AB 2819 (Cooley) — Assembly Committee on Jobs, Economic Development, and the Economy (April 26, 2022)
Summary
This is the Assembly Committee on Jobs, Economic Development, and the Economy analysis of AB 2819 (Cooley), as amended April 19, 2022, for a hearing on April 26, 2022, with Sabrina Cervantes as Chair. The subject is the Rural California Infrastructure Act. The summary says AB 2819 establishes the act for the purpose of awarding $1 billion in grants to local agencies for rural infrastructure projects, including fairground maintenance, disaster preparedness, highway or street maintenance or repair, and historic or cultural preservation or repair. It states that a local agency means a special district, independent fire district, or county with a population of less than 300,000. It lists no opposition on file.
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“AB 2819 (Cooley) — Assembly Committee on Jobs, Economic Development, and the Economy (April 26, 2022).”
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AB 2819
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Date of Hearing: April 26, 2022
ASSEMBLY COMMITTEE ON JOBS, ECONOMIC DEVELOPMENT, AND THE ECONOMY
Sabrina Cervantes, Chair
AB 2819 (Cooley) – As Amended April 19, 2022
SUBJECT: The Rural California Infrastructure Act
POLICY FRAME: According to the California Department of Forestry and Fire Protections, the 2020
Fire Season was among the most severe in the nation’s history. The 2020 Fire Siege claimed the lives of
28 civilians and three firefighters, destroyed 9,248 structures and consumed 4.2 million acres.
Watersheds were eradicated, communities decimated, and the quality of life for 40 million Californians
temporarily diminished.
In 2021, the state continued to experience unprecedented wildfire activity with increases in both the
number and severity of wildfires. Over 8,000 wildfires burned over 2.5 million acres across the state. It
was also the first time wildfires burned from the foothills of the Central Valley, over the granite crest of
the Sierra Nevada mountain range, and into the Great Basin. Records show that the state experienced four
of the 20 largest wildfires in its history in 2021.
In addition to the devastating impact of these wildfires, community resources were also being strained by
the ongoing public health and economic fallout from the COVID-19 pandemic. AB 2819 establishes the
Rural California Infrastructure Act, which appropriates $1 billion in funds for grants to special districts,
independent fire districts, and local governments in counties with populations less than 300,000. These
funds will be used for rural infrastructure projects, including fairground maintenance, disaster
preparedness, highway or street repairs, and the rehabilitation of historical and cultural sites that serve as
the foundation for local economic development activities.
AB 2819 was initially heard in the Assembly Committee on Emergency Management, where policies
related to emergency preparedness, response, and recovery were addressed. This bill is substantially
similar to AB 1447 (Cooley and Bigelow), which passed the committee unanimously last year and was
later held in Assembly Committee on Appropriations.
This policy committee analysis focuses on how the financing mechanism works, the potential challenges
rural communities may face in drawing down federal Infrastructure Investment and Jobs Act (IIJA) funds,
and the financing capabilities of the California Infrastructure and Economic Development Bank (IBank)
in meeting those needs. There is no known opposition to the bill.
SUMMARY: AB 2819 establishes the Rural California Infrastructure Act for the purpose of awarding $1
billion in grants to local agencies for rural infrastructure projects, including fairground maintenance,
disaster preparedness, highway or street maintenance or repair, and historic or cultural preservation or
repair. Specifically, this bill:
1) Defines terms used in the Rural California Infrastructure Act, including, but not limited to:
a) “Local agency” means a special district, independent fire district, or county, with a population of
less than 300,000 individuals, according to the 2020 census data.
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b) “Rural infrastructure project” means a project in a local agency’s jurisdiction that is either an
economic development facility or a public development facility and meets any of the following
criteria:
i) The project is a disaster preparedness and mitigation project, including, but not limited to, all
of the following:
(1) Creating, upgrading, or rehabilitating evacuation or shelter areas.
(2) Maintaining fairgrounds.
