California Government Code

§ 91502.1

GOV § 91502.1 Effective Nov 5, 2009Title 10 · Ch. 1 · Art. 1

Statute text

(a)The Legislature declares that it is the policy of this state, consistent with environmental, resource conservation, and other policies, to facilitate for and on behalf of private enterprise the acquisition of property, either suitable for or evidencing an obligation respecting any one or more of the activities or uses set forth in Section 91503, through the issuance of revenue bonds by authorities in accordance with the criteria set forth in subdivision (b), and that this additional method of financing when made available in accordance with that policy serves a public purpose and will promote the prosperity, health, safety, and welfare of the citizens of the State of California.

(b)The Legislature declares that the criteria to be utilized to determine whether this method of financing may be made available shall include the following:

(1)Whether employment benefits arising out of the use of the facilities may ensue by securing or increasing (A) the number of employees of the company and any other direct users of the facilities or (B) compensation for that employment, the value of which may be expressed in terms of aggregate direct employment earnings.

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Legislative history

Amended by Stats. 2009, Ch. 648, Sec. 4. (AB 1009) Effective November 5, 2009.