CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 1685Introduced by Assembly Member ChenFebruary 22, 2019 An act relating to state government. LEGISLATIVE COUNSEL'S DIGESTAB 1685, as introduced, Chen. State debt obligations.The California Constitution prohibits the Legislature from creating any debt or liability that singly or in aggregate exceeds $300,000 except by an act that is approved by the voters and among other things, provides ways and means for the payment and discharge of the debt or liability within 50 years. Existing law, the State General Obligation Bond Law, which is incorporated by reference in general obligation bond acts, provides for the redemption and payment of bonds by the Treasurer in accordance with specified procedures.This bill would state the intent of the Legislature to continue paying down the states debt obligations.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to continue paying down the states debt obligations.
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 1685Introduced by Assembly Member ChenFebruary 22, 2019 An act relating to state government. LEGISLATIVE COUNSEL'S DIGESTAB 1685, as introduced, Chen. State debt obligations.The California Constitution prohibits the Legislature from creating any debt or liability that singly or in aggregate exceeds $300,000 except by an act that is approved by the voters and among other things, provides ways and means for the payment and discharge of the debt or liability within 50 years. Existing law, the State General Obligation Bond Law, which is incorporated by reference in general obligation bond acts, provides for the redemption and payment of bonds by the Treasurer in accordance with specified procedures.This bill would state the intent of the Legislature to continue paying down the states debt obligations.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Assembly Bill No. 1685
Introduced by Assembly Member ChenFebruary 22, 2019
Introduced by Assembly Member Chen
February 22, 2019
An act relating to state government.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 1685, as introduced, Chen. State debt obligations.
The California Constitution prohibits the Legislature from creating any debt or liability that singly or in aggregate exceeds $300,000 except by an act that is approved by the voters and among other things, provides ways and means for the payment and discharge of the debt or liability within 50 years. Existing law, the State General Obligation Bond Law, which is incorporated by reference in general obligation bond acts, provides for the redemption and payment of bonds by the Treasurer in accordance with specified procedures.This bill would state the intent of the Legislature to continue paying down the states debt obligations.
The California Constitution prohibits the Legislature from creating any debt or liability that singly or in aggregate exceeds $300,000 except by an act that is approved by the voters and among other things, provides ways and means for the payment and discharge of the debt or liability within 50 years. Existing law, the State General Obligation Bond Law, which is incorporated by reference in general obligation bond acts, provides for the redemption and payment of bonds by the Treasurer in accordance with specified procedures.
This bill would state the intent of the Legislature to continue paying down the states debt obligations.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to continue paying down the states debt obligations.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. It is the intent of the Legislature to continue paying down the states debt obligations.
SECTION 1. It is the intent of the Legislature to continue paying down the states debt obligations.
SECTION 1. It is the intent of the Legislature to continue paying down the states debt obligations.
### SECTION 1.