(3) Upgrading or rehabilitating highways, streets, and roads used for emergency evacuations
or identified in the local, regional, or state disaster response plan as priority ingress and
egress routes for first responders.
(4) A project identified as a disaster preparedness and mitigation project in the directives and
requirements adopted to implement this article.
ii) The project is a disaster recovery project, including, but not limited to, drainage, water supply,
and flood control.
iii) The project is a historic or cultural preservation, rehabilitation, or reconstruction project.
2) Creation of the Program: Authorizes the IBank to establish the Rural California Infrastructure
Program for the purpose of making competitive grant awards to eligible local agencies for rural
infrastructure projects, as specified.
a) Prohibits the IBank from establishing the program until the board has adopted a resolution finding
that sufficient money is available to cover the costs of implementing the program, including, but
not limited to, appropriate oversight costs.
b) Requires, within six months of the adoption of the resolution acknowledging that sufficient
moneys have been transferred, the IBank to begin accepting grant applications from local
agencies.
3) Program Requirements: Requires the IBank to adopt directives and requirements to carry out the
purposes of the program. Among other requirements, the directives and requirements are to include
all the following:
a) Requires the IBank to administer at least one funding round within both the first and second year
of program implementation.
b) Requires the IBank to prioritize applications for projects that meet either of the following criteria:
i) The grant will fund no more than 50 percent of the total project cost.
ii) The project addresses imminent threats related to fire or flooding
c) Specifies that local agencies that receive grants may also leverage other public and private
resources to complete their rural infrastructure projects.
d) Requires grants to be awarded in a manner that ensures geographic equity.
e) Requires that at least 50% of the grant funds be used for rural infrastructure projects that address
disaster preparedness, mitigation, and recovery.
f) Prohibits grant funds to be released to the local agency until the grantee can demonstrate that it has
the capacity and the full funding to complete the project.
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g) Requires local agencies, as a condition of receiving the grant, to require contractors used in the
development of a public works project to meet specified labor and workforce standards. This
includes using a skilled and trained workforce, as specified, or having the work performed under a
project labor agreement that requires a skilled and trained workforce to complete the project.
h) Authorizes the IBank to implement, in whole or in part, the Rural California Infrastructure
Program with the administrative support of any IBank staff, with the administrative costs of those
staff being reimbursed from the account.
i) Authorizes the IBank to administer the program through one or more of the IBank’s other
programs, to the extent the program’s requirements are met. This includes, but is not limited to
the Infrastructure State Revolving Fund (ISRF).
4) Funding: Establishes the Rural California Infrastructure Account within the IBank Fund and
provides that moneys in the account are continuously appropriated without regard to fiscal years, as
specified.
a) Requires the State Controller to transfer $1 billion to the account on January 1, 2023.
b) Authorizes the IBank to create subaccounts in the account for purposes of implementing the
program.
c) Requires each applicant to pay a non-refundable application fee to cover the costs of administering
the program, as specified. All fees are required to be deposited in the account.
d) Requires the application fee to be reduced to the extent that program funds transferred into the
account are made available to cover some or all of the costs of developing the program, reviewing
applications, and monitoring and overseeing the program.
5) Reporting: Requires, on or before January 1, 2024, and annually thereafter, the IBank to submit a
report to the Governor and the Legislature regarding program activity in any fiscal year that the
program account receives funding or in which the IBank administers grants.
a) Among other information the IBank may choose to include, the report is required to include all of
the following items:
i) The total amount of moneys in the account and its subaccounts at the beginning and end of the
most recently completed fiscal year.
ii) The number of projects funded.
iii) The number of jobs created and the number of jobs retained through program assistance in
each fiscal year.
b) Authorizes the IBank to include this information in any of the IBank’s annual reports to the
Governor and the Legislature in lieu of submitting a separate report, as specified.
EXISTING LAW:
1) Establishes the IBank within the Governor's Office of Business and Economic Development (GO-Biz)
and authorizes it to undertake a variety of infrastructure-related financial activities including, but not
limited to, the administration of the Infrastructure State Revolving Loan Fund (ISRF), oversight of the
Small Business Finance Center, and the issuance of tax-exempt and taxable revenue bonds.
