California § 63045. 63045. (Amended by Stats. 2021, Ch. 356, Sec. 2.)

California Statutes

§ 63045. — 63045. (Amended by Stats. 2021, Ch. 356, Sec. 2.)

California § 63045.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.1.

Title 6.7.DIVISION 1. THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT

Ch. 2.CHAPTER 2. California Infrastructure and Economic Development Bank

Art. 5.ARTICLE 5. Financing Economic Development Facilities

This text of California § 63045. (63045. (Amended by Stats. 2021, Ch. 356, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 63045. (2026).

Text

In order to provide or arrange for the financing of economic development facilities, the bank may:

(a)Issue taxable revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for economic development projects compatible with the public interest as specified in Section 63046.

(b)Issue taxable revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for the revolving loan funds and economic development projects of small business development corporations, local economic development corporations, community development corporations, and nonprofit organizations, which revolving loan funds and economic development projects shall be compatible with the public interest.

(c)Issue tax-exempt revenue bonds pursuant to Chapter 5 (co

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In order to provide or arrange for the financing of economic development facilities, the bank may:
(a)
Issue taxable revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for economic development projects compatible with the public interest as specified in Section 63046.
(b)
Issue taxable revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for the revolving loan funds and economic development projects of small business development corporations, local economic development corporations, community development corporations, and nonprofit organizations,
which revolving loan funds and economic development projects shall be compatible with the public interest.
(c)
Issue tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) to provide financing for economic development facilities as permitted by federal law and in accordance with applicable California law relating to the distribution of state allocations for private activity bonds. The proceeds of private activity bonds issued by the bank under any state allocation shall not be used to finance any housing. Projects so financed shall be compatible with the public interest as specified in Section 63046.
(d)
Issue tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) for economic development facilities of public sector and nonprofit
organizations qualifying for exemption under federal law.

Legislative History

Amended by Stats. 2021, Ch. 356, Sec. 2. (AB 1297) Effective January 1, 2022.

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California § 63045., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/GOV/63045..