California 20252026 Regular Session Status: Introduced 1 D cosponsors

AB 2335 — Unclaimed property: digital financial assets.

Last action — In committee: Held under submission.

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

This bill has been introduced in the Assembly. Introduced February 19, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 28% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 6 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill sets rules for managing unclaimed digital financial assets by the state.

This bill outlines how unclaimed digital financial assets escheat to the state, creating accounts for their management and investment. It specifies processes for owners to claim their assets and how unclaimed assets are handled.

What this means for you
  • Consumers: If you own digital financial assets and do not claim them, the state may liquidate them after a certain time.

Summary

(1) The Unclaimed Property Law (UPL) prescribes the circumstances under which intangible property, including digital financial assets, escheats to the state, including how and when apparent owners must be notified that their property is at risk of escheating and the manner in which escheated property must be delivered to the State Controller. Existing law also requires that business associations holding a financial asset that is potentially subject to escheatment provide notice to the owners of that asset as specified. This bill would establish mechanisms for the management of digital financial assets, as defined, that escheat to the state. The bill would create the Digital Asset Claims Reserve Account and the Digital Asset Reserve Fund for these purposes. The bill would require the Controller to hold an escheated digital financial asset in its native form no earlier than 18 months and no later than 20 months after it is reported to the Controller by the holder of the asset, and, if it is not claimed by the owner within that time, to liquidate the asset and deposit the net proceeds in the Digital Asset Claims Reserve Account. The bill would require the Treasurer to invest moneys in the Digital Asset Claims Reserve Account pursuant to the Treasurer's existing authority to invest surplus money. The bill would require the Controller to transfer all interest, earnings, and investment income credited to the Digital Asset Claims Reserve Account to the Digital Asset Reserve Fund on a quarterly basis. The bill would create the Digital Asset Reserve Board, which would be assigned specified tasks relating to administration of the Digital Asset Reserve Fund, including establishing investment policies to be followed by the Controller when investing moneys in the fund by converting them into high-quality digital assets. The bill would authorize the Controller to take specified actions related to digital financial assets and would require the Controller to publish a quarterly report, as specified. Under the bill, a person who makes a valid claim before the disposition of the digital financial assets is entitled to receive the digital financial assets in their native form or in fiat currency, as specified, or in cash if the digital financial assets were liquidated. The bill would authorize the Controller to use assets within the Digital Asset Reserve Fund to pay for the administration and management of the fund, thereby making an appropriation. (2) Under existing law, a person holding funds or other property escheated to the state must file a report with the Controller and pay or deliver the escheated property to the Controller within a specified time, unless another person establishes their right to the property. Existing law requires any payment to the Controller of at least $2,000 in unclaimed cash to be made by electronic funds transfer. The bill would permit the Controller to direct the holder of a digital financial asset to sell or to otherwise liquidate the digital financial asset and deliver the net proceeds in lieu of the native digital financial asset, as specified. The bill would require a holder of funds or other property escheated to the state that is directed to sell or liquidate the digital financial asset to do so for no less than the prevailing market price of the digital financial asset at the time of sale.

Bill Text

Action History

  1. In committee: Held under submission.

  2. In committee: Referred to APPR. suspense file.

  3. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (June 30).

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

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

  6. Referred to Com. on JUD.

  7. In Senate. Read first time. To Com. on RLS. for assignment.

  8. Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0.)

  9. Read second time. Ordered to third reading.

  10. Read second time and amended. Ordered returned to second reading.

  11. From committee: Amend, and do pass as amended. (Ayes 11. Noes 0.) (May 14).

  12. In committee: Set, first hearing. Referred to APPR. suspense file.

  13. Re-referred to Com. on APPR.

  14. Read second time and amended.

  15. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 20).

  16. Re-referred to Com. on B. & F.

  17. Read second time and amended.

  18. From committee: Amend, and do pass as amended and re-refer to Com. on B. & F. with recommendation: To Consent Calendar. (Ayes 12. Noes 0.) (March 24).

