CSDA successfully worked on an effort last year to stop AB 155 by Assembly Member Tony Mendoza (D-Artesia). The bill requires any local entity, including special districts, to first gain the approval from the California Debt and Investment Advisory Commission (CDIAC) before filing for Chapter 9 bankruptcy.
Last year, AB 155 did not have sufficient votes to pass out of the Senate Local Government Committee. However, this year, the membership of the Senate Local Government Committee has changed so we need your help, more than ever, to stop this bill from moving forward.
AB 155 is set to be heard in the Senate Local Government Committee on Wednesday, April 21. CSDA , CSAC, the League of California Cities, the Regional Council of Rural Counties, the Urban Counties Caucus, along with a number of individual local agencies, are working diligently to secure “no” votes on AB 155.
Although local entities do not wish to be in a situation where they must consider bankruptcy as an option, it is a choice that should be made at a local level, not by a state commission comprised of state elected officials.
Send in your letter of opposition today. Remember, every letter matters and every “no” vote counts towards the success of CSDA’s efforts!