HomeMy WebLinkAboutMINUTES - 03021999 - C37 6.37
TO: BOARD OF SUPERVISORS
Contra
PHIL BATCHELOR, COUNTY ADMINISTRATORCosta
County
DATE., February 2$, 1999
SUBJECT: LEGISLATION. AE 551 (LONGVILLE)
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)S BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
ADOPT a position in SUPPORT of AB 551 by Assemblyman John Longville of San
Bernardino County which would require the State to pay interest to local agencies
on funds in the Fooled Money Investment Account which is derived from funds in the
account during a period of time that, except for a delay in enactment of the State
Budget, would have been transferred to those local agencies.
BACKGROUND:
The Board of Supervisors has no specific provision in its 1999 Legislative Program
addressing the problem which occurs when, because of a delay in the enactment of
a State Budget, local agencies must continue to pay bills and, in effect, advance
money to the State. However, this has been a real issue in past years and the Board
has expressed its frustration that it must, in effect, loan money to the State by
continuing to provide services when reimbursement for those services is delayed by
the delay in enacting a State Budget.
Assemblyman Longville has introduced AB 551 which, as introduced, would require
that any money in the Pooled Money Investment Account which is there solely
because of a delay in the enactment of a State Budget and, absent that delay,would
have been released to local agencies, to pay the interest the account gains because
of that delay to local agencies.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
— RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SICvNATURE S: -4999
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ACTION OF BOARD ON H APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
UNANIMOUS(ABSENT— m ) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
ATTESTED, March 2 s 1999
Contact: PHIL BATCHELOR,CLERK OF THE BOARD OF
cc: SUPERVISORS AND COUNTY ADUIN!STRATOR
s
B DEPUTY
Since AB 551 appears to address a problem which affects the County negatively on
a fairly regular basis, it is recommended that the Board amend its 1999 Legislative
Program to add this issue and to indicate its support of AB 551.
cc: County Administrator
Auditor-Controller
Tony Enea, Senior [deputy County Administrator
Assemblyman John Longville
Room 3129 State Capitol
Sacramento, CA 95814
Les Spahnn
Heim, Noack, Kelly & Spahnn
1121 L Street, Suite 190
Sacramento, CA 95814
-2-
CALIFORNIA LEGISLATURE-1999-2000 REGULAR SESSION
ASSEMBLY BILL No. 551
Introduced by Assembly Member Longville
(Principal coauthor. Assembly Member Steinberg)
February 18, 1999
An act to add Section 16481.3 to the Government Code,
relating to state funds, and malting an appropriation therefor.
LEGISLATIVE COUNSEVS DIGEST
AB 551, as introduced, Longville. State funds, interest.
Existing law provides for the investment of money in the
State Treasury, generally, by the Pooled :Money Investment
Board, in the fooled Money Investment Account. Interest
earned and increments derived from these investments are
distributed to the Surplus Money Investment Fund and the
General Fund.
This bill would appropriate to local governmental agencies
any interest earned or increment derived from funds in the
account during a period of time that, except for a delay in
enactment of the state budget, would have been transferred
to those local govemmental agencies.
Vote: 2I3. Appropriation: yes. Fiscal committee: yes.
State-mandated local program: no.
The people of the State of California do enact as follows:
1 SECTION 1. Section 16481.3 is added to the
2 Government Code, to read:
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AB 551 —2-
1 16481.3. Notwithstanding any other provision in this
2 article to the contrary, any interest earned or increment
3 derived from funds deposited in the Pooled Money
4 Investment Account during a period of time that, except
5 for a delay in enactment of the state budget, would have
6 been transferred to an agency of local government, as
7 defined in subdivision {d} of Section 8 of Article XIII B of
8 the California Constitution, is hereby appropriated to the
9 Controller for allocation to those local agencies, on a pro
10 rata basis.
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