The Ma Squad
Travels in Photos
With Katie Selenski, executive director of CalSavers, which provides private sector workers with access to retirement savings programs through their work places.
Honored to be a part of the CalPERS board.
Housing
New State Tax Credits and Regulation Changes
The California Tax Credit Allocation Committee (CTCAC) administers federal and state low-income housing tax credit programs. Traditionally CTCAC has administered approximately $100 million per year in state tax credits. With the passage this year of AB 101, CTCAC is providing an additional $500 million in state tax credits specifically to target new construction of affordable units beginning in 2020.
Year-End Highlights
2019
Letter from Treasurer Ma
In this “Highlights” report, top-line achievements made by the State Treasurer’s Office (STO) from July through December of 2019 are noted. Accomplishments for the first half of the year were reported at the end of June. The second half of the year went by just as fast as the first six months.
2019 Overview
Legislation
Treasurer Ma actively sponsored legislation during her first year in office with the following signed into law by Governor Newsom in the latter half of the year:
Jobs
Private Activity, Tax-Exempt Bonds
In September, the California Debt Limit Allocation Committee (CDLAC) board, chaired by Treasurer Ma, approved a provisional private activity bond allocation of $300 million for Virgin Trains USA / XpressWest to finance a ground-breaking high-speed rail line that will connect Southern California to Las Vegas. Early projections estimate 10,000 construction jobs and more than 1,200 housing units.
Community Outreach
One priority of the Treasurer’s External Affairs team is to build strong, strategic relationships with groups with missions similar to the Treasurer’s and her programs. This included outreach to Economic Development Corporations and chambers around the state to promote affordable housing, small business incentives, energy efficiency, retrofit financing, and much more. External Affairs also:
Letter from Treasurer Ma
Dear Friends,
The second half of the year went by just as fast as the first six months. In this “Highlights” report, top-line achievements made by the State Treasurer’s Office (STO) from July through December of 2019 are noted. Accomplishments for the first half of the year were reported at the end of June.
Pursuant to state law, the State Treasurer serves as agent for sale on all state bonds. From July to December 15, 2019, the STO sold $8.3 billion of bonds, including: