Financial institutions.
Summary
Existing law requires banks to deposit specified securities, which include, among other things, specified letters of credit issued by the Federal Home Loan Bank of San Francisco, with the Treasurer in order to be eligible to receive and retain demand or time deposits of state funds. This bill would instead include letters of credit issued by any Federal Home Loan Bank.
Bill status
passed
3 of 5 stages cleared
Introduction
Feb 2012
Committee Review
Jun 2012
Assembly Passage
May 2012
Senate Passage
Governor
Introduced Feb 24, 2012
Last action Jun 27, 2012
Floor votes · Assembly May 7, 2012
How they voted
67–0
Passed · 3 other
Total votes 70
May 7, 2012
D
Democratic44
93% Yea
R
Republican26
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
16
Key actions
6
Committee
8
Jun 27, 2012
Upper · Passed
In committee: Set, second hearing. Hearing canceled at the request of author.
upper
Jun 14, 2012
Upper · Passed
In committee: Set, first hearing. Hearing canceled at the request of author.
upper
May 23, 2012
Upper · Passed
In committee: Hearing postponed by committee.
upper
May 17, 2012
Committee
Referred to Com. on B. & F.I.
upper
May 7, 2012
Assembly · Passed
Assembly Vote: pass (67-0-3)
assembly
May 1, 2012
Lower · Passed
From committee: Do pass. (Ayes 11. Noes 0.) (April 30).
lower
Apr 9, 2012
Committee
Re-referred to Com. on B. & F.
lower
Mar 29, 2012
Committee
Referred to Com. on B. & F.
lower
Feb 26, 2012
Lower · Passed
From printer. May be heard in committee March 27.
lower
Feb 24, 2012
Introduced
Introduced. To print.
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Mike Morrell
RRepublican
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