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Committee advances bill to create Golden State Infrastructure Fund for large projects
Summary
SB 769 would create a revolving fund to invest in large, cross‑jurisdictional infrastructure projects through public‑private finance; the committee advanced the bill to appropriations.
The Assembly committee on July 11, 2025 voted to send SB 769 to the Appropriations Committee. Authored by Senator Caballero, the bill would establish the Golden State Infrastructure Fund, a revolving financing vehicle intended to support large infrastructure projects across California by enabling debt and equity‑like investments and leveraging public‑private partnerships.
Connie Chan, on behalf of State Treasurer Fiona Ma, described the fund as a flexible financing mechanism to help the state address aging roads, water systems and other capital needs without imposing new taxes or fees. "SB 7 69 creates the Golden State Infrastructure Fund, a new financing mechanism that allows the state to make both debt and equity like investments in critical state infrastructure projects," Chan said.
Support came from the treasurer’s office, Pacific Gas & Electric and the Rural County Representatives of California, and a previously recorded opposition noted it had removed its opposition. Committee members emphasized transparency and accountability, referencing Bagley‑Keene and other public‑meeting requirements; the bill passed out of committee with a recorded vote (reported as 6‑0 in the committee secretary’s final tally). SB 769 now goes to Appropriations for fiscal review.
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