AB 407: California Pollution Control Financing Authority.

California · Assembly · 2025–2026 Regular Session · last verified February 3, 2026

What AB 407 does, verified February 3, 2026

This bill aims to make an appropriation by creating a continuously appropriated fund. It requires all moneys accruing to the California Pollution Control Financing Authority to be deposited into the fund, and allows for the receipt and acceptance of private, state, or federal funding sources into the fund. The bill expands the expenditures that may be made from the fund, including financial assistance for small businesses and property owners affected by disasters, such as earthquakes. This financial assistance would be used to provide loans and support to these businesses and property owners.

Bill journey

✓IntroducedComplete

2In CommitteeCurrent

3First Chamber FloorPending

4Second ChamberPending

5GovernorPending

6ChapteredPending

Last action: From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. (2026-02-02)Alert me

Author and sponsors

Asm. Corey JacksonAuthor · California State Assembly

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Recent actions13 total · showing 5

Feb. 02, 2026	From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
Jan. 31, 2026	Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
May. 23, 2025	In committee: Held under submission.
May. 14, 2025	In committee: Set, first hearing. Referred to suspense file.
May. 06, 2025	Re-referred to Com. on APPR.

Full action history, 8 earlier actionsConnect Plus

Latest bill textAmended version, May 5, 2025 · 554 words

Amended IN Assembly May 05, 2025

Amended IN Assembly April 23, 2025

CALIFORNIA LEGISLATURE— 2025–2026 REGULAR SESSION

Assembly Bill

No. 407

Introduced by Assembly Member Jackson

February 04, 2025

An act ~~to amend Section 6588.7 of the Government Code, and~~ to amend Sections 44559.1, 44559.13, and 44559.14 of, and to add Section 44559.10 to, the Health and Safety Code, relating to state government, and making an appropriation therefor.

LEGISLATIVE COUNSEL'S DIGEST

AB 407, as amended, Jackson. California Pollution Control Financing Authority.

(1)Existing law, the Marks-Roos Local Bond Pooling Act of 1985, authorizes certain joint powers authorities, among other powers, to issue bonds and loan the proceeds to local agencies to finance specified types of projects and programs. The act authorizes a local agency that owns and operates a publicly owned utility to apply to specified joint power authorities to finance costs of a utility project for the publicly owned utility with the proceeds of rate reduction bonds if certain conditions are satisfied. The act requires the California Pollution Control Financing Authority (CPCFA) to review each issue of bonds and make specified determinations and imposes related duties on the CPCFA.
~~This bill would remove the requirements and duties imposed on the CPCFA described above.~~
~~(2)~~
(1)
Existing law establishes the California Pollution Control Financing Authority (CPCFA), consisting of 3 members: the Director of Finance, the State Treasurer, and the State Controller. Existing law establishes the Capital Access Loan Program for Small Businesses, which is administered by the CPCFA, to assist qualifying small businesses in the state access ~~capital.Existing~~ capital. Existing law establishes the California Capital Access Fund within the authority to be used for purposes of the program.

This bill would require all moneys accruing to the authority pursuant to the program to be deposited into the fund. The bill would authorize other private, state, or federal funding sources to be received and accepted into the fund, as specified. By creating a continuously appropriated fund, this bill would make an appropriation.

~~(3)~~
(2)
Existing law establishes the California Americans with Disabilities Act Small Business Capital Access Loan Program to assist small businesses in complying with the federal Americans with Disabilities Act of 1990. Existing law establishes the California Americans with Disabilities Act Small Business Capital Access Loan Program Fund, which is continuously appropriated to CPCFA for carrying out the purposes of the program. Existing law requires that all moneys in the fund be held in trust for the life of the program, subject to program expenditures and costs of administering the program. Existing law specifies those program expenditures.

This bill would include financial assistance, as defined and specified, as a program expenditure described above. By expanding the expenditures that may be made from a continuously appropriated fund, this bill would make an appropriation.

~~(4)~~
(3)
Existing law establishes the California Seismic Safety Capital Access Loan Program to cover losses on qualified loans by participating lenders to qualified residential property owners or qualified small businesses, as those terms are defined. Existing law establishes the California Seismic Safety Capital Access Loan Program Fund, which is continuously appropriated to CPCFA for carrying out the purposes of the program. Existing law requires that all moneys in the fund be held in trust for the life of the program, subject to program expenditures and costs of administering the program. Existing law specifies those program expenditures.

Text of AB 407 as amended, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions