CA AB2046

Authorizes joint powers authorities to issue bonds and enter into loan agreements for financing or refinancing projects located in other states, including working capital, until January 1, 2021.

Requires projects in other states to meet conditions including approval by local land use authority or state where project is situated, authority having at least 25 local agency members with prior financing experience, and substantial public benefit to California through one of five specified criteria (20% net proceeds to in-state projects, borrower's principal place of business in California with specified tax payments, 50+ full-time employees in California, tax payments of $100,000+, or developer conditions for multifamily housing).

Mandates joint powers authorities provide information to Legislative Analyst's Office by July 1, 2019 regarding bonds issued, projects financed, and public benefits accruing to California.

Requires Legislative Analyst to prepare and submit report to Legislature by January 1, 2020 on out-of-state project bond issuances and financing, with recommendations for modifying or extending the program.

Removes urgency statute language requiring immediate effect; makes temporary authorization expire January 1, 2021 with permanent prohibition on out-of-state project financing taking effect thereafter.