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2) Authorizes the IBank to provide financing for economic development facilities by:
a) Issuing taxable revenue bonds, as specified, to provide financing for economic development
projects. Financed projects are required to be compatible with the public interest, which is defined
as having the project be located in California, those seeking funds are capable of meeting
obligations incurred under the agreement, and in the case of loans or bonds, the amount of the
payments are adequate to pay the related expenses of the IBank.
b) Issuing taxable revenue bonds, as specified, to provide financing for the revolving loan funds and
economic development projects of small business development corporations, local economic
development corporations, community development corporations, and nonprofit organizations in
which revolving loan funds and economic development projects shall be compatible with the
public interest.
c) Issuing tax-exempt revenue bonds, as specified, to provide financing for economic development
facilities as permissible under federal law and in accordance with applicable California law
relating to the distribution of state allocations for private activity bonds. Financed projects are
required to be compatible with the public interest, which is defined as having the project be
located in California, those seeking funds being capable of meeting obligations incurred under the
agreement, and in the case of loans or bonds, the amount of the payments are adequate to pay the
related expenses of the IBank.
d) Issuing tax-exempt revenue bonds, as specified, for economic development facilities of public
sector and nonprofit organizations qualifying for exemption under federal law.
3) Defines an “economic development facility” to mean real and personal property, structures, buildings,
equipment, and supporting components thereof that are used to provide industrial, recreational,
research, commercial, utility, goods movement, or service enterprise facilities, community,
educational, cultural, or social welfare facilities and any parts or combinations thereof, and all
facilities or infrastructure necessary or desirable in connection therewith including provision for
working capital, as specified.
4) Defines a “project” to mean designing, acquiring, planning, permitting, entitling, constructing,
improving, extending, restoring, financing, and generally developing public development facilities or
economic development facilities within the state. These projects may be funded through the ISRF.
Projects for the purpose of financing transition costs or the acquisition of transition property, or both,
may be funded through a financing order by the Public Utilities Commission, as specified.
5) Defines a “public development facility” for the purpose of IBank financing, including the ISRF, to
mean real and personal property, structures, conveyances, equipment, thoroughfares, buildings, and
supporting components thereof, excluding any housing, that are directly related to providing the
following:
a) City streets, county highways, and state highways, as specified;
b) Drainage, water supply, and flood control, as specified;
c) Sewage collection and treatment, as specified;
d) Solid waste collection and disposal including, but not limited to, vehicles, transfer stations,
recycling centers, sanitary landfills, and waste conversion facilities;
e) Water treatment and distribution; as specified;
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f) Educational facilities including libraries, child care facilities, and employment training facilities;
g) Environmental mitigation measures, as specified;
h) Public safety facilities including, but not limited to, police stations, fire stations, court buildings,
jails, juvenile halls, and juvenile detention facilities;
i) Parks and recreational facilities, as specified;
j) Port facilities including, but not limited to, airports, land ports, water ports, rail ports, docks,
harbors, ports of entry, piers, ships, and marinas, as specified;
k) Power and communications including facilities for the transmission or distribution of electrical
energy, natural gas, and telephone and telecommunications service.
l) Public transit, including, but not limited to, air and rail transport, airports, passenger stations,
maintenance and storage yards, and related structures, as specified;
m) Defense conversion including, but not limited to, facilities necessary for successfully converting
military bases consistent with an adopted base reuse plan;
n) Military infrastructure, including, but not limited to, facilities on or near a military installation,
that enhance the military operations and mission of one or more military installations in this state;
and
o) Goods movement-related infrastructure including, but not limited to, port facilities, roads, rail, and
other facilities and projects that move goods, energy, and information.
p) Housing-related infrastructure including city streets; drainage, water supply, and flood control;
environmental mitigation measures; power and communications; public transit improvement that
directly supports transit-oriented housing; sewage collection and treatment; and water treatment
and distribution.
