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The California Infrastructure and Economic Development Bank (I-Bank) was created in 1994 to promote economic revitalization, enable future development, and encourage a healthy climate for jobs in California. The I-Bank operates pursuant to the Bergeson-Peace Infrastructure and Economic Development Bank Act (pdf, 157k) contained in the California Government Code Sections 63000 et seq. The I-Bank is located within the Business, Transportation and Housing Agency and is governed by a five-member Board of Directors.
The I-Bank has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, and leverage State and Federal funds. The I-Bank's current programs include the Infrastructure State Revolving Fund (ISRF) Program and several revenue bond financing programs.