(a) The bank shall, not later than January 1 of each year, submit to the Strategic Growth Council, the Governor, the Speaker of the Assembly, the President pro Tempore of the Senate, the Legislature, the legislative budget subcommittees related to climate, and the Legislative Analyst’s Office, pursuant to Section 9795, a report for the preceding fiscal year ending on June 30 containing information on the bank’s activities relating to the infrastructure bank fund and programs. The report shall include all of the following:
(1) (A) Information on the infrastructure bank fund, including, but not limited to, its present balance, moneys encumbered, moneys allocated, repayments, and other sources of revenues received during the fiscal year.
(B) Information on the impact of the activities funded by the infrastructure bank fund moneys, including, but not limited to, the number of jobs created and retained, the environmental impact that resulted, and economic value provided to the state.
(2) A specification of conduit and revenue bonds sold and interest rates thereon, including, but not limited to, the use of the bond proceeds.
(3) The amount of other public and private funds leveraged by the assistance provided.
(4) A report of revenues and expenditures for the preceding fiscal year, including all of the bank’s costs. The information provided pursuant to this subdivision shall include, but need not be limited to, both of the following:
(A) The amount and source of total bank revenues. Revenues shall be shown by main categories of revenues, including the General Fund, special funds, federal funds, interest earnings, fees collected, and bond proceeds, for each bank program.
(B) The amount and type of total bank expenditures. Expenditures shall be shown by major categories of expenditures, including loans provided, debt service payments, and program support costs, for each bank program.
(5) A projection of the bank’s needs and requirements for the coming year.
(6) Recommendations for changes in state and federal law necessary to meet the objectives of this division.
(7) The contents of the report prepared by the program manager of the California Small Business Finance Center consistent with the requirements of Section 63089.98.
(8) The contents of the report containing Climate Catalyst Revolving Fund Program activity consistent with the requirements of Section 63048.94.
(b) The executive director shall post the report on the bank’s internet website.
(c) The bank shall provide written notification to the Joint Legislative Budget Committee when federal funds are fully recycled into state dollars before committing to any additional financing projects.
(Amended by Stats. 2025, Ch. 20, Sec. 27. (AB 137) Effective June 30, 2025.)