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CA AB2274
Bill
Status
7/23/2014
Primary Sponsor
Richard Gordon
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AI Summary
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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
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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)
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Removes the commission's authority to borrow moneys for meeting necessary expenses
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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