FISCAL EFFECT: Unknown
COMMENTS & CONTEXT:
1) California and the Federal Infrastructure Package: The federal Infrastructure Investment and Jobs
Act (IIJA) includes $1.2 trillion in new infrastructure funds. This represents a $550 billion increase in
federal government spending above baseline funding levels. Among other funding, the IIJJA
includes:
$621 billion on roads, bridges, public transit, rail, ports, waterways, airports, and electric vehicles
to improve air quality, reduce congestion, and limit greenhouse gas emissions;
$400 billion to bolster caregiving for aging and disabled Americans;
$300 billion toward boosting manufacturing, specifically semiconductor, medical, and clean
manufacturing;
$111 billion to rebuild water infrastructure and replace all of the nation's lead pipes and service
lines; and
$100 billion in order to give every American access to affordable, reliable, and high-speed
broadband.
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To assist state and local governments, Tribal Governments, and other partners, access the new funds,
the federal government has created a Building a Better American guidebook with details on each of
program funded through the IIJA.
One estimate is that this new federal funding represents $14 billion in additional formula funding to
California over the five-year funding period, as compared to existing formula funding levels. The
Governor’s proposed budget for 2022-23 anticipates $20 billion in federal funding, which he proposes
to use to accelerate the transition to zero-emission vehicles, modernize the state’s transportation
system, spur clean energy innovation, advance the state’s housing goals, reduce wildfire risk to
communities, and support drought resilience and response.
In presenting the 2022-23 budget, the Governor asked for “administrative flexibility so matching fund
requirements for unanticipated formula or competitive programs can be provided in a timely manner
to bolster the state’s competitiveness when applying for these programs.” Similarly, local agencies
may also need programmatic and funding flexibility in order to maximize the drawdown of federal
funding.
The LAO has completed an analysis of the Governor’s budget proposals on supply chain mitigation
and the $4.1 billion Transportation Infrastructure Package, which provide additional details on his
strategy for integrating state and federal funds to meet California’s most important infrastructure
needs. The 2022-23 proposals include: $3.4 billion that was agreed to in concept in the 2021‑22
budget package, but later reverted to the General Fund when subsequent legislation was not enacted;
and $1.5 billion that would be allocated between programs from last year’s package and a new set of
proposed programs.
Given the expertise and flexibility of the IBank’s financing authority, as well as their track record in
helping local governments finance public and economic development facilities through the ISRF, the
IBank is well placed to help federal IJJA funds reach rural areas. The supplemental funding proposed
through AB 2819 could play a key role in completing rural infrastructure projects, and more fully
leveraging other state and federal infrastructure funding.
2) Background on the IBank: The IBank was established in 1994 to finance public infrastructure and
private development that promotes a healthy climate for jobs, contributes to a strong economy, and
improves the quality of life in California communities. Housed within GO-Biz, it is governed by a
five-member board of directors comprised of the Director of GO-Biz (chair), the State Treasurer, the
Director of the Department of Finance, the Secretary of the Transportation Agency, and an appointee
of the Governor. The day-to-day operations of the IBank are directed by the Executive Director, who
is an appointee of the Governor and is subject to confirmation by the California State Senate.
The IBank is essentially self-funded, receiving minimal General Fund support. The IBank uses the
fees, interest income, and other revenues that derive from its public and private sector financing
activities as the foundation of its operations budget. State contracts to small business financial
development corporations are supported through an annual General Fund appropriation of $1 to $2
million.
The IBank administers five core programs:
The Infrastructure State Revolving Fund (ISRF), which provides direct low-cost financing for
public infrastructure projects and economic development facilities.
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The Bond Financing Program, which provides tax-exempt and taxable bond financing for
manufacturing companies, public benefit nonprofit organizations, public agencies and other
eligible entities.
The California Small Business Finance Center assists small businesses in accessing private
financing through loan guarantees, direct loans, and performance bond guarantees.
The California Lending for Energy and Environmental Needs Center or CLEEN Center, which
provides financing for environment-related projects to municipal governments, public universities,
schools, and hospitals (MUSH).
