AB 155 was approved today by the Senate Local Government Committee on a 3-1 vote. The Committee focused its discussions on new amendments that provide an alternative to the CDIAC process. Unfortunately, the potential for significant delay still exists, placing local programs and services at risk.
AB 155 is back, amended and scheduled to be heard in the Senate Local Government Committee on Tuesday, August 24.
Just like that, arguably the most hated bill of the 2009-10 legislative session is revived.
AB 155 – Bankruptcy Bill Moves to the Inactive File
The Senate Appropriations Committee just moved AB 155 by Assembly Member Tony Mendoza from the Suspense File to the Senate Floor on a 6-4 vote. The bill was amended to eliminate the ability of the California Debt and Investment Advisory Commission (CDIAC) to impose conditions on a local agency’s request to seek Chapter 9 bankruptcy [...]