby created in the State Treasury...

Section 63089.55. - 63089.55. The Director of Finance, with the approval of the...

Section 63089.56. - 63089.56. (a) The funds in the expansion fund shall be...

Section 63089.57. - 63089.57. Pursuant to this chapter and any directives and requirements...

Section 63089.58. - 63089.58. Each trust fund account shall consist of a loan...

Section 63089.59. - 63089.59. (a) The financial institution or financial company that is...

Section 63089.60. - 63089.60. (a) The program manager shall recommend whether the expansion...

Section 63089.61. - 63089.61. (a) The corporate guarantee shall be backed by funds...

Section 63089.62. - 63089.62. (a) It is the intent of the Legislature that...

ARTICLE 6 - Corporations, Miscellaneous

Section 63089.65. - 63089.65. (a) A corporation shall establish one or more loan...

Section 63089.66. - 63089.66. Unless delegated to its loan committee, the corporation’s board...

Section 63089.67. - 63089.67. A corporation may charge the borrower or financial institution...

ARTICLE 7 - Loan Guarantees

Section 63089.70. - 63089.70. (a) The Small Business Expansion Fund, which is hereby...

Section 63089.71. - 63089.71. (a) Among other priorities, corporations shall give high priority...

ARTICLE 8 - Direct Lending and Other Debt Instruments

Section 63089.80. - 63089.80. (a) A corporation may utilize funds for direct lending...

ARTICLE 9 - Disaster Loan Guarantees

Section 63089.90. - 63089.90. (a) Pursuant to Section 8684.2 and the contract between...

ARTICLE 10 - Surety Bond Guarantees

Section 63089.95. - 63089.95. In furtherance of the purposes set forth in Section...

Section 63089.96. - 63089.96. (a) In addition to the authority granted by Section...

ARTICLE 11 - Reporting

Section 63089.97. - 63089.97. Each corporation shall provide to the program manager, in...

Section 63089.98. - 63089.98. (a) Annually, not later than January 1 of each...

ARTICLE 12 - Venture Capital Program

Section 63089.99. - 63089.99. (a) A venture capital program is hereby established within...