Ed Hernandez voted Yea (Passage) on this Legislation.
Title: Local Government Bankruptcy Restrictions
Vote to pass a bill that restricts local governments from filing for bankruptcy unless they obtain approval from the California Debt and Investment Advisory Commission.
-Requires local public entities to obtain approval from the California Debt and Investment Advisor Commission before filing for bankruptcy protection (Sec. 2). -Allows the California Debt and Investment Advisor Commission to either grant or deny a request to file for bankruptcy protection within 5-30 business days after a public hearing. Also gives the Commission authority to determine the nature and extent of relief granted to a public entity (Sec. 2, 3).
Title: Local Government Bankruptcy Restrictions