California Assembly Bill AB1645 Latest Draft

 BILL NUMBER: AB 1645AMENDED BILL TEXT AMENDED IN SENATE JUNE 21, 2010 AMENDED IN ASSEMBLY APRIL 20, 2010 INTRODUCED BY Assembly Member Nestande (Principal coauthor: Assembly Member Arambula) (Coauthor: Assembly Member Harkey) JANUARY 12, 2010 An act to add Section  13305.5   12021.1  to the Government Code, relating to state fiscal affairs. LEGISLATIVE COUNSEL'S DIGEST AB 1645, as amended, Nestande. General Fund  obligations and  liabilities: report   Governor's Budget  . Existing law requires the  Director of Finance to provide various reports to the Legislature regarding specified fiscal matters   annual budget submitted by the Governor to contain, among other things, statements of accounts payable and cash   flow for the preceding, current, and succeeding fiscal years  . This bill would require the  director, on February 1 of each year, to submit a written report to the Chairperson of the Joint Legislative Budget Committee containing   Governor's annual budget to contain  certain information  and recommendations  regarding General Fund obligations and liabilities  and would require the Governor, at the time of the   May Revision, to submit his or her recommendations for potential methods of retiring those obligations and liabilities identified in the budget  . Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section  13305.5   12021.1  is added to the Government Code, to read:  13305.5. On February 1 of each year, the Director of Finance shall submit a written report to the Chairperson of the Joint Legislative Budget Committee containing   12021.1.   (a)     The budget submitted by the Governor to the Legislature within the first 10 days of each regular session shall contain  all of the following:  (a)   (1)  A list of loans made to the General Fund and a summary of each loan, including its balance and the due date for repayment of the loan.  (b)   (2)  A list of General Fund obligations to pay deferred or suspended expenditures or to transfer funds to any special fund or account, and a summary of each obligation, including the amount of the obligation and the due date for the payment or transfer.  (c)   (3)  A list and summary of the state's key liabilities relating to debt, infrastructure, retirement, and the budget, and other liabilities that will affect the state's financial health in the future.  (d) Recommendations   (b)     At the time of the publication of the May Revision, the Governor shall submit to the Legislature his or her recommendations  for potential methods of retiring the liabilities and obligations  listed in the report   set forth in subdivision (a)  .