ALAMEDA, Calif. — A bill to limit the ability of California local governments to file for bankruptcy expired Tuesday in the last-minute frenzy that marked the end of the regular 2010 session for the state’s stalemated Legislature.

Gov. Arnold Schwarzenegger now has hundreds of bills awaiting action on his desk before the end of September — including one that would permit issuers to securitize federal subsidy payments they receive for Build America Bonds. His second and final term ends in January.

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