republic-os/legislation/us/states/ca/20112012/sb-1028.md

---
type: "Bill"
title: "Education finance."
description: "(1) Existing law authorizes a public credit provider, as defined, to require a participating party, with regard to providing credit enhancement for bonds, notes, certificates of participation, or other evidences of indebtedness of a participating party, to agree to specified conditions, including allowing the Controller to allocate specified school district, county office of education, or charter school apportionments to public credit providers if the public credit provider is required to make principal or interest payments, or both, pursuant to the credit enhancement agreement. Existing law imposes those same conditions on securing financing or refinancing for projects or working capital from the California School Finance Authority, in which case the Controller allocates apportionments to an identified trustee when a participating party will not make a payment to the authority at the time the payment is required. Existing law also requires any amount apportioned pursuant to these provisions to be deemed an allocation to the participating party for specified purposes."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20112012"
identifier: "SB 1028"
citation: "California SB 1028 (20112012)"
classification: ["bill", "appropriation"]
subjects: ["Education finance."]
status: "enacted"
primary_sponsors: ["Committee on Budget and Fiscal Review"]
version_count: 6
action_count: 22
vote_count: 3
first_action: "2012-02-06"
last_action: "2012-09-26"
source: "openstates"
source_identifier: "ocd-bill/e437d6fb-f649-4a52-8ecc-cf5905993d30"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120SB1028"
source_hash: "675b4f7be993cc03810da547c5cc48ae97d9399c46d71a6850d770b1d1c4abbd"
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 1028 (20112012) — Education finance.

(1) Existing law authorizes a public credit provider, as defined, to require a participating party, with regard to providing credit enhancement for bonds, notes, certificates of participation, or other evidences of indebtedness of a participating party, to agree to specified conditions, including allowing the Controller to allocate specified school district, county office of education, or charter school apportionments to public credit providers if the public credit provider is required to make principal or interest payments, or both, pursuant to the credit enhancement agreement. Existing law imposes those same conditions on securing financing or refinancing for projects or working capital from the California School Finance Authority, in which case the Controller allocates apportionments to an identified trustee when a participating party will not make a payment to the authority at the time the payment is required. Existing law also requires any amount apportioned pursuant to these provisions to be deemed an allocation to the participating party for specified purposes.

## Version chain

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

1. **02/06/12 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB1028&version=20110SB102899INT)
2. **08/23/12 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB1028&version=20110SB102898AMD)
3. **08/30/12 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB1028&version=20110SB102897AMD)
4. **09/26/12 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB1028&version=20110SB102895CHP)
5. **SB1028** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120SB1028)
6. **09/05/12 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB1028&version=20110SB102896ENR)

## Votes

- 3rd Reading SB1028 Committee on B. & F.R. — **23–10** (pass) · upper
- SB 1028 B. & F. R. Senate Third Reading By BLUMENFIELD — **50–27** (pass) · lower
- Unfinished Supp 5 SB1028 Committee on B. & F.R. — **24–10** (pass) · upper

## Sponsors

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

## Timeline

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

- **2012-02-06** Introduced. Read first time. To Com. on RLS. for assignment. To print. `introduction, reading-1`
- **2012-02-07** From printer. May be acted upon on or after March 8.
- **2012-02-16** Referred to Com. on RLS. `referral-committee`
- **2012-03-08** Withdrawn from committee. (Ayes 24. Noes 14. Page 2916.)
- **2012-03-08** Ordered to second reading.
- **2012-03-12** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2012-03-22** Read third time. Passed. (Ayes 23. Noes 10. Page 2981.) Ordered to the Assembly. `reading-3, reading-1, passage`
- **2012-03-22** In Assembly. Read first time. Held at Desk. `reading-1`
- **2012-03-26** Referred to Com. on BUDGET. `referral-committee`
- **2012-08-23** From committee with author's amendments. Read second time and amended. Re-referred to Com. on BUDGET. `reading-2, reading-1, committee-passage, amendment-passage, referral-committee`
- **2012-08-30** Withdrawn from committee. (Ayes 52. Noes 26. Page 6634.)
- **2012-08-30** Ordered to third reading.
- **2012-08-30** Action rescinded whereby the bill was withdrawn from committee and ordered to third reading. `reading-3, withdrawal`
- **2012-08-30** From committee with author's amendments. Read second time and amended. Re-referred to Com. on BUDGET. `reading-2, reading-1, committee-passage, amendment-passage, referral-committee`
- **2012-08-31** Withdrawn from committee. (Ayes 51. Noes 27. Page 6732.)
- **2012-08-31** Ordered to third reading.
- **2012-08-31** Read third time. Passed. (Ayes 50. Noes 27. Page 6733.) Ordered to the Senate. `reading-3, reading-1, passage`
- **2012-08-31** In Senate. Concurrence in Assembly amendments pending.
- **2012-08-31** Assembly amendments concurred in. (Ayes 24. Noes 10. Page 5113.) Ordered to engrossing and enrolling. `committee-passage-favorable, amendment-passage`
- **2012-09-06** Enrolled and presented to the Governor at 11:30 a.m.
- **2012-09-26** Approved by the Governor. `executive-signature`
- **2012-09-26** Chaptered by Secretary of State. Chapter 575, Statutes of 2012.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e437d6fb-f649-4a52-8ecc-cf5905993d30`. Confidence: reported (aggregated from official California legislature records).