SB 769: The Golden State Infrastructure Corporation Act.

The bill aims to establish a not-for-profit corporation within the state treasurer's office to administer infrastructure financing. The corporation will have a board of directors and an executive director, and will have the power to enter into financing transactions, borrow money, and issue bonds. The state will not be liable for any obligations of the corporation, and the corporation will not be required to pay taxes. The corporation will provide financing to infrastructure companies, governmental entities, or a combination of both, if the board determines that the financing meets specified criteria. The board will approve operational policies prior to providing financing for any infrastructure project. The corporation will have access to the state infrastructure and economic development bank fund to support its activities. The bill will create a golden state infrastructure corporation…