summary
Introduced
01/10/2017
01/10/2017
In Committee
09/15/2017
09/15/2017
Crossed Over
05/18/2017
05/18/2017
Passed
09/16/2017
09/16/2017
Dead
Signed/Enacted/Adopted
10/15/2017
10/15/2017
Introduced Session
2017-2018 Regular Session
Bill Summary
An act relating to public contracts.
AI Summary
This bill authorizes the Governor to execute "games support contracts" that accept financial liability, up to $270 million, to provide the state security for amounts owed by the Organizing Committee for the Olympic Games (OCOG) and any financial deficit accruing to the OCOG as a result of hosting the 2028 Olympic Games and Paralympic Games in the City of Los Angeles, which has developed a self-sufficient bid for financing the games. The bill establishes the Olympic Games Trust Fund in the State Treasury to fund these obligations, and requires the state to be the payer of last resort after the OCOG, endorsing municipality, and other entities have exhausted their security.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (21)
Reggie Jones-Sawyer (D)*,
Ben Allen (D),
Richard Bloom (D),
Raul Bocanegra (D),
Rob Bonta (D),
Steve Bradford (D),
Autumn Burke (D),
Ian Calderon (D),
Edwin Chau (D),
Matthew Dababneh (D),
Kevin de León (D),
Laura Friedman (D),
Ted Gaines (R),
Cristina Garcia (D),
Chris Holden (D),
Ricardo Lara (D),
Evan Low (D),
Adrin Nazarian (D),
Richard Pan (D),
Anthony Rendon (D),
Miguel Santiago (D),
Last Action
Chaptered by Secretary of State - Chapter 836, Statutes of 2017. (on 10/15/2017)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=201720180AB132 |
| Bill | http://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201720180AB132 |
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