Existing law authorizes the California Infrastructure and Economic Development Bank to sell specified portions of compact assets, defined as moneys required to be paid to the state under specified provisions of designated tribal compacts and the state's rights to receive those payments, to a special purpose trust, which may issue bonds that are secured against those assets. The net proceeds of the sale of the compact assets are required to be deposited into certain transportation funds in a specified order. Existing law requires that when the amounts described in those provisions have been paid to the transportation funds named, the revenues received by the state from the tribal compacts are required to be remitted to the California Gambling Control Commission for deposit in the General Fund.
Existing law authorizes the California Infrastructure and Economic Development Bank to sell specified portions of compact assets, defined as moneys required to be paid to the state under specified provisions of designated tribal compacts and the state's rights to receive those payments, to a special purpose trust, which may issue bonds that are secured against those assets. The net proceeds of the sale of the compact assets are required to be deposited into certain transportation funds in a specified order. Existing law requires that when the amounts described in those provisions have been paid to the transportation funds named, the revenues received by the state from the tribal compacts are required to be remitted to the California Gambling Control Commission for deposit in the General Fund.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
SB 838 B. & F. R. Senate Third Reading By TING — 49–28 (pass) · lower
Unfinished Business SB838 Committee On B. & F.R. (Leno) Concurrence — 25–13 (pass) · upper
3rd Reading SB838 Committee On B. & F.R. — 25–11 (pass) · upper
Sponsors
Committee on Budget and Fiscal Review — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2016-01-07 Introduced. Read first time. To Com. on RLS. for assignment. To print. introduction, reading-1
2016-01-08 From printer. May be acted upon on or after February 7.
2016-01-11 Referred to Com. on B. & F.R. referral-committee
2016-04-11 Withdrawn from committee.
2016-04-11 Ordered to second reading.
2016-04-12 Read second time. Ordered to third reading. reading-2, reading-1
2016-04-14 Read third time. Passed. (Ayes 25. Noes 11. Page 3540.) Ordered to the Assembly. reading-3, passage, reading-1
2016-04-14 In Assembly. Read first time. Held at Desk. reading-1
2016-05-02 Referred to Com. on BUDGET. referral-committee
2016-05-25 From committee with author's amendments. Read second time and amended. Re-referred to Com. on BUDGET. referral-committee, reading-2, amendment-passage, committee-passage, reading-1
2016-06-10 From committee with author's amendments. Read second time and amended. Re-referred to Com. on BUDGET. referral-committee, reading-2, amendment-passage, committee-passage, reading-1
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