Capital Programs and Climate Financing Authority Act: California Investment and Innovation Program.

The repeal of Division 23 (commencing with Section 80000) of the Financial Code, which established the Bank on California Program, was removed from the bill. The Bank on California Program will no longer be repealed by this legislation.

The bill title was changed from an act to both repeal Division 23 of the Financial Code and amend Section 44548 of the Health and Safety Code, to an act solely to amend Section 44548 of the Health and Safety Code and make an appropriation therefor.

The appropriation designation was clarified in the enrolled version as 'Appropriation: yes' (the prior version had a confusing 'no yes' entry). The bill makes an appropriation by expanding the purposes for which moneys in a continuously appropriated fund may be used.

The provision adding Section 104210.3 to the Health and Safety Code, which would have prohibited cities and counties from preventing firefighters from voluntarily participating in cancer research studies under the California Firefighter Cancer Prevention and Research Program, was entirely removed.

Senator Cortese was removed as co-sponsor; only Senator Grayson remains.

New Section 44548 of the Health and Safety Code authorizes the Capital Programs and Climate Financing Authority to establish one or more small business assistance funds for financing pollution control facilities, brownfield site cleanup and remediation, a capital access program for small businesses, and a grant program for community development financial institutions under the California Investment and Innovation Program.

The authority may levy fees, charges, or deposits from participating parties receiving project financing, capped at 3 percent of the principal amount of a single bond issue. The authority must adopt regulations before levying any fees, including eligibility standards and payment schedules.

The appropriation designation changed from 'no' to 'yes' because the bill expands the purposes for which moneys in a continuously appropriated fund may be used.

The bill specifies multiple forms of financial assistance the authority may provide, including interest rate reductions, payments for letters of credit, insurance costs, guarantees, nonreimbursable payments to borrowers, and grants to community development financial institutions. Repaid moneys must be deposited back into the original fund.

The vote requirement changed from a simple majority to two-thirds, and the bill now requires fiscal committee review (changed from no to yes).

Added a new Section 1 that repeals Division 23 (commencing with Section 80000) of the Financial Code, eliminating the Bank on California Program established within the Department of Financial Protection and Innovation. This program was a voluntary collaborative initiative that helped Californians open bank or credit union accounts and save for the future.

The bill title was expanded from 'relating to public health' to 'relating to public health. financial institutions,' reflecting the addition of the Bank on California Program repeal.

Removed the legislative intent statement (former Section 1) that declared it was the intent of the Legislature to enact legislation relating to the California Firefighter Cancer Prevention and Research Program. The actual prohibition on local governments preventing firefighter participation in studies remains, but is now renumbered as Section 2.

The fiscal committee designation changed from 'no' to 'yes,' indicating the bill now has fiscal implications, likely due to the repeal of the Bank on California Program which had budgetary effects.

New Section 104210.3 added to the Health and Safety Code prohibiting local governments from preventing firefighters or fire departments from voluntarily participating in studies funded under grants awarded pursuant to Section 104210.1, including requiring access to facilities and use of equipment for grant purposes.

The bill changed from a purely aspirational intent statement to one that includes an enforceable prohibition on local government interference with firefighter research participation.