The Climate Catalyst Revolving Loan Fund, which is available to receive funds from non-state
governmental entities and private sources for the purpose of financing climate catalyst projects
that further the state’s climate goals. Operationally, the Strategic Growth Council sets the non-
financial program requirements and the IBank serves as the bank. Categories of projects are set by
the Legislature in consultation with the Strategic Growth Council.
Since its inception, the IBank has loaned, financed, or participated in over $43 billion in infrastructure
and economic expansion projects. This includes over $814 million to direct lending to local and state
agencies, developing a high-level of expertise in the financing of public infrastructure.
The IBank also serves as the state's only general-purpose financing authority with broad statutory
powers to issue revenue bonds, make loans, and provide guarantees. There is no pledge of IBank or
state general funds for any of the conduit revenue bonds. Over $8 billion in conduit revenue bonds
have been issued by the IBank since 2015 including $2 billion in green and clean water projects.
The IBank estimated that, since its inception, it has supported the creation and retention of over
462,000 jobs. This includes over 23,000 from the ISRF program, 41,000 from bond financing
activities, and 398,000 through the Small Business Finance Center.
3) Highlights from 2019-20 IBank Annual Report: In November 2020, the IBank issued its annual
report for the 2019-20 fiscal year. Among other activities, the IBank issued more than $880 million
through 10 bonds, including two green bonds. Even working remotely due to COVID-19, the IBank
was able to continue issuing bonds. The chart below summarizes key aspects of the IBank’s activities
in 2019-20.
2019-20 IBank Activities
Financing Financing Amount Amount
IBank Program Jobs(*) Leverage
Approved Closed Approved Closed
ISRF Loans 2 1 0 $24,300,000 $143,300,000 $0
CLEEN Loans 0 0 0 $0 $0 $0
Subtotals 2 1 0 $24,300,000 $14,300,000 0
Industrial Development Bonds 0 0 0 $0 $0 $0
501(c) (3) Bonds 10 9 845 $1,251,370,000 $607,967,259 $8,772,667
Public Agency Revenue Bonds 1 1 2,303 $350,000,000 $272,605,000 $0
Exempt Facility Bonds 1 0 0 $3,250,000,000 $0 $0
ISRF Program Bonds 0 0 0 $0 $0 $0
Subtotals 12 10 3148 $4,851,370,000 $880,572,259 $8,772,667
Fiscal Year Totals 14 11 3148 $4,875,670,000 $894,872,259 $8,772,667
*Jobs include the total number full and part-time jobs, including constriction, as reported by borrowers.
Source: IBank 2019-20 Annual Report
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4) The Expanding Role of the IBank: Given the flexibility of its financing capabilities, the IBank is
playing an increasing role in the state’s COVID-19 small business recovery efforts, and financer of an
expanding range of clean and green infrastructure and economic development projects. In 2020 and
2021, the Legislature approved several budget-related actions that further expand the IBank’s scope
and capacity which include:
Climate Catalyst Revolving Loan Fund: Established a Climate Catalyst Revolving Loan Fund at
the IBank to receive funds from non-state governmental entities and private sources for the
purpose of making loans for climate catalyst projects that further the state’s climate goals. The
revolving loan fund is specifically focused on increasing the speed and scale at which
technologically proven, critical climate solutions are deployed and is authorized to provide
flexible, low-cost credit and credit support to stimulate commercial investment in infrastructure
projects. The 2021-22 budget included $50 million to the Climate Catalyst Fund for forest
biomass utilization.
Expanded and Flexible Debt Authority: Limits the total amount of rate reduction bonds and
bonds issued to finance public development facilities that may be outstanding at any one time to
$15 billion. Currently, the limit for rate reductions bonds is $10 billion, and the limit for bonds to
finance public development is $5 billion. This change does not increase the total authority, rather
it combines the limits allowing for more flexibility between the categories.
