With bi-partisan support, the State Senate has passed Assembly Member Chris Holden's AB 359, to simplify airport car rental facility financing.
Under existing law, California airports seeking to finance the construction of large rental car facilities with a customer surcharge must have an independent financial audit every three years during the life of the bond to determine the reasonableness of the fee.
AB 359 will allow airports to submit audits they already perform to satisfy the law.
The measure goes back to the Assembly for approval of amendments before heading to the Governor for his signature.
Source: Holden press release
- Brad Haugaard
No comments:
Post a Comment