SB-769
Infrastructure

The Golden State Infrastructure Corporation Act.

Engrossed
CA
2025-2026 Regular Session
0
0
Track

Key Takeaways

  • Establishes the Golden State Infrastructure Corporation to finance public and private infrastructure projects.
  • Creates a continuously appropriated fund to support infrastructure development and improvements.
  • Authorizes the corporation to issue revenue bonds and provide financing for qualifying projects.
  • Prioritizes projects that create long-term employment and requires annual reporting on fund activities.

Summary

Senator Caballero's Golden State Infrastructure Corporation Act establishes a new not-for-profit entity within the State Treasurer's Office to finance infrastructure development across California. The corporation will provide loans, issue bonds, and offer other financing mechanisms to both government agencies and private infrastructure companies.

The corporation will operate under a board of directors chaired by the State Treasurer and including the Controller, the Director of Business and Economic Development, and two gubernatorial appointees with expertise in real estate financing and development. An executive director appointed by the Treasurer will manage daily operations. The board must approve operational policies before any financing can be provided.

The legislation creates the Golden State Infrastructure Corporation Fund as a continuously appropriated source of capital for the corporation's activities. The corporation can issue revenue bonds, make direct loans, provide credit enhancements, and structure other financing arrangements. While the corporation will be subject to public records laws, certain confidential financial information and critical infrastructure details will be exempt from disclosure. The board may hold closed sessions to review sensitive financing matters.

Projects that create or retain long-term employment will receive priority consideration. The corporation must submit annual reports to the Governor, Legislature and Legislative Analyst detailing its financing activities, administrative costs, and economic impacts. While operating as a state agency, the corporation's obligations will not constitute state debt or liability.

Key Dates

Next Step
Referred to the Assembly Standing Committee on Appropriations
Next Step
Assembly Committee
Referred to the Assembly Standing Committee on Appropriations
Hearing has not been scheduled yet
Assembly Economic Development, Growth, And Household Impact Hearing
Assembly Committee
Assembly Economic Development, Growth, And Household Impact Hearing
Do pass and be re-referred to the Committee on [Appropriations]
Assembly Judiciary Hearing
Assembly Committee
Assembly Judiciary Hearing
Do pass and be re-referred to the Committee on [Economic Development, Growth, and Household Impact]
Assembly Judiciary Hearing
Assembly Committee
Assembly Judiciary Hearing
Do pass and be re-referred to the Committee on [Economic Development, Growth, and Household Impact]
Vote on Senate Floor
Senate Floor
Vote on Senate Floor
Senate 3rd Reading SB769 Caballero
Senate Appropriations Hearing
Senate Committee
Senate Appropriations Hearing
Do pass
Senate Appropriations Hearing
Senate Committee
Senate Appropriations Hearing
Placed on suspense file
Senate Judiciary Hearing
Senate Committee
Senate Judiciary Hearing
Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]
Senate Business, Professions and Economic Development Hearing
Senate Committee
Senate Business, Professions and Economic Development Hearing
Do pass, but first be re-referred to the Committee on [Judiciary]
Introduced
Senate Floor
Introduced
Introduced. To Com. on RLS. for assignment. To print.

Contacts

Profile
Anna CaballeroD
Senator
Bill Author
Not Contacted
Not Contacted
Profile
Joaquin ArambulaD
Assemblymember
Committee Member
Not Contacted
Not Contacted
Profile
Cottie Petrie-NorrisD
Assemblymember
Bill Author
Not Contacted
Not Contacted
Profile
Buffy WicksD
Assemblymember
Committee Member
Not Contacted
Not Contacted
Profile
Lisa CalderonD
Assemblymember
Committee Member
Not Contacted
Not Contacted
0 of 17 row(s) selected.
Page 1 of 4
Select All Legislators
Profile
Anna CaballeroD
Senator
Bill Author
Profile
Joaquin ArambulaD
Assemblymember
Committee Member
Profile
Cottie Petrie-NorrisD
Assemblymember
Bill Author
Profile
Buffy WicksD
Assemblymember
Committee Member
Profile
Lisa CalderonD
Assemblymember
Committee Member
Profile
Mike FongD
Assemblymember
Committee Member
Profile
Diane DixonR
Assemblymember
Committee Member
Profile
Gregg HartD
Assemblymember
Committee Member
Profile
Blanca PachecoD
Assemblymember
Committee Member
Profile
Gail PellerinD
Assemblymember
Committee Member
Profile
Kate SanchezR
Assemblymember
Committee Member
Profile
Tri TaR
Assemblymember
Committee Member
Profile
Jessica CalozaD
Assemblymember
Committee Member
Profile
Mark GonzalezD
Assemblymember
Committee Member
Profile
Heather HadwickR
Assemblymember
Committee Member
Profile
Jose SolacheD
Assemblymember
Bill Author
Profile
Sade ElhawaryD
Assemblymember
Committee Member

Get Involved

Act Now!

Email the authors or create an email template to send to all relevant legislators.

Introduced By

Anna Caballero
Anna CaballeroD
California State Senator
Co-Authors
Cottie Petrie-Norris
Cottie Petrie-NorrisD
California State Assembly Member
Jose Solache
Jose SolacheD
California State Assembly Member
40% progression
Bill has passed all readings in its first house and is ready to move to the other house (5/28/2025)

Latest Voting History

July 8, 2025
PASS
Assembly Committee
Assembly Economic Development, Growth, And Household Impact Hearing
AyesNoesNVRTotalResult
6028PASS

Key Takeaways

  • Establishes the Golden State Infrastructure Corporation to finance public and private infrastructure projects.
  • Creates a continuously appropriated fund to support infrastructure development and improvements.
  • Authorizes the corporation to issue revenue bonds and provide financing for qualifying projects.
  • Prioritizes projects that create long-term employment and requires annual reporting on fund activities.

