Boards, Authorities and Commissions
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 California’s ScholarShare 529 plans formed educational opportunities for the state’s students. Contributions to an ABLE account, currently limited to $18,000 per year, can be made by family, friends, or the beneficiary themselves. The account’s earnings are allowed to accumulate tax-free, and the withdrawals, provided they are applied to qualifying disability expenses, are tax-free.
Thomas Martin, 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.
Shela Tobias-Daniel, Interim 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.
Robert Berry, 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.
Nancee Robles, Interim 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.
Carolyn Aboubechara, Interim 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 a number of grant programs for small and rural health facilities, children’s hospitals, mental health programs, and for jail diversion.
Carolyn Aboubechara, Executive Director, (916) 653-2799 - 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."
Shela Tobias-Daniel, 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 - CalSavers Retirement Savings Board (CalSavers)
CalSavers promotes greater retirement savings for California’s 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.
Nancee Robles, Executive Director (916) 654-6340 - 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.
Tracey Paine, Administrator (916) 653-3147 - ScholarShare Investment Board (SIB)
Sets investment policies and oversees all activities for ScholarShare 529, California's tax-advantaged college savings plan, which enables Californians to invest and save for future higher education expenses with federal and state tax-free benefits. As of June 30, 2024, ScholarShare has more than 435,000 open accounts and more than $14 billion invested.
Cassandra DiBenedetto, Executive Director
Program Information: Toll Free (800) 544-5248
Administration: (916) 651-6380