The Treasurer's Office plays a central administrative role to numerous State Boards, Authorities and Commissions. The Treasurer serves as chair or member of these various agencies that organizationally report to the State Treasurer's Office. Many of these agencies are authorized to issue debt for specific purposes as permitted by law. These agencies also may advise California municipalities on debt issuance and oversee the State's various investment operations.
- California Achieving a Better Life Experience Act Board (CalABLE)
Allows qualified individuals with disabilities and their families to open tax-free savings accounts without the worry of losing vital government assistance. The CalABLE program in California will open up life-improving opportunities for people with disabilities and their families in much the same way Californiaís ScholarShare 529 plans formed educational opportunities for the stateís students. Contributions to an ABLE account, currently limited to $14,000 per year, can be made by family, friends, or the beneficiary themselves. The accountís earnings are allowed to accumulate tax-free, and the withdrawals, provided they are applied to qualifying disability expenses, are tax-free.
Dante Allen, Executive Director (916) 653-1728
- California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA)
Provides financing for energy resources that use alternative methods of generation which minimize environmental degradation and promote resource conservation. CAEATFA also finances transportation technologies that conserve energy, reduce air pollution, and promote economic development and jobs.
Deana Carrillo, Executive Director (916) 651-8157
- California Debt and Investment Advisory Commission (CDIAC)
Provides policy guidance and oversight with respect to public debt and investment activities. It serves as the State's clearinghouse for information on public debt issuance and local investment practices. CDIAC also undertakes educational efforts throughout the State on matters such as public finance, economic development and community revitalization.
Mark Campbell, Executive Director (916) 653-3269
- California Debt Limit Allocation Committee (CDLAC)
Allocates California's $3.1 billion in annual tax-exempt, low-cost financing for private projects of public benefit — such as single family home mortgages, affordable multi-family housing, industrial development projects, environmental clean-up efforts and student lending.
Laura Whittall-Scherfee, Executive Director (916) 653-3255
- California Educational Facilities Authority (CEFA)
Issues revenue bonds to assist accredited post-secondary private institutions in the expansion and construction of educational facilities through lower-cost financing. The authority also administers low-interest student loan programs and an academic assistance grant program for low-income students.
Ronald Washington, Acting Executive Director (916) 653-2872
- California Health Facilities Financing Authority (CHFFA)
Provides financial assistance to public and non-profit health care providers through loans funded by the issuance of tax-exempt revenue bonds. CHFFA financing may be used for the construction and renovation of new or existing health care facilities, the purchase of equipment, or the refinancing or refunding of prior debt. CHFFA also operates a direct-loan program called HELP II, which provides low-cost loans to community-based and rural health clinics, and administers the Children's Hospital Program which provides bond financing to assist the State's children's hospitals with capital projects and equipment purchases. CHFFA also administers the Community Clinic Grant Program of 2005, a $35 million grant program for community clinics.
Ronald L. Washington, Executive Director (916) 653-2799
- California Healthy Food Financing Initiative Council (CHFFIC)
The California Healthy Food Financing Initiative Council (CHFFIC) was established in October 2011 when the Governor signed Assembly Bill (AB) 581. CHFFIC is a public-private partnership program that was created to increase access to healthy foods in underserved, urban, and rural communities and inspire innovation in healthy food retailing. The CHFFIC Fund within the State Treasurerís Office will provide financing for grocery stores and other forms of healthy food retail and distribution by providing capital to eligible applicants.
- California Industrial Development Financing Advisory Commission (CIDFAC)
Approves the issuance of Industrial Development Bonds (IDBs) and Empowerment Zone (EZ) Bonds as a partner with local government. The local government entity can be a city, county, economic development authority, redevelopment agency, or a joint power authority. IDBs and EZ Bonds are issued by the local entity, but must be approved by CIDFAC, which issues the Certificate-of-Sale. The program is intended to benefit economically distressed areas and to provide an alternate method of financing capital needs of small manufacturing companies to increase employment or otherwise contribute to economic development.
- California Pollution Control Financing Authority (CPCFA)
Provides financing for pollution control facilities to aid in meeting environmental standards. CPCFA also administers the California Capital Access Program (CalCAP), which has helped over 7,000 small-business borrowers obtain over $1 billion in loans since 1994; the Sustainable Communities Grant and Loan Program which assists communities implementing "smart growth strategies" and the Cal ReUSE program which offers low-interest, forgivable loans to assist public and private partners in redeveloping contaminated "brownfields."
Reneť Webster-Hawkins, Executive Director (916) 654-5610
- California School Finance Authority (CSFA)
Provides tax-exempt, low-cost financing to school districts, community college districts and charter schools to assist in the repair and construction of school facilities and provide working capital. CSFA also administers two charter school facilities programs: 1) the State's Charter School Facilities Program and 2) the federal State Charter Schools Incentive Grants Program. Funded through two statewide school facilities bond measures, the Charter School Facilities Program has awarded approximately $400 million in funding to thirty-four charter schools to construct or renovate facilities. The federally-funded $50 million State Charter Schools Incentive Grants Program awards funds to assist charter schools with lease or construction costs for charter school facilities.
Katrina Johantgen, Executive Director (916) 651-7710
- California Secure Choice Retirement Savings Investment Board (Overseeing the CalSavers Retirement Savings Program)
CalSavers promotes greater retirement savings for Californiaís private-sector workers who currently lack access to employer-sponsored retirement plans by providing access to a voluntary, low-risk, low-cost, portable retirement savings program.
Katie Selenski, Executive Director (916) 653-1744
- California Tax Credit Allocation Committee (CTCAC)
Administers a federal and state program, which provides hundreds of millions of dollars of investment in affordable rental housing for lower-income families and individuals. Federal and state tax credits, allocated by the Committee, assist in the creation and preservation of affordable housing by enabling affordable housing sponsors to raise project equity through the sale of tax benefits to investors.
Mark Stivers, Executive Director (916) 654-6340
- California Transportation Financing Authority (CTFA)
The Governor on October 11, 2009 signed AB 798, creating the California Transportation Financing Authority (CTFA) within the State Treasurerís Office. The statute authorizes the CTFA to issue, or approve the issuance of, revenue bonds to finance transportation projects. The CTFA will review proposed projects to ensure they are financially sound, and has the ability to approve tolls as part of the financing plans to repay revenue bonds.
- The Local Investment Advisory Board (LIAB)
Provides oversight to the Local Agency Investment Fund (LAIF), which accords local agencies the opportunity to participate in the Pooled Money Investment Account.
Kim McCorstin, LAIF Administrator (916) 653-3001
- Pooled Money Investment Board (PMIB)
The Pooled Money Investment Account invests monies on behalf of State government and local jurisdictions.
Jeff Wurm, Administrator (916) 653-3147
- ScholarShare Investment Board (SIB)
Sets investment policies and oversees all activities for the Golden State ScholarShare College Savings Trust, California's tax-advantaged college tuition savings plan, which enables Californians to invest and save for college education with state and federal tax-free benefits. As of December 31, 2013, ScholarShare has 249,000 open accounts and $5.56 billion invested.
Julio Martinez, Executive Director
Program Information: Toll Free (800) 544-5248
Administration: (916) 651-6380