republic-os/legislation/us/states/ca/20092010/ab-1550.md

---
type: "Bill"
title: "Department of Water Resources: refunding bonds."
description: "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."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20092010"
identifier: "AB 1550"
citation: "California AB 1550 (20092010)"
classification: ["bill"]
subjects: ["Department of Water Resources: refunding bonds."]
status: "enacted"
primary_sponsors: ["Committee on Banking and Finance"]
version_count: 5
action_count: 23
vote_count: 6
first_action: "2009-03-10"
last_action: "2009-08-06"
source: "openstates"
source_identifier: "ocd-bill/31cf7fdc-b37a-46c1-b9b9-adfd0ba094e4"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=200920100AB1550"
source_hash: "3a1d8c7270351616d9700b448607354164f338ff21614c7fceb36f9fee87ba29"
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 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.

1. **03/10/09 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=200920100AB1550&version=20090AB155099INT)
2. **04/15/09 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=200920100AB1550&version=20090AB155098AMD)
3. **08/06/09 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=200920100AB1550&version=20090AB155096CHP)
4. **AB1550** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=200920100AB1550)
5. **07/13/09 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=200920100AB1550&version=20090AB155097ENR)

## Votes

- 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](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/31cf7fdc-b37a-46c1-b9b9-adfd0ba094e4`. Confidence: reported (aggregated from official California legislature records).