Building Homes and Jobs Trust Fund.

Plain English Breakdown

The bill did not pass into law and was stopped at the governor's desk.

Building Homes and Jobs Trust Fund

AB-1475 creates a new trust fund in the State Treasury called the Building Homes and Jobs Trust Fund, which will hold money to be used according to rules set by state laws.

What This Bill Does

• Creates a new trust fund named the Building Homes and Jobs Trust Fund within the State Treasury.
• Requires that any money put into this fund must be used according to rules set in the annual Budget Act or other specific laws.

Who It Names or Affects

• The state government and agencies responsible for managing funds and creating budgets.

Terms To Know

Trust Fund

A special account where money is kept to be used only for certain purposes, as decided by the law.

Budget Act

The main state law that decides how government money will be spent each year.

Limits and Unknowns

• This bill did not pass into law and was stopped at the governor's desk.
• It is unclear exactly what nonsubstantive changes were made to existing rules about the trust fund.

Official Summary Text

AB 1475, as introduced, Harabedian.
Building Homes and Jobs Trust Fund.
The Building Homes and Jobs Act (BHJA) creates in the State Treasury the Building Homes and Jobs Trust Fund and requires the moneys in the fund to be appropriated through the annual Budget Act or as prescribed in the BHJA.
This bill would make nonsubstantive changes to that provision.

Current Bill Text

Download Bill PDF