Wildfire Resilience Funding for the Climate Catalyst Fund: Authorized $16 million as a part of
a comprehensive Wildfire and Forest Resilience Package to increase the pace and scale of forest
health activities and reduce wildfire risk. In total, the package includes $1.5 billion in wildfire
prevention and forest resilience investment over three years.
These authorities are in addition to the funding for the California Rebuilding Fund, recapitalization for
the Small Business Loan Guarantee Program, and activation of the disaster loan guarantee program.
For FY 2022-23, the Governor is proposing additional IBank activities, including the utilization of the
Climate Catalyst Loan Fund to support sustainable agriculture. More specifically, the Governor is
proposing $25 million one-time General Fund to support a Climate Smart Agriculture loans. Climate
Smart Agriculture loans to advance projects that may include but are not limited to: methane
reduction, equipment replacement, water efficiency, healthy soils, circular economies, on-farm
bioenergy, energy efficiency for food processing, and renewable energy systems and energy storage
for agricultural operations. This is part of a $1.1 billion package of investments in the agriculture
sector.
5) The Infrastructure State Revolving Fund: The ISRF provides financing to public entities,
nonprofit organizations, and private entities to assist in the development of a wide variety of
infrastructure and economic development projects. The ISRF Program funding is available in amounts
ranging from $50,000 to $25,000,000, with loan terms of up to 30 years.
Examples of eligible projects include, but are not limited to, drainage, water supply and flood control;
libraries and other educational facilities; environmental mitigation measures; sewage collection and
treatment; educational, cultural and social facilities; industrial, utility and commercial facilities;
military infrastructure and defense conversion; solid waste collection and disposal; water treatment
and distribution; and public safety facilities.
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The ISRF has provided more than $720 billion in loans to state and local governmental entities to
support the development of economic and public development facilities since 1999. Every year, the
ISRF participates in a series of Funding Fairs with other state and federal infrastructure development
programs, as well as offering technical support throughout the application and approval process.
In 2019-20, The ISRF approved two projects for $24.3 million in loans for infrastructure and
economic expansion projects. New federal IIJA funding will increase ISRF activities. Here are
examples of projects from a busier year. In 2016-17, the ISRF financed $86.6 million in projects,
which were estimated to result in 1,600 new jobs- with 1,500 gained in the construction phase, and the
ISRF leveraged an additional $35.4 million in other funds. Among other projects financed during
2016-17, the IBank assisted the City of Half Moon Bay with a $5.6 million loan with a 3.44% interest
rate to construct a new pump station, install a new pipeline, and replace or renovate existing pipelines.
The City of Santa Cruz received a $25 million loan with a 3.24% interest rate to support the
replacement and upgrade of its water treatment facilities, which leveraged $6.9 million of other
dollars.
The ISRF Program operates as a “leveraged loan program,” which means its funding is derived
through the issuance of revenue bonds secured by the repayments received from approved ISRF
Program Financings. The IBank has issued several series of tax-exempt revenue bonds to provide
additional ISRF Program financing. Since inception, the IBank has issued six rounds of tax-exempt
revenue bonds (2004, 2005, 2008, 2014, 2015, 2016) totaling $480,175,000. The ISRF bonds are
repaid solely from repayments received from ISRF borrowers and are neither backed nor guaranteed
by the state or other IBank funds.
6) Help with Putting Funding Packages Together: The California Finance Coordinating Committee
(CFCC) is a group of six state and federal agencies which administer one or more infrastructure grant,
loan, and bond financing programs. Formed in 1998, the CFCC members work collaboratively to
facilitate and expedite the development of infrastructure projects by helping interested parties,
including local entities, identify and combine the resources of various state and federal financing
sources with other financing options.
Members of the CFCC include the I-Bank, the California Department of Housing and Community
Development, California Department of Water Resources, the State Water Resources Control Board,
the US Department of the Interior’s Bureau of Reclamation, and the US Department of Agriculture
Rural Development.
Among other activities, the CFCC annually hosts free funding fairs throughout the state. The CFCC
Funding Fairs provide local governments and other eligible applicants an opportunity to hear directly
from potential funders about currently available infrastructure grant, loans, and bond financing
programs.
