SB 1007: California Exposition and State Fair: direct deposit: funding.

Existing law establishes an entity in state government called the California Exposition and State Fair and requires the California Exposition and State Fair to be managed by a board of directors. Existing law authorizes the board to establish and maintain a bank checking account or a savings and loan association account, as specified.

This bill would require the state state, as soon as possible, but no later than January 1, 2023, to facilitate transactions via direct deposit by electronic funds transfer if the state allocates moneys to the California Exposition and State Fair, as specified. The bill would also express the intent of the Legislature to subsequently fund an item in the Budget Act of 2022 relating to the California Exposition and State Fair.

This bill would declare that it is to take effect immediately as an urgency statute.