---
type: "Bill"
title: "Energy."
description: "(1) The Bergeson-Peace Infrastructure and Economic Development Bank Act establishes the California Infrastructure and Economic Development Bank (I-Bank) in the Governor's Office of Business and Economic Development. The act, among other things, authorizes the I-Bank to make loans, issue bonds, and provide financial assistance for various types of projects that qualify as economic development or public development facilities."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20232024"
identifier: "SB 124"
citation: "California SB 124 (20232024)"
classification: ["bill", "appropriation"]
subjects: ["Energy"]
status: "enacted"
primary_sponsors: ["Committee on Budget and Fiscal Review"]
version_count: 5
action_count: 19
vote_count: 3
first_action: "2023-01-18"
last_action: "2023-07-10"
source: "openstates"
source_identifier: "ocd-bill/628096c4-12a1-4bcf-a478-58d1aa76466a"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240SB124"
source_hash: "34cdafcc4c7eaec7baeb04eef154c11eaedbfab4278b578b9bfbf62a4b0260af"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California SB 124 (20232024) — Energy.

(1) The Bergeson-Peace Infrastructure and Economic Development Bank Act establishes the California Infrastructure and Economic Development Bank (I-Bank) in the Governor's Office of Business and Economic Development. The act, among other things, authorizes the I-Bank to make loans, issue bonds, and provide financial assistance for various types of projects that qualify as economic development or public development facilities.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **01/18/23 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240SB124&version=20230SB12499INT)
2. **06/26/23 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240SB124&version=20230SB12498AMD)
3. **07/10/23 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240SB124&version=20230SB12495CHP)
4. **SB124** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240SB124)
5. **07/05/23 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202320240SB124&version=20230SB12496ENR)

## Votes

- 3rd Reading SB124 B. & F.R. — **29–8** (pass) · upper
- SB 124 B. & F. R. Senate Third Reading By TING — **57–14** (pass) · lower
- Unfinished Business SB124 B. & F.R. (Skinner) Concurrence — **29–2** (pass) · upper

## Sponsors

- Committee on Budget and Fiscal Review — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-01-18** Introduced. Read first time. To Com. on RLS. for assignment. To print. `introduction, reading-1`
- **2023-01-19** From printer. May be acted upon on or after February 18.
- **2023-01-25** Referred to Com. on B. & F.R. `referral-committee`
- **2023-03-16** Withdrawn from committee. (Ayes 28. Noes 8. Page 357.)
- **2023-03-16** Ordered to second reading.
- **2023-03-20** Read second time. Ordered to third reading. `reading-1, reading-2`
- **2023-03-27** Read third time. Passed. (Ayes 29. Noes 8. Page 493.) Ordered to the Assembly. `passage, reading-1, reading-3`
- **2023-03-27** In Assembly. Read first time. Held at Desk. `reading-1`
- **2023-03-30** Referred to Com. on BUDGET. `referral-committee`
- **2023-06-26** From committee with author's amendments. Read second time and amended. Re-referred to Com. on BUDGET. `amendment-passage, committee-passage, reading-1, reading-2, referral-committee`
- **2023-06-29** Assembly Rule 96 and 63 suspended. (Ayes 58. Noes 16. Page 2471.)
- **2023-06-29** Withdrawn from committee.
- **2023-06-29** Ordered to third reading.
- **2023-06-29** Read third time. Passed. (Ayes 57. Noes 14. Page 2479.) Ordered to the Senate. `passage, reading-1, reading-3`
- **2023-07-03** In Senate. Concurrence in Assembly amendments pending.
- **2023-07-05** Assembly amendments concurred in. (Ayes 29. Noes 2. Page 1894.) Ordered to engrossing and enrolling. `amendment-passage, committee-passage-favorable`
- **2023-07-05** Enrolled and presented to the Governor at 4 p.m.
- **2023-07-10** Approved by the Governor. `executive-signature`
- **2023-07-10** Chaptered by Secretary of State. Chapter 53, Statutes of 2023. `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/628096c4-12a1-4bcf-a478-58d1aa76466a`. Confidence: reported (aggregated from official California legislature records).