The Funding Fairs also provide an opportunity for attendees to speak directly with program staff about
specific projects and issues affecting their communities. During the COVID-19 pandemic, the
Funding Fairs easily shifted to 100% virtual, as the CFCC had been offering online hybrid events for
more than a decade. The CFCC website includes a copy of the Funding Fair slide deck, 2021 Funding
Fair Guidebook that lists potential funding programs, and a link to a YouTube video of a prior
Funding Fair to assist communities and other potential applicants to access the information 24-7.
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The 2021 Funding Fair Guidebook also provides an expanded list of state and federal agency partners
beyond the initial six conveners listed above. The additional 2021 funding partners:
Hazard Mitigation Assistance Branch of the California Governor’s Office of Emergency Services
California Department of Forestry and Fire Prevention
California Department of Resources, Recycling, and Recovery
California Strategic Growth Council
California Department of Water Resources
US Economic Development Administration
The work of the CFCC is very important, as most infrastructure projects require two or more funding
sources, as well as increases in local user fees or other private sources of capital. Many communities
find combining these financial resources challenging, especially in rural areas and small-size cities
that may have very limited staff and capacity.
Implementation of AB 2819 would provide an important new grant resource to fill gaps in funding,
potentially reduce the overall fee increase to rural water users, and advance technology upgrades to
California’s rural infrastructure.
7) Related Legislation: Below is a list of bills from the current and prior sessions.
a) AB 78 (Assembly Budget Committee) 2020 IBank Budget Actions: This bill established a
Climate Catalyst Revolving Loan Fund at the IBank to receive funds from non-state governmental
entities and private sources for the purpose of making loans for climate catalyst projects that
further the state’s climate goals, and these moneys are available for expenditure upon
appropriation by the Legislature. Additionally, the bill set a $15 billion cap on the total amount of
rate reduction bonds and bonds issued to finance public development facilities that may be
outstanding at any one time. This bill also authorized the IBank’s board to establish one or more
programs administered by the bank directly, in conjunction with financial companies or financial
institutions, in direct or indirect participation with special purpose entities established for small
business finance or under contract with small business financial development corporations.
Status: Signed by the Governor, Chapter 10, Statutes of 2020.
b) SB 85 (Budget) Wildfire and Forest Resilience Package - Climate Catalyst Fund: This bill,
among other 2020-21 appropriations, provides a $16 million one-time General Fund as a part of a
comprehensive package to increase the pace and scale of forest health activities and reduce
wildfire risk. Status: Signed by the Governor, Chapter 14, Statutes of 2021.
c) AB 1447 (Cooley and Bigelow) Rural California Infrastructure Act: This bill would have
established the Rural California Infrastructure Act for the purpose of awarding $1 billion in grants
to local agencies for rural infrastructure projects, including fairground maintenance, disaster
preparedness, highway or street maintenance or repair, and historic or cultural preservation or
repair. Status: Held in the Assembly Committee on Appropriations, 2021.
d) SB 45 (Portantino) Wildfire Prevention, Safe Drinking Water, Drought Preparation, and Flood
Protection Bond Act of 2022: This bill enacts the Wildfire Prevention, Safe Drinking Water,
Drought Preparation, and Flood Protection Bond Act of 2022, which places a $5.595 billion
general obligation bond before voters in the November, 2022, general election, for the purpose of
financing projects for wildfire prevention, safe drinking water, drought preparation, and flood
protection. Status: Pending in the Senate Committee on Appropriations.
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8) Double Referral: The Assembly Committee on Rules has referred this measure to the Assembly
Committee on Emergency Management (EM) and the Assembly Committee on Jobs, Economic
Development, and the Economy. This measure passed EM on a 7 to 0 vote.
REGISTERED SUPPORT / OPPOSITION:
Support
California Special Districts Association
California State Association of Counties
Opposition
None on File
Analysis Prepared by: Toni Symonds / J., E.D., & E. / (916) 319-2090
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