AB 621 California Assembly · 2013-2014 Regular Session

Local government: bonds.

Summary

Existing law prohibits an investment firm, as defined, from having specified interests in a new issue of bonds from a local agency. This bill would prohibit a local agency from entering into a financial advisory, legal advisory, underwriting, or similar relationship with an individual or firm, with respect to a bond issue that requires voter approval on or after January 1, 2014, if that individual or firm provided or will provide bond campaign services to the bond campaign. The bill would specifically exempt from that prohibition a relationship between a local agency and an individual or firm entered into before the public agency takes action to place a new issue of bonds on the ballot for voter approval on or after January 1, 2014. The bill would also prohibit a local agency from entering into an underwriting relationship with an individual or firm, with respect to a new issue of bonds that requires voter approval on or after January 1, 2014, if the local agency has a financial advisory relationship with that individual or firm with respect to the same issue of bonds. The bill would define certain terms for those purposes.

Bill status failed 3 of 5 stages cleared

Introduction

Feb 2013

Committee Review

Jun 2014

Assembly Passage

May 2013

Senate Passage

Governor

Introduced Feb 20, 2013 Last action Jun 25, 2014

Floor votes · Assembly May 13, 2013

How they voted

43–9

Passed · 17 other

Total votes 69

May 13, 2013

D Democratic48

23 Yea 9 Nay 16

47% Yea

R Republican21

20 Yea 1

95% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 25, 2014

Upper · Passed

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

upper

Feb 24, 2014

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

Jul 3, 2013

Upper · Passed

In committee: Held without recommendation.

upper

Jun 17, 2013

Upper · Passed

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

upper

Jun 10, 2013

Upper · Passed

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

upper

Jun 4, 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 23, 2013

Committee

Referred to Com. on GOV. & F.

upper

May 13, 2013

Assembly · Passed

Assembly Vote: pass (43-9-17)

assembly

May 8, 2013

Lower · Passed

From committee: Do pass. (Ayes 7. Noes 0.) (May 7).

lower

Apr 29, 2013

Committee

Re-referred to Com. on E. & R.

lower

Apr 25, 2013

Introduced

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

lower

Apr 18, 2013

Lower · Passed

From committee: Do pass and re-refer to Com. on E. & R. (Ayes 7. Noes 2.) (April 17). Re-referred to Com. on E. & R.

lower

Mar 20, 2013

Committee

Re-referred to Com. on L. GOV.

lower

Mar 19, 2013

Introduced

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

lower

Mar 19, 2013

Committee

Referred to Coms. on L. GOV. and E. & R.

lower

Feb 21, 2013

Lower · Passed

From printer. May be heard in committee March 23.

lower

1 primary · 2 co-sponsors