Economic Crime Act of 1992: reenactment.

Provisions of law known as the Economic Crime Act of 1992 provided for specified limitations with respect to probation for, the imposition of specified restitution orders on, and a surcharge on a defendant convicted of a felony for theft of an amount exceeding $50,000. The Economic Crime Act of 1992 was repealed by its own terms on January 1, 2008. This bill would reenact those provisions and provide for their repeal on January 1, 2019, unless a later enacted statute, enacted before January 1, 2019, deletes or extends the date. Because this bill would impose additional duties on local officials, it would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that with regard to certain mandates no reimbursement is required by this act for a specified reason. With regard to any other mandates, this bill would provide that, if the Commission on State Mandates determines that the bill contains costs so mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above. This bill would declare that it is to take effect immediately as an urgency statute.