Asm. Martin Garrick

This measure would continue designation and observance of the month of October as Italian American Heritage Month. This measure would also encourage the Legislature to continue the Italian American Legislator Project and welcome the exhibit "The Italian American Legislator Project of 2011: A Legacy of Service to the California Legislature" to the State Capitol Building in October 2011 and encourage all Californians, through the K–12 curriculum and otherwise, to learn about the history, role, and contributions of Italian Americans to the State of California.

Existing law provides for the formation and governance of corporations. Existing law allows a corporation to make a distribution of cash or property to shareholders, including a dividend or a repurchase or redemption of shares, only if either the corporation has retained earnings prior to the distribution equal to or exceeding the amount of the distribution or the corporation can satisfy specified balance sheet test and liquidity requirements after giving effect to the distribution, and the distribution will not render the corporation insolvent. This bill would allow a corporation to distribute cash or property to shareholders, including a dividend or repurchase or redemption of shares, if the amount of the corporation's retained earnings prior to the distribution equals or exceeds the sum of the distribution and the cumulative dividends in arrears on certain preferred stock and, after giving effect to the distribution, the value of the corporation's assets equals or exceeds the sum of its liabilities and the liquidation preference of any preferred stock, except as specified. The bill would provide that a board of directors may base a determination that the value of its assets exceeds the amount of liabilities on financial statements prepared on the basis of accounting practices and principles that are reasonable in the circumstances, a fair valuation, or any other method that is reasonable under the circumstances. Existing law provides that a shareholder who knowingly receives an improper distribution is liable to the corporation's creditors and holders of preferred shares, as specified, and that those parties may bring suit in the name of the corporation to enforce those liabilities. This bill would provide that holders of shares having preferential rights with respect to cumulative dividends in arrears shall not have the right to bring suit with respect to an improper distribution unless the amounts owed those holders, as specified, is greater than zero. The bill would also provide that a cause of action with respect to an obligation to return an improper distribution shall be extinguished unless brought within 4 years of the distribution date. Existing law requires a corporation to provide notice, as specified, to shareholders, with respect to a dividend other than one chargeable to retained earnings, stating that the dividend is being made from a source other than retained earnings, and stating the accounting treatment of the dividend. This bill would eliminate that requirement. The bill would make technical, conforming amendments.

Existing law establishes the various segments of the public higher education system in the state. These segments include the University of California, which is administered by the Regents of the University of California, the California State University, which is administered by the Trustees of the California State University, and the California Community Colleges, which is administered by the Board of Governors of the California Community Colleges. This bill would require that by January 1, 2014, and every 2 years thereafter, the Trustees of the California State University and the Board of Governors of the California Community Colleges, and request the Regents of the University of California, report to the Legislature on workload and key performance data on distance learning courses, as defined. This bill would, by February 1, 2012, also require the Legislative Analyst's Office to convene a work group composed of the Legislative Analyst, specified staff of the Legislature, and the Department of Finance to evaluate whether it is necessary, or advisable, to establish the Western Governors University, California. The work group would be required to consult with representatives of the University of California, the California State University, the California Community Colleges, the California Postsecondary Education Commission, independent California colleges and universities, and the Western Association of Schools and Colleges. The work group would, by February 1, 2013, be required to report its findings and recommendations to the Legislature. These provisions would be repealed on January 1, 2018. The bill would state the intent of the Legislature relating to the Western Governors University, California, as a degree-granting institution that is self-supporting and does not receive state funding.

Existing law requires that a vote by mail ballot be received by the issuing elections official or the precinct board no later than the close of polls on election day. This bill would make an exception for special absentee voters, as defined, temporarily living outside of the territorial limits of the United States and the District of Columbia and would instead require that their vote by mail ballots be postmarked on or before election day and received by their elections officials not later than 10 days after election day. Because the bill would impose additional duties on elections 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, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to these statutory provisions.

This measure would proclaim May 2011 as Buy California Small Business First Month.

This measure would proclaim July 27, 2011, as Korean War Veterans Armistice Day. It would urge Californians to remember the Korean War and those who fought against communism. It would also urge Governor Jerry Brown to proclaim July 27, 2011, as Korean War Armistice Day and instruct all state departments, agencies, interested groups, organizations, and individuals to fly the United States flag at half-mast on July 27, 2011, in memory of the veterans who died as a result of their service in Korea.

Existing law provides that the presidential primary election is to be held on the first Tuesday in February of those years in which a national presidential election is to be held. This bill would change the date of the presidential primary election to the first Tuesday after the first Monday in June of presidential election years and would consolidate the presidential primary election with the statewide direct primary election.

Existing law authorizes a thoroughbred racing association or fair to distribute the audiovisual signal and accept wagers on the results of out-of-state thoroughbred races conducted in the United States during the calendar period the association or fair is conducting a race meeting, as specified, without the consent of the organization that represents horsemen participating in the race meeting and without regard to the amount of purses. Existing law prohibits the total number of thoroughbred races imported by associations or fairs on a statewide basis, as specified, from exceeding 32 per day on days when live thoroughbred or fair racing is being conducted in the state. Certain well-known races are excluded from this limitation, including the Kentucky Derby and the Belmont Stakes. This bill would increase that limit on the total number of races from 32 to 50. This bill would declare that it is to take effect immediately as an urgency statute.