Bill > AB407

This bill amends several sections of California law related to the California Pollution Control Financing Authority (CPCFA), making changes to multiple capital access loan programs. The bill expands the California Capital Access Fund's ability to receive and accept additional private, state, and federal funding sources, allowing the authority to develop terms and conditions for financial assistance from these sources. It modifies the California Americans with Disabilities Act Small Business Capital Access Loan Program and the California Seismic Safety Capital Access Loan Program by broadening the definition of "financial assistance" to include various financial support mechanisms like loans, loan loss reserves, interest rate reductions, bond proceeds, credit enhancements, and other financial tools. The bill also clarifies that all moneys accruing to the authority from these programs should be deposited into their respective funds, and provides the authority with more flexibility in administering these programs, including the ability to divide funds into separate accounts and establish detailed guidelines for loan enrollment, loss coverage, and program expenditures. Additionally, the bill removes some existing requirements related to utility project financing, potentially simplifying administrative processes for the authority.

Budget and Finance, Government Affairs

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB407