CA AB2518

Requires the California Infrastructure and Economic Development Bank to establish a local assistance program providing technical support to small and rural communities in obtaining financing for local infrastructure projects

Creates the Technical Assistance Account in the California Infrastructure Bank Fund and continuously appropriates funds to the bank for program implementation, with at least three professional and one staff position required

Prioritizes assistance to projects that remediate severe health and safety problems (first priority), promote economic development (second priority), and promote general health and safety (third priority)

Expands allowable uses of state bond proceeds to include outreach and technical assistance costs directly related to construction or acquisition of capital assets

Requires the bank to track each funding source individually and ensure only eligible communities and purposes receive assistance