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CA AB2274

Bill

Status

Passed

7/23/2014

Primary Sponsor

Richard Gordon

Click for details

Origin

State Assembly

2013-2014 Session

AI Summary

  • Modifies reporting requirements for state and local government debt issuers, requiring submission of proposed issuance reports to the California Debt and Investment Advisory Commission no later than 30 days before sale and final sale reports within 21 days after sale

  • Expands the commission's authority to charge fees by adding "lender" as an eligible party to be charged, in addition to existing lead underwriters and purchasers, at a rate of one-fortieth of 1 percent of principal amount (capped at $5,000 per issue)

  • Removes the commission's authority to borrow moneys for meeting necessary expenses

  • Specifies documents that must accompany final sale reports, including official statements, indentures, loan agreements, bond purchase contracts, and authorizing resolutions, with allowance for redaction of confidential information

Legislative Description

The California Debt and Investment Advisory Commission.

Last Action

Chaptered by Secretary of State - Chapter 181, Statutes of 2014.

7/23/2014

Committee Referrals

Appropriations6/18/2014
Governance and Finance5/22/2014
Rules5/15/2014
Appropriations4/30/2014
Banking and Finance3/6/2014

Full Bill Text

No bill text available