California 2023-2024 Regular Session Status: In Committee 3 R cosponsors

SB 300 — Public employees' retirement: fiscal impact: information.

Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023-2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

The California Constitution grants the retirement board of a public retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the system. The California Constitution qualifies this grant of powers by reserving to the Legislature the authority to prohibit investments if it is in the public interest and the prohibition satisfies standards of fiduciary care and loyalty required of the public retirement system's board. Existing law establishes the Joint Legislative Budget Committee to ascertain facts and make recommendations to the Legislature and to the houses thereof concerning the state budget, the revenues and expenditures of the state, the organization and functions of the state, its departments, subdivisions and agencies, and such matters as may be provided for in the Joint Rules of the Senate and Assembly, and grants the committee the authority to appoint a legislative analyst who is also referred to as the Legislative Auditor or Legislative Analyst. This bill would require the Legislative Analyst to prepare a pension fiscal impact analysis on any measure introduced on or after January 1, 2024, that is referred to the Senate Labor, Public Employment and Retirement Committee, or any successor committee, as specified, and that requires a public retirement system to take prescribed action, including the divestiture of an existing investment. The bill would require the California Actuarial Advisory Panel and the affected public retirement system to provide assistance to the Legislative Analyst in preparing the analysis. By requiring the boards of local public retirement systems to take specified actions, this bill would impose a state-mandated local program. The bill would require the Legislative Analyst to develop specified criteria, including, at a minimum, the likely short-term and long-term costs to the General Fund, as prescribed. This bill would prohibit a member of the Legislature from presenting any measure for which the Legislative Analyst must prepare a pension fiscal impact analysis under the bill's provisions until the Legislative Analyst posts the completed analysis on its website and transmits it to the legislative committee. 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 shall be made pursuant to these statutory provisions for costs mandated by the state pursuant to this act, but would recognize that a local agency or school district may pursue any available remedies to seek reimbursement for these costs.

Bill Text

Action History

  1. Returned to Secretary of Senate pursuant to Joint Rule 56.

  2. May 18 hearing: Held in committee and under submission.

  3. Set for hearing May 18.

  4. May 15 hearing: Placed on APPR suspense file.

  5. Set for hearing May 15.

  6. Read second time and amended. Re-referred to Com. on APPR.

  7. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 897.) (April 26).

  8. Set for hearing April 26.

  9. Referred to Coms. on L., P.E. & R. and APPR.

  10. From printer. May be acted upon on or after March 5.

  11. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 3 co-sponsors · 118 not signed on

Sponsors (1)

Co-sponsors (3)

Not signed on (118)

118 members have not signed on to this bill.

Show all 118 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 300 do?
The California Constitution grants the retirement board of a public retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the system. The California Constitution qualifies this grant of powers by reserving to the Legislature the authority to prohibit investments if it is in the public interest and the prohibition satisfies standards of fiduciary care and loyalty required of the public retirement system's board. Existing law establishes the Joint Legislative Budget Committee to ascertain facts and make recommendations to the Legislature and to the houses thereof concerning the state budget, the revenues and expenditures of the state, the organization and functions of the state, its departments, subdivisions and agencies, and such matters as may be provided for in the Joint Rules of the Senate and Assembly, and grants the committee the authority to appoint a legislative analyst who is also referred to as the Legislative Auditor or Legislative Analyst. This bill would require the Legislative Analyst to prepare a pension fiscal impact analysis on any measure introduced on or after January 1, 2024, that is referred to the Senate Labor, Public Employment and Retirement Committee, or any successor committee, as specified, and that requires a public retirement system to take prescribed action, including the divestiture of an existing investment. The bill would require the California Actuarial Advisory Panel and the affected public retirement system to provide assistance to the Legislative Analyst in preparing the analysis. By requiring the boards of local public retirement systems to take specified actions, this bill would impose a state-mandated local program. The bill would require the Legislative Analyst to develop specified criteria, including, at a minimum, the likely short-term and long-term costs to the General Fund, as prescribed. This bill would prohibit a member of the Legislature from presenting any measure for which the Legislative Analyst must prepare a pension fiscal impact analysis under the bill's provisions until the Legislative Analyst posts the completed analysis on its website and transmits it to the legislative committee. 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 shall be made pursuant to these statutory provisions for costs mandated by the state pursuant to this act, but would recognize that a local agency or school district may pursue any available remedies to seek reimbursement for these costs.
Who sponsors SB 300?
SB 300 is sponsored by Seyarto, Kelly (Republican), Niello, Roger W. (Republican), Ochoa Bogh, Rosilicie (Republican), and Wilk.
What is the current status of SB 300?
This bill died with 2023-2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 300?
Track SB 300 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 300

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of SB 300

Last checked for changes 2 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →