Assemblyman Ted Lieu was recently appointed by Assembly Speaker Karen Bass to serve on the California Debt and Investment Advisory Commission (CDIAC).
“I am honored to receive this important appointment,” said Lieu. “I look forward to working with CDIAC members and staff during these challenging times to use all the tools we have available to help our state’s economy.”
The California Debt and Investment Advisory Commission is charged with providing information, education, and technical assistance on debt issuance and public fund investments to local public agencies and other public finance professionals.
The commission seeks to improve the market for, and the marketability of, public debt issued in California, according to a Lieu spokesman.
The body also has the critical mission of assisting on matters related to the investment of public funds and economic development financing tools.
“The information and advice provided by the California Debt and Investment Advisory Commission is more important than ever,” said Bass. “Assemblyman Ted Lieu has proven to be a strong watchdog and advocate for the public, and I know he will provide valuable service on this commission.”
In order to carry out its mission of increasing the marketability of public debt, improving the performance of public investments, and strengthening economic development financing tools, the commission engages in a wide range of activities and functions, according to Lieu’s spokesman. These include data collection, policy research, and providing assistance to public agencies.
For example, the California Debt and Investment Advisory Commission maintains the most comprehensive database of California debt issuance in existence, says a Lieu spokesman.
All issuers of state and local government debt are required to submit information to the commission 30 days prior to the proposed sale date. The commission also responds to over 2,000 requests for information or assistance each year on matters related to debt issuance, investments, and economic development.
The California Debt and Investment Advisory Commission consists of nine members, including the state treasurer, the governor or the director of finance, the state controller, two local government finance officials, two Assembly members, and two state senators, according to the spokesman.
Information about the California Debt and Investment Advisory Commission, www.treasurer.ca .gov/cdiac/.