California 2023-2024 Regular Session

California Assembly Bill AB1853 Compare Versions

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Version 2 (New)

Old	New		Differences
1		-	Assembly Bill No. ~~1853 CHAPTER 216An~~ act to amend Sections 50087, 50205, 50206, 50207, and 50208 of the Public Utilities Code, relating to transportation. ~~[ Approved by Governor September 12, 2024. Filed with Secretary of State September 12, 2024. ]~~ LEGISLATIVE COUNSEL'S DIGESTAB 1853, Villapudua. San Joaquin Regional Transit District: meetings: surplus money investments.The San Joaquin Regional Transit District Act authorizes the creation of the San Joaquin Regional Transit District, and if created, specifies the districts powers and responsibilities. The act requires the district to be governed by a board of directors, requires the board to adopt rules for its proceedings, and authorizes the board to provide, by ordinance or resolution, that each board member receive $50 for each board meeting attended, not to exceed $100 in a calendar month.This bill instead would authorize the board to provide, by ordinance or resolution, that each board member receive $100 for each board meeting and committee meeting attended, not to exceed $500 in a calendar month.The act authorizes the district to invest surplus money in its treasury, including money in a sinking fund, in certain investments, including its own bonds and treasury notes or bonds of the state.This bill would authorize the district to also invest surplus money, including money in a sinking fund, in the San Joaquin County Treasury Investment Pool and in any investment or deposit that a local agency may place funds pursuant to state law. The bill would also make conforming changes.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. Section 50087 of the Public Utilities Code is amended to read:50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.SEC. 2. Section 50205 of the Public Utilities Code is amended to read:50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:(1) Its own bonds, notes, or obligations.(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.(3) The San Joaquin County Treasury Investment Pool.(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.SEC. 3. Section 50206 of the Public Utilities Code is amended to read:50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.SEC. 4. Section 50207 of the Public Utilities Code is amended to read:50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.SEC. 5. Section 50208 of the Public Utilities Code is amended to read:50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.
	1	+	Enrolled August 26, 2024 Passed IN Senate August 20, 2024 Passed IN Assembly August 22, 2024 Amended IN Senate June 03, 2024 Amended IN Assembly March 11, 2024 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1853Introduced by Assembly Member Villapudua(Coauthor: Assembly Member Flora)January 17, 2024An act to amend Sections 50087, 50205, 50206, 50207, and 50208 of the Public Utilities Code, relating to transportation. LEGISLATIVE COUNSEL'S DIGESTAB 1853, Villapudua. San Joaquin Regional Transit District: meetings: surplus money investments.The San Joaquin Regional Transit District Act authorizes the creation of the San Joaquin Regional Transit District, and if created, specifies the districts powers and responsibilities. The act requires the district to be governed by a board of directors, requires the board to adopt rules for its proceedings, and authorizes the board to provide, by ordinance or resolution, that each board member receive $50 for each board meeting attended, not to exceed $100 in a calendar month.This bill instead would authorize the board to provide, by ordinance or resolution, that each board member receive $100 for each board meeting and committee meeting attended, not to exceed $500 in a calendar month.The act authorizes the district to invest surplus money in its treasury, including money in a sinking fund, in certain investments, including its own bonds and treasury notes or bonds of the state.This bill would authorize the district to also invest surplus money, including money in a sinking fund, in the San Joaquin County Treasury Investment Pool and in any investment or deposit that a local agency may place funds pursuant to state law. The bill would also make conforming changes.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. Section 50087 of the Public Utilities Code is amended to read:50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.SEC. 2. Section 50205 of the Public Utilities Code is amended to read:50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:(1) Its own bonds, notes, or obligations.(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.(3) The San Joaquin County Treasury Investment Pool.(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.SEC. 3. Section 50206 of the Public Utilities Code is amended to read:50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.SEC. 4. Section 50207 of the Public Utilities Code is amended to read:50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.SEC. 5. Section 50208 of the Public Utilities Code is amended to read:50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.