Get Involved

Act Now!

Email the authors or create an email template to send to all relevant legislators.

Introduced By

Anna Caballero
Anna CaballeroD
California State Senator
Co-Authors
Cottie Petrie-Norris
Cottie Petrie-NorrisD
California State Assembly Member
Jose Solache
Jose SolacheD
California State Assembly Member

Summary

Senator Caballero's Golden State Infrastructure Corporation Act establishes a new not-for-profit entity within the State Treasurer's Office to finance infrastructure development across California. The corporation will provide loans, issue bonds, and offer other financing mechanisms to both government agencies and private infrastructure companies.

The corporation will operate under a board of directors chaired by the State Treasurer and including the Controller, the Director of Business and Economic Development, and two gubernatorial appointees with expertise in real estate financing and development. An executive director appointed by the Treasurer will manage daily operations. The board must approve operational policies before any financing can be provided.

The legislation creates the Golden State Infrastructure Corporation Fund as a continuously appropriated source of capital for the corporation's activities. The corporation can issue revenue bonds, make direct loans, provide credit enhancements, and structure other financing arrangements. While the corporation will be subject to public records laws, certain confidential financial information and critical infrastructure details will be exempt from disclosure. The board may hold closed sessions to review sensitive financing matters.

Projects that create or retain long-term employment will receive priority consideration. The corporation must submit annual reports to the Governor, Legislature and Legislative Analyst detailing its financing activities, administrative costs, and economic impacts. While operating as a state agency, the corporation's obligations will not constitute state debt or liability.

40% progression
Bill has passed all readings in its first house and is ready to move to the other house (5/28/2025)

Key Dates

Next Step
Referred to the Assembly Standing Committee on Appropriations
Next Step
Assembly Committee
Referred to the Assembly Standing Committee on Appropriations
Hearing has not been scheduled yet
Assembly Economic Development, Growth, And Household Impact Hearing
Assembly Committee
Assembly Economic Development, Growth, And Household Impact Hearing
Do pass and be re-referred to the Committee on [Appropriations]
Assembly Judiciary Hearing
Assembly Committee
Assembly Judiciary Hearing
Do pass and be re-referred to the Committee on [Economic Development, Growth, and Household Impact]
Assembly Judiciary Hearing
Assembly Committee
Assembly Judiciary Hearing
Do pass and be re-referred to the Committee on [Economic Development, Growth, and Household Impact]
Vote on Senate Floor
Senate Floor
Vote on Senate Floor
Senate 3rd Reading SB769 Caballero
Senate Appropriations Hearing
Senate Committee
Senate Appropriations Hearing
Do pass
Senate Appropriations Hearing
Senate Committee
Senate Appropriations Hearing
Placed on suspense file
Senate Judiciary Hearing
Senate Committee
Senate Judiciary Hearing
Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]
Senate Business, Professions and Economic Development Hearing
Senate Committee
Senate Business, Professions and Economic Development Hearing
Do pass, but first be re-referred to the Committee on [Judiciary]
Introduced
Senate Floor
Introduced
Introduced. To Com. on RLS. for assignment. To print.

Latest Voting History

July 8, 2025
PASS
Assembly Committee
Assembly Economic Development, Growth, And Household Impact Hearing
AyesNoesNVRTotalResult
6028PASS

Contacts

Profile
Anna CaballeroD
Senator
Bill Author
Not Contacted
Not Contacted
Profile
Joaquin ArambulaD
Assemblymember
Committee Member
Not Contacted
Not Contacted
Profile
Cottie Petrie-NorrisD
Assemblymember
Bill Author
Not Contacted
Not Contacted
Profile
Buffy WicksD
Assemblymember
Committee Member
Not Contacted
Not Contacted
Profile
Lisa CalderonD
Assemblymember
Committee Member
Not Contacted
Not Contacted
0 of 17 row(s) selected.
Page 1 of 4
Select All Legislators
Profile
Anna CaballeroD
Senator
Bill Author
Profile
Joaquin ArambulaD
Assemblymember
Committee Member
Profile
Cottie Petrie-NorrisD
Assemblymember
Bill Author
Profile
Buffy WicksD
Assemblymember
Committee Member
Profile
Lisa CalderonD
Assemblymember
Committee Member
Profile
Mike FongD
Assemblymember
Committee Member
Profile
Diane DixonR
Assemblymember
Committee Member
Profile
Gregg HartD
Assemblymember
Committee Member
Profile
Blanca PachecoD
Assemblymember
Committee Member
Profile
Gail PellerinD
Assemblymember
Committee Member
Profile
Kate SanchezR
Assemblymember
Committee Member
Profile
Tri TaR
Assemblymember
Committee Member
Profile
Jessica CalozaD
Assemblymember
Committee Member
Profile
Mark GonzalezD
Assemblymember
Committee Member
Profile
Heather HadwickR
Assemblymember
Committee Member
Profile
Jose SolacheD
Assemblymember
Bill Author
Profile
Sade ElhawaryD
Assemblymember
Committee Member