California Senate Bill SB225 Amended / Bill

 BILL NUMBER: SB 225AMENDED BILL TEXT AMENDED IN ASSEMBLY JULY 13, 2011 AMENDED IN ASSEMBLY JUNE 29, 2011 INTRODUCED BY Senator Simitian (Principal coauthor: Assembly Member Achadjian) FEBRUARY 9, 2011 An act  to amend Section 44559.11 of, and  to add Section  44559.10 to   44559.12 to,  the Health and Safety Code, relating to the California Pollution Control Financing Authority. LEGISLATIVE COUNSEL'S DIGEST SB 225, as amended, Simitian. California Pollution Control Financing Authority: Capital Access Loan Program. The California Pollution Control Financing Authority Act establishes the Capital Access Loan Program for small businesses, administered by the California Pollution Control Financing Authority, which provides loans through participating financial institutions to qualifying small businesses. The authority is required to create a loss reserve account for each financial institution.  The act authorizes the authority to enact regulations for the distribution of specified funds paid to the authority.  This bill would authorize the authority to establish loss reserve accounts for the purposes of  financing  terminal rental adjustment clause  , as defined,  leasing, if funds are available for contribution into the loss reserve account from any source other than the authority.  The bill would prohibit, for purposes of the loss reserve accounts for terminal rental adjustment clause leasing, the use of fund   s provided by the federal government for the purposes of providing a loan loss reserve program.  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 44559.11 of the   Health and Safety Code   is amended to read:  44559.11.  (a)    It is the intent of the Legislature to ensure that the state, through the authority, may make maximum, efficient use of capital access programs enacted by all federal and state agencies, as well as funding available from any governmental program whose goals may be advanced by providing funding to the Capital Access Loan Program.  In   (b)     In  furtherance of this intent, and  not withstanding   notwithstanding  any other provision of this article, when the contributions required pursuant to  subdivision (c) of  Section 44559.4 are entirely funded by a source other than the authority, the authority may, by regulation adopted pursuant to subdivision (b) of Section 44520, establish alternate provisions as necessary to enable the authority to participate in the alternative funding source program.  SECTION 1.   Section 44559.10 is added to the Health and Safety Code, to read: 44559.10. (a) Notwithstanding any other provision of this article   SEC. 2.   Section 44559.12 is added to the   Health and Safety Code   , to read:   44559.12.   (a)     Consistent with subdivision (b) of Section 44559.11  , the authority may establish loss reserve accounts for the purposes of  financing  terminal rental adjustment clause leasing, if funds are available for contribution into the loss reserve account from any source other than the authority. The authority shall not contribute any funds into a loss reserve account created pursuant to this section.  Funds   provided by the federal government for the purposes of providing a loan loss reserve program shall not be contributed to an account created pursuant to this section.  (b) The executive director may establish conditions for terminal rental adjustment clause leasing loss reserve accounts created pursuant to this section. (c) As used in this section, "terminal rental adjustment clause" means "terminal rental adjustment clause" as defined in Section 7701 (h)(3) of Title 26 of the United States Code.