BILL NUMBER: SB 1484AMENDED BILL TEXT AMENDED IN SENATE APRIL 9, 2012 INTRODUCED BY Senator Pavley FEBRUARY 24, 2012 An act to amendSections 63000 and 63010Section 63021 of the Government Code, relating to infrastructure finance. LEGISLATIVE COUNSEL'S DIGEST SB 1484, as amended, Pavley. California Infrastructure and Economic Development Bank: clean energy technology. The Bergeson-Peace Infrastructure and Economic Development Bank Act establishes in the Business, Transportation and Housing Agency the California Infrastructure and Economic Development BankFundfor the purpose of funding specified types of infrastructure development projects.Existing law makes several legislative findings and declarations relating to the need for providing greater access to capital in specified industries and defines terms for purposes of the act.This bill wouldmodify one of the legislative findings and declarations relating to the need for providing greater access to capital in specified industries and define the term "clean energy technology."instead establish the California Infrastructure and Economic Development Bank within the Governor's Office of Business and Economic Development. Vote: majority. Appropriation: no. Fiscal committee:noyes . State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 63021 of the Government Code is amended to read: 63021. (a) There is within theBusiness, Transportation and Housing AgencyGovernor's Office of Business and Economic Development the Infrastructure and Economic Development Bank which shall be responsible for administering this division. (b) The bank shall be under the direction of an executive director appointed by the Governor, and who shall serve at the pleasure of the Governor. The appointment shall be subject to confirmation by the Senate. All matter omitted in this version of the bill appears in the bill as introduced in the Senate, February 24, 2012. (JR11)