2	2
3		-	Assembly Bill No. ~~1853 CHAPTER 216An~~ act to amend Sections 50087, 50205, 50206, 50207, and 50208 of the Public Utilities Code, relating to transportation. ~~[ Approved by Governor September 12, 2024. Filed with Secretary of State September 12, 2024. ]~~ LEGISLATIVE COUNSEL'S DIGESTAB 1853, Villapudua. San Joaquin Regional Transit District: meetings: surplus money investments.The San Joaquin Regional Transit District Act authorizes the creation of the San Joaquin Regional Transit District, and if created, specifies the districts powers and responsibilities. The act requires the district to be governed by a board of directors, requires the board to adopt rules for its proceedings, and authorizes the board to provide, by ordinance or resolution, that each board member receive $50 for each board meeting attended, not to exceed $100 in a calendar month.This bill instead would authorize the board to provide, by ordinance or resolution, that each board member receive $100 for each board meeting and committee meeting attended, not to exceed $500 in a calendar month.The act authorizes the district to invest surplus money in its treasury, including money in a sinking fund, in certain investments, including its own bonds and treasury notes or bonds of the state.This bill would authorize the district to also invest surplus money, including money in a sinking fund, in the San Joaquin County Treasury Investment Pool and in any investment or deposit that a local agency may place funds pursuant to state law. The bill would also make conforming changes.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
	3	+	Enrolled August 26, 2024 Passed IN Senate August 20, 2024 Passed IN Assembly August 22, 2024 Amended IN Senate June 03, 2024 Amended IN Assembly March 11, 2024 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1853Introduced by Assembly Member Villapudua(Coauthor: Assembly Member Flora)January 17, 2024An act to amend Sections 50087, 50205, 50206, 50207, and 50208 of the Public Utilities Code, relating to transportation. LEGISLATIVE COUNSEL'S DIGESTAB 1853, Villapudua. San Joaquin Regional Transit District: meetings: surplus money investments.The San Joaquin Regional Transit District Act authorizes the creation of the San Joaquin Regional Transit District, and if created, specifies the districts powers and responsibilities. The act requires the district to be governed by a board of directors, requires the board to adopt rules for its proceedings, and authorizes the board to provide, by ordinance or resolution, that each board member receive $50 for each board meeting attended, not to exceed $100 in a calendar month.This bill instead would authorize the board to provide, by ordinance or resolution, that each board member receive $100 for each board meeting and committee meeting attended, not to exceed $500 in a calendar month.The act authorizes the district to invest surplus money in its treasury, including money in a sinking fund, in certain investments, including its own bonds and treasury notes or bonds of the state.This bill would authorize the district to also invest surplus money, including money in a sinking fund, in the San Joaquin County Treasury Investment Pool and in any investment or deposit that a local agency may place funds pursuant to state law. The bill would also make conforming changes.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
4	4
5		-	Assembly ~~Bill No.~~ ~~1853 CHAPTER 216~~
	5	+	Enrolled August 26, 2024 Passed IN Senate August 20, 2024 Passed IN Assembly August 22, 2024 Amended IN Senate June 03, 2024 Amended IN Assembly March 11, 2024
6	6
7		-	Assembly Bill No. 1853
	7	+	Enrolled August 26, 2024
	8	+	Passed IN Senate August 20, 2024
	9	+	Passed IN Assembly August 22, 2024
	10	+	Amended IN Senate June 03, 2024
	11	+	Amended IN Assembly March 11, 2024
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9		-	CHAPTER 216
	13	+	CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
	14	+
	15	+	Assembly Bill
	16	+
	17	+	No. 1853
	18	+
	19	+	Introduced by Assembly Member Villapudua(Coauthor: Assembly Member Flora)January 17, 2024
	20	+
	21	+	Introduced by Assembly Member Villapudua(Coauthor: Assembly Member Flora)
	22	+	January 17, 2024
10	23
11	24		An act to amend Sections 50087, 50205, 50206, 50207, and 50208 of the Public Utilities Code, relating to transportation.
12		-
13		-	[ Approved by Governor September 12, 2024. Filed with Secretary of State September 12, 2024. ]
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15	26		LEGISLATIVE COUNSEL'S DIGEST
16	27
17	28		## LEGISLATIVE COUNSEL'S DIGEST
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19	30		AB 1853, Villapudua. San Joaquin Regional Transit District: meetings: surplus money investments.
20	31
21	32		The San Joaquin Regional Transit District Act authorizes the creation of the San Joaquin Regional Transit District, and if created, specifies the districts powers and responsibilities. The act requires the district to be governed by a board of directors, requires the board to adopt rules for its proceedings, and authorizes the board to provide, by ordinance or resolution, that each board member receive $50 for each board meeting attended, not to exceed $100 in a calendar month.This bill instead would authorize the board to provide, by ordinance or resolution, that each board member receive $100 for each board meeting and committee meeting attended, not to exceed $500 in a calendar month.The act authorizes the district to invest surplus money in its treasury, including money in a sinking fund, in certain investments, including its own bonds and treasury notes or bonds of the state.This bill would authorize the district to also invest surplus money, including money in a sinking fund, in the San Joaquin County Treasury Investment Pool and in any investment or deposit that a local agency may place funds pursuant to state law. The bill would also make conforming changes.
22	33
23	34		The San Joaquin Regional Transit District Act authorizes the creation of the San Joaquin Regional Transit District, and if created, specifies the districts powers and responsibilities. The act requires the district to be governed by a board of directors, requires the board to adopt rules for its proceedings, and authorizes the board to provide, by ordinance or resolution, that each board member receive $50 for each board meeting attended, not to exceed $100 in a calendar month.
24	35
25	36		This bill instead would authorize the board to provide, by ordinance or resolution, that each board member receive $100 for each board meeting and committee meeting attended, not to exceed $500 in a calendar month.
26	37
27	38		The act authorizes the district to invest surplus money in its treasury, including money in a sinking fund, in certain investments, including its own bonds and treasury notes or bonds of the state.
28	39
29	40		This bill would authorize the district to also invest surplus money, including money in a sinking fund, in the San Joaquin County Treasury Investment Pool and in any investment or deposit that a local agency may place funds pursuant to state law. The bill would also make conforming changes.
30	41
31	42		## Digest Key
32	43
33	44		## Bill Text
34	45
35	46		The people of the State of California do enact as follows:SECTION 1. Section 50087 of the Public Utilities Code is amended to read:50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.SEC. 2. Section 50205 of the Public Utilities Code is amended to read:50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:(1) Its own bonds, notes, or obligations.(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.(3) The San Joaquin County Treasury Investment Pool.(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.SEC. 3. Section 50206 of the Public Utilities Code is amended to read:50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.SEC. 4. Section 50207 of the Public Utilities Code is amended to read:50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.SEC. 5. Section 50208 of the Public Utilities Code is amended to read:50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.
36	47
37	48		The people of the State of California do enact as follows:
38	49
39	50		## The people of the State of California do enact as follows:
40	51
41	52		SECTION 1. Section 50087 of the Public Utilities Code is amended to read:50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.
42	53
43	54		SECTION 1. Section 50087 of the Public Utilities Code is amended to read:
44	55
45	56		### SECTION 1.
46	57
47	58		50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.
48	59
49	60		50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.
50	61
51	62		50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.
52	63
53	64
54	65
55	66		50087. The board shall adopt rules for its proceedings and may provide, by ordinance or resolution, that each member shall receive for each attendance at the meetings of the board and committees the sum of one hundred dollars ($100), but not to exceed five hundred dollars ($500) in a calendar month, and shall be allowed such necessary traveling and personal expenses incurred in the performance of duties authorized by the board.
56	67
57	68		SEC. 2. Section 50205 of the Public Utilities Code is amended to read:50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:(1) Its own bonds, notes, or obligations.(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.(3) The San Joaquin County Treasury Investment Pool.(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.
58	69
59	70		SEC. 2. Section 50205 of the Public Utilities Code is amended to read:
60	71
61	72		### SEC. 2.
62	73
63	74		50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:(1) Its own bonds, notes, or obligations.(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.(3) The San Joaquin County Treasury Investment Pool.(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.
64	75
65	76		50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:(1) Its own bonds, notes, or obligations.(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.(3) The San Joaquin County Treasury Investment Pool.(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.
66	77
67	78		50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:(1) Its own bonds, notes, or obligations.(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.(3) The San Joaquin County Treasury Investment Pool.(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.
68	79
69	80
70	81
71	82		50205. (a) The district may invest surplus money in its treasury, including money in a sinking fund, in any of the following investments:
72	83
73	84		(1) Its own bonds, notes, or obligations.
74	85
75	86		(2) In any investment or deposit that a local agency may place funds pursuant to the laws of the state.
76	87
77	88		(3) The San Joaquin County Treasury Investment Pool.
78	89
79	90		(b) If the district invests surplus money pursuant to paragraph (2) of subdivision (a), those investments shall be in accordance with Article 1 (commencing with Section 53600) and Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code.
80	91
81	92		SEC. 3. Section 50206 of the Public Utilities Code is amended to read:50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.
82	93
83	94		SEC. 3. Section 50206 of the Public Utilities Code is amended to read:
84	95
85	96		### SEC. 3.
86	97
87	98		50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.
88	99
89	100		50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.
90	101
91	102		50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.
92	103
93	104
94	105
95	106		50206. The investment of surplus money may be made by direct purchase of investments at the original sale or by the subsequent investments in the secondary market.
96	107
97	108		SEC. 4. Section 50207 of the Public Utilities Code is amended to read:50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.
98	109
99	110		SEC. 4. Section 50207 of the Public Utilities Code is amended to read:
100	111
101	112		### SEC. 4.
102	113
103	114		50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.
104	115
105	116		50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.
106	117
107	118		50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.
108	119
109	120
110	121
111	122		50207. Any investments purchased and held by the district may from time to time be sold and the proceeds reinvested in investments as provided in this article.
112	123
113	124		SEC. 5. Section 50208 of the Public Utilities Code is amended to read:50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.
114	125
115	126		SEC. 5. Section 50208 of the Public Utilities Code is amended to read:
116	127
117	128		### SEC. 5.
118	129
119	130		50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.
120	131
121	132		50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.
122	133
123	134		50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.
124	135
125	136
126	137
127	138		50208. Sales of any investments purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the investments were originally purchased was placed in the treasury of the district.