LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeGovernment CodeDiv. 1Ch. 3§ 63056 Infrastructure Bank Fund Expenditures

§ 63056 Infrastructure Bank Fund Expenditures

Government Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 63056 Infrastructure Bank Fund Expenditures

Key Takeaways

  • •The infrastructure bank fund can spend money without most government approvals, except the Legislature.
  • •Every year, the bank must prepare a budget and report its activities to the Legislature by November 1.
  • •The bank’s budget must show how much money it has and owes, based on an audit from the previous year.
  • •The Legislature reviews and approves the bank’s budget in the annual Budget Act.

Example

Imagine a big piggy bank for building roads and bridges. This piggy bank doesn’t need permission from most government bosses to spend its money, but it does have to tell the Legislature (the big group of leaders) what it’s doing.

The piggy bank (infrastructure bank fund) has to make a plan every year showing how much money it has and what it owes. It sends this plan to the Legislature, who then says ‘yes’ or ‘no’ to how the money will be spent.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 63056 Infrastructure Bank Fund Expenditures

(a) Notwithstanding Chapter 2 (commencing with Section 12850) of Part 2.5 of Division 3 of Title 2 and Article 2 (commencing with Section 13320) of Chapter 3 of Part 3 of Division 3 of Title 2, expenditures of the infrastructure bank fund shall not be subject to the supervision or approval of any other officer or division of state government, with the exception of the Legislature. However, the bank’s budget shall be prepared and reviewed not later than November 1 of each year and the bank shall submit to the Legislature a report of its activities for the prior fiscal year, as specified in Section 63035. (b) The bank’s budget regarding the infrastructure bank fund shall include the amount of credit and liabilities of the fund, based on an audit of the fund at the close of the prior fiscal year. The bank’s operating budget shall be subject to review and appropriation in the annual Budget Act. (Amended by Stats. 2014, Ch. 132, Sec. 7. (AB 2749) Effective January 1, 2015.)

Last verified: January 22, 2026

Key Terms

portlegislaturethe california infrastructurenotwithstanding chapterbudget actexceptionappropriation

Related Statutes

  • § 15283 Public Safety Communications Fund
  • § 68926.2 Civil Case Fee Allocation
  • § 920.6 Budget Committee Withholding Review
  • § 63048.100 Climate Fund Financial Independence
  • § 12176 Secretary Of State Fees

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 63056.
View Official Source