AB 1608 Summary

• Transfers $1.3 billion from the General Fund to establish the State Project Infrastructure Fund for planning, acquisition, design, and construction of state projects, with $1 billion transferred by June 30, 2017, and $300 million by July 1, 2017.

• Creates the Department of FISCal to replace the FISCal Service Center and appoints a Director of FISCal (subject to Senate confirmation) to maintain, upgrade, and operate California's Financial Information System.

• Restructures the California Victim Compensation and Government Claims Board, renaming it the California Victim Compensation Board and transferring government claims duties to the Department of General Services.

• Modifies administrative cost recovery procedures, allowing the Department of Finance to allocate and charge costs directly to all funds rather than through quarterly transfers, with direction to the Controller for timing and amounts.

• Increases school building plan approval thresholds from $25,000 to $100,000 and requires structural engineer review for projects between $100,000 and $225,000 (adjusted annually for inflation beginning January 1, 2018).