  19. Referred to Coms. on JUD. and B. & F.

  20. From printer. May be heard in committee March 22.

  21. Read first time. To print.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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

Votes

Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]

Passed 12 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 11000
Republican 1001
Total 12001
% of votes cast 92%0%0%8%
How each member voted (13)
Member Party Vote
Allen, Benjamin Democratic Yea
Ashby, Angelique V. Democratic Yea
Caballero, Anna M. Democratic Yea
Durazo, Maria Elena Democratic Yea
Laird, John Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wiener, Scott D. Democratic Yea
Niello, Roger W. Republican Not Voting
Valladares, Suzette Martinez Republican Yea

Official roll call →

AB 2335 Valencia Assembly Third Reading

Passed 78 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 20000
Democratic 57002
Unaffiliated 1000
Total 78002
% of votes cast 98%0%0%3%
How each member voted (80)
Member Party Vote
Ávila Farías — Yea
Addis, Dawn Democratic Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Ahrens, Patrick Democratic Yea
Alvarez, David Democratic Yea
Arambula, Joaquin Democratic Yea
Bains, Jasmeet Democratic Yea
Bauer-Kahan, Rebecca Democratic Yea
Bennett, Steve Democratic Yea
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Bonta, Mia Democratic Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Caloza, Jessica Democratic Yea
Carrillo, Juan Democratic Yea
Connolly, Damon Democratic Yea
Elhawary, Sade Democratic Yea
Fong, Mike Democratic Yea
Gabriel, Jesse Democratic Yea
Garcia, Robert Democratic Yea
Gipson, Mike A. Democratic Yea
González, Mark Democratic Yea
Haney, Matt Democratic Yea
Harabedian, John Democratic Yea
Hart, Gregg Democratic Yea
Irwin, Jacqui Democratic Yea
Jackson, Corey A. Democratic Yea
Kalra, Ash Democratic Yea
Krell, Maggy Democratic Yea
Lee, Alex Democratic Yea
Lowenthal, Josh Democratic Yea
McKinnor, Tina Democratic Yea
Muratsuchi, Al Democratic Yea
Nguyen, Stephanie Democratic Yea
Ortega, Liz Democratic Yea
Pacheco, Blanca Democratic Yea
Papan, Diane Democratic Yea
Patel, Darshana R. Democratic Yea
Pellerin, Gail Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Ransom, Rhodesia Democratic Yea
Rivas, Robert Democratic Yea
Rodriguez, Celeste Democratic Not Voting
Rodriguez, Michelle Democratic Yea
Rogers, Chris Democratic Not Voting
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Schultz, Nick Democratic Yea
Sharp-Collins, LaShae Democratic Yea
Solache, Jr., José Luis Democratic Yea
Soria, Esmeralda Democratic Yea
Stefani, Catherine Democratic Yea
Valencia, Avelino Democratic Yea
Ward, Christopher M. Democratic Yea
Wicks, Buffy Democratic Yea
Wilson, Lori D. Democratic Yea
Zbur, Rick Chavez Democratic Yea
Alanis, Juan Republican Yea
Castillo, Leticia Republican Yea
Chen, Phillip Republican Yea
Davies, Laurie Republican Yea
DeMaio, Carl Republican Yea
Dixon, Diane Republican Yea
Ellis, Stan Republican Yea
Flora, Heath Republican Yea
Gallagher, James Republican Yea
Gonzalez, Jeff Republican Yea
Hadwick, Heather Republican Yea
Hoover, Josh Republican Yea
Johnson, Natasha Republican Yea
Lackey, Tom Republican Yea
Macedo, Alexandra Republican Yea
Patterson, Joe Republican Yea
Sanchez, Kate Republican Yea
Ta, Tri Republican Yea
Tangipa, David J. Republican Yea
Wallis, Greg Republican Yea

Official roll call →

Do pass as amended.

Passed 11 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Democratic 11000
Republican 0004
Total 11004
% of votes cast 73%0%0%27%
How each member voted (15)
Member Party Vote
Aguiar-Curry, Cecilia M. Democratic Yea
Calderon, Lisa Democratic Yea
Caloza, Jessica Democratic Yea
Fong, Mike Democratic Yea
González, Mark Democratic Yea
Krell, Maggy Democratic Yea
Pacheco, Blanca Democratic Yea
Pellerin, Gail Democratic Yea
Sharp-Collins, LaShae Democratic Yea
Solache, Jr., José Luis Democratic Yea
Wicks, Buffy Democratic Yea
Dixon, Diane Republican Not Voting
Hoover, Josh Republican Not Voting
Ta, Tri Republican Not Voting
Tangipa, David J. Republican Not Voting

Official roll call →

Do pass as amended and be re-referred to the Committee on [Appropriations]

Passed 9 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 7000
Republican 2000
Total 9000
% of votes cast 100%0%0%0%
How each member voted (9)
Member Party Vote
Fong, Mike Democratic Yea
Krell, Maggy Democratic Yea
Rodriguez, Michelle Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Soria, Esmeralda Democratic Yea
Valencia, Avelino Democratic Yea
Chen, Phillip Republican Yea
Dixon, Diane Republican Yea