Existing law authorizes the Department of Water Resources to administer contracts entered into before January 1, 2003, for the purchase of electricity, and to sell electricity to retail end-use customers and, with certain exceptions, local publicly owned utilities, at not more than the department's acquisition costs. Existing law requires the department to recover those costs through the issuance of bonds, in an amount up to $13,423,000,000, or as otherwise specified, to be repaid by ratepayers. Existing law authorizes the department to refund those bonds and specifies that the refunding of bonds to obtain a lower interest rate is not subject to the aggregate amount of bonds authorized to be issued.
California AB 1550 (20092010) — Department of Water Resources: refunding bonds.
Existing law authorizes the Department of Water Resources to administer contracts entered into before January 1, 2003, for the purchase of electricity, and to sell electricity to retail end-use customers and, with certain exceptions, local publicly owned utilities, at not more than the department's acquisition costs. Existing law requires the department to recover those costs through the issuance of bonds, in an amount up to $13,423,000,000, or as otherwise specified, to be repaid by ratepayers. Existing law authorizes the department to refund those bonds and specifies that the refunding of bonds to obtain a lower interest rate is not subject to the aggregate amount of bonds authorized to be issued.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Do pass, to Consent Calendar. — pass (pass) · lower
Do pass, to Consent Calendar. — pass (pass) · lower
Do pass. — pass (pass) · upper
Do pass, but re-refer to the Committee on Appropriations Recommend Consent. — pass (pass) · upper
AB 1550 B.& F. Consent Calendar Second Day Regular Session — pass (pass) · lower
Special Consent #12 AB1550 Committee on B. & F. (Nava) — pass (pass) · upper
Sponsors
Committee on Banking and Finance — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2009-03-10 Read first time. To print. reading-1
2009-03-11 From printer. May be heard in committee April 11.
2009-04-02 Referred to Coms. on W.,P. & W. and B. & F. referral-committee
2009-04-13 Re-referred to Com. on B. & F. by unanimous consent. referral-committee
2009-04-15 From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. amendment-introduction, reading-2, amendment-passage, reading-1
2009-04-16 Re-referred to Com. on B. & F. referral-committee
2009-04-21 From committee: Do pass. To Consent Calendar. (April 20). committee-passage-favorable, committee-passage
2009-04-22 Read second time. To Consent Calendar. reading-2, reading-1
2009-04-22 Re-referred to Com. on APPR. pursuant to Joint Rule 10.5. referral-committee
2009-05-07 From committee: Do pass. To Consent Calendar. (May 6). committee-passage-favorable, committee-passage
2009-05-11 Read second time. To Consent Calendar. reading-2, reading-1
2009-05-14 Read third time, passed, and to Senate. (Ayes 73. Noes 0. Page 1471.) reading-3, passage, reading-1
2009-05-14 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2009-05-21 Referred to Com. on B., F. & I. referral-committee
2009-06-18 From committee: Do pass, and re-refer to Com. on APPR with recommendation: To Consent Calendar. Re-referred. (Ayes 11. Noes 0.) (June 17). committee-passage-favorable, committee-passage
2009-06-30 From committee: Do pass. (Ayes 11. Noes 0.) (June 29). committee-passage-favorable, committee-passage
2009-07-01 Read second time. To third reading. reading-2, reading-1
2009-07-02 Ordered to Special Consent Calendar.
2009-07-09 Read third time, passed, and to Assembly. (Ayes 34. Noes 0. Page 1669.) reading-3, passage, reading-1
2009-07-09 In Assembly. To enrollment.
2009-07-30 Enrolled and to the Governor at 2:30 p.m.
2009-08-05 Approved by the Governor. executive-signature
2009-08-06 Chaptered by Secretary of State - Chapter 154, Statutes of 2009.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/31cf7fdc-b37a-46c1-b9b9-adfd0ba094e4. Confidence: reported (aggregated from official California legislature records).