-- Last revised 11/12/02 --
Municipal Bankruptcy - Study D-1100
The Law Revision Commission recommended a number of revisions to
update California statutes authorizing bankruptcy filings by local
public entities under Chapter 9 of the federal Bankruptcy Code.
Consistent with the approach historically taken in California, the
general statute would authorize municipal bankruptcy filings to the full
extent permissible under federal law, subject to any special statutory
rules applicable to particular entities. The Commission's recommendation was enacted by the
Legislature. See below.
The Commission studied broader substantive reforms, including proposals to require prefiling approval by the Governor or a governmental committee, and to provide for postfiling review by appropriate state authorities. However, there does not appear to be any general agreement on the best approach to reform, or even as to the need for additional protections or controls. Accordingly, the Commission is not recommending any broader substantive reforms at this time.
If you have questions or comments on this study, send email to Brian Hebert at firstname.lastname@example.org.
2002: Senate Bill 1323 (Ackerman) -- Bill information at Legislative Counsel's website
Enacted. 2002 Cal. Stat. ch. 94
- Recommendation -- Municipal Bankruptcy (11/15/2001)
Tentative Recommendations and Other Requests for Comment
- Tentative Rec. -- Municipal Bankruptcy (September 2001)
- Memo 2001-86 -- Municipal Bankruptcy (Comments on Tentative Recommendation) (11/7/2001)
- Memo 2001-65 -- Municipal Bankruptcy (Draft of Tentative Recommendation) (8/20/2001)
- Memo 2001-32, Supp. 1 -- Municipal Bankruptcy (Letter) (3/28/2001)
- Memo 2001-32 -- Municipal Bankruptcy (Discussion of Issues) (3/20/2001)
- Memo 2000-66 -- Municipal Bankruptcy (Discussion of Issues) (9/29/2000)
- Memo 2000-38, Supp. 1 -- Municipal Bankruptcy (Kevane Letter) (6/21/2000)
- Memo 2000-38 -- Municipal Bankruptcy: Consultant's Study (5/1/2000)
- Memo 97-19 -- Bankruptcy Code: Chapter 9 Issues (3/22/97)
- Background Study -- California Municipal Bankruptcy Legislation (March 2000)
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