(1) The California Credit Union Law provides for the regulation of credit unions by the Commissioner of Business Oversight. This law permits a credit union to make certain investments, including, among others, investing in securities and other specified assets and investments authorized by the commissioner. Under existing law, except as otherwise provided, a willful or knowing violation of this law is a crime. This bill would authorize a credit union to invest in charitable donation accounts or CDAs, which would be a hybrid charitable and investment vehicle satisfying specified conditions. The bill would specify that if a credit union invests in a CDA that satisfies these conditions, then it is not restricted by other investment limitations on credit unions. The bill, among other conditions, would limit the book value of a credit union's investments in all CDAs to no more than 5% of the credit union's net worth, would require the assets of a CDA to be held in a segregated custodial account or special purpose entity, and would require the credit union to distribute a minimum of 51% of the account's total return on assets over a 5-year period to qualified charities, as specified. The bill would also authorize a credit union that is investing to fund an employee benefit plan obligation to purchase an investment that otherwise would be impermissible if the investment is directly related to the credit union's obligation or potential obligations under the employee benefit plan and the credit union holds the investment only for as long as it has an actual or potential obligation under the employee benefit plan. Existing law authorizes a credit union to participate in loans made to its members jointly with other credit unions, corporations, or financial organizations. Existing law also permits a credit union to participate in a loan originated by another credit union, which is made to a member of the originating credit union even though the member is not also a member of the credit union participating in the loan. This bill would instead authorize a credit union to purchase and sell loans made to its members from any source. The bill would also authorize a credit union to purchase a loan originated by another credit union, made to a member of the originating credit union, even though the member is not a member of the credit union purchasing the loan. The bill would also permit a credit union to purchase a loan from any source if the purchase will facilitate the purchasing credit union's packaging of a pool of loans to be sold or pledged on the secondary market. Existing law requires the board of directors of a credit union to establish a written savings capital structure policy that sets out the various terms and conditions upon which credit union shares may be issued, paid for, transferred, and withdrawn. Existing law authorizes the board of directors to declare dividends according to the intervals, formula, and periods provided in the policy. Existing law also requires that the savings capital of a credit union consist of the payments made by members on shares as set forth in the savings capital structure policy. This bill would eliminate those provisions and make related conforming changes. To the extent that the bill would expand the scope of a crime under the California Credit Union Law, the bill would impose a state-mandated local program. (2) The Escrow Law provides for the licensure and regulation of escrow agents by the Commissioner of Business Oversight. This law exempts from its provisions any person doing business under any law of this state or the United States relating to banks, trust companies, building and loan or savings and loan associations, or insurance companies, among others. This bill would also exempt credit unions from that law. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
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Existing law establishes the Office of Small Business Advocate within the Governor's Office of Business and Economic Development, also known as GO-Biz, and prescribes the duties and functions of the Small Business Advocate, who is also the Director of the Office of Small Business Advocate. Among these duties, the director is to serve as the principal advocate in the state on behalf of small businesses and to represent the views and interests of small businesses before other state agencies policies and activities of which may affect small businesses. This bill would require the Small Business Advocate to collaborate with the Office of Small Business and Disabled Veteran Business Enterprise Services in their activities under the Small Business Procurement Act and to post a variety of information related to small business activities on the GO-Biz Internet Web site or the advocate's Internet Web site. Among other things, the bill would require the advocate to be prepared for designation by the Office of Emergency Services to serve as an official liaison between small businesses impacted by a state of emergency and other government and nonprofit service providers and to assist in the state emergency recovery, response, and preparedness efforts related to small businesses. The bill would eliminate the duty of the Office of Small Business Advocate to post information on its Internet Web site regarding small business financial development and the efficient use of energy, as specified.
This measure would encourage the Legislature to engage in a coordinated effort to revise existing statutes and introduce new legislation with inclusive language by using gender-neutral pronouns or reusing nouns to avoid the use of gendered pronouns. The measure would also encourage state agencies to engage in similar efforts to use gender-neutral pronouns and avoid the use of gendered pronouns when drafting policies, regulations, and other guidance.
This measure would declare November 9, 2018, and each November 9 thereafter, as Dosan Ahn Chang Ho Day.
This measure would urge the President and the Congress of the United States to maintain the integrity of the Consumer Financial Protection Bureau to carry out its duties as intended to effectively protect consumers from abusive financial products and practices.
This measure would proclaim June 21, 2018, as Asking Saves Kids Day.
This measure would call on our state Congressional Representatives to voice their concerns on the proposed fiscal cuts to programs created by the federal Housing and Community Development Act. The measure would also call on the President of the United States and the Secretary of Housing and Urban Development to protect and these programs, to veto any legislation to do so, and to work with the Congress to further protect these programs.
This measure would state that the Legislature strongly and unequivocally supports the existing fuel economy and greenhouse gas emissions standards and California's federal Clean Air Act waivers; will consider any and all appropriate actions to maintain vehicle emissions standards for the protection of public health, California residents, and the economy; and strongly urges the President and Vice President of the United States, the Secretary of the United States Department of Transportation, and the Administrator of the United States Environmental Protection Agency to reject the Safer and Affordable Fuel Efficient Vehicles Proposed Rule for Model Years 2021–2026.
Existing law authorizes the Commission on Teacher Credentialing to issue various types of teaching and services credentials, including preliminary and clear multiple and single subject teaching credentials. The commission is also authorized to issue emergency teaching and specialist permits that correspond to specified credential types. Existing regulations provide for procedures by which the commission may issue an Emergency 30-Day Substitute Teaching Permit authorizing the holder to substitute teach, as provided. Existing regulations also authorize a local employing agency to request from the commission that the Teaching Permit for Statutory Leave be used when a teacher of record is unable to provide services due to a statutory leave, as provided. This bill would require the commission, through a stakeholder process, to determine whether there is a need to provide a person who holds an Emergency 30-Day Substitute Teaching Permit, who is otherwise qualified to receive a Teaching Permit for Statutory Leave, expanded pathways for meeting the requirements of the Teaching Permit for Statutory Leave, and to make regulatory changes as necessary, on or before July 1, 2019.