AB 279 California Assembly · 2013-2014 Regular Session

Financial affairs.

Summary

Existing law prescribes the instruments in, and criteria by which, a local agency, as defined, may invest and deposit its funds, including its surplus funds. Existing law authorizes a local agency to invest in certificates of deposit provided that they do not exceed 30% of the agency's funds that may be invested for this purpose, as specified. This bill would, until January 1, 2017, remove the term "certificates of deposit" and instead authorize a local agency to invest in deposits, as specified, and limit the amount of its funds that an agency may place with any one private sector entity that assists in the placement of deposits with one or more commercial banks, savings banks, savings and loan associations, or credit unions that are located in the United States. The bill would prescribe requirements for the financial institutions that a private sector entity is authorized to use.

Bill status signed all 5 stages cleared

Introduction

Feb 2013

Committee Review

Aug 2013

Assembly Passage

Apr 2013

Senate Passage

Jul 2013

Signed into Law

Sep 2013

Introduced Feb 11, 2013 Signed Sep 6, 2013

Floor votes · Senate Jul 8, 2013 · Assembly Aug 19, 2013

How they voted

31–0

Passed · 3 other

Total votes 34

Jul 8, 2013

D Democratic25

22 Yea 3

88% Yea

R Republican9

9 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Sep 6, 2013

Signed into law

Approved by the Governor.

legislature

Aug 19, 2013

Assembly · Passed

Assembly Vote: pass (62-0-1)

assembly

Aug 19, 2013

Lower · Passed

Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 0. Page 2576.).

lower

Aug 5, 2013

Introduced

In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 7 pursuant to Assembly Rule 77.

lower

Jul 8, 2013

Senate · Passed

Senate Vote: pass (31-0-3)

senate

Jun 25, 2013

Upper · Passed

From committee: Do pass as amended. (Ayes 9. Noes 0.) (June 19).

upper

Jun 11, 2013

Upper · Passed

Read second time and amended. Re-referred to Com. on B. & F.I.

upper

Jun 10, 2013

Upper · Passed

From committee: Do pass as amended and re-refer to Com. on B. & F.I. (Ayes 7. Noes 0.) (June 5).

upper

May 29, 2013

Introduced

From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on GOV. & F.

upper

May 8, 2013

Upper · Passed

In committee: Set, first hearing. Hearing canceled at the request of author.

upper

Apr 25, 2013

Committee

Referred to Coms. on GOV. & F. and B. & F.I.

upper

Apr 9, 2013

Lower · Passed

From committee: Do pass. To consent calendar. (Ayes 12. Noes 0.) (April 8).

lower

Apr 4, 2013

Lower · Passed

From committee: Do pass and re-refer to Com. on B. & F. (Ayes 9. Noes 0.) (April 3). Re-referred to Com. on B. & F.

lower

Apr 1, 2013

Committee

Re-referred to Com. on L. GOV.

lower

Mar 21, 2013

Introduced

From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.

lower

Feb 21, 2013

Committee

Referred to Com. on L. GOV.

lower

Feb 12, 2013

Lower · Passed

From printer. May be heard in committee March 14.

lower

1 primary · 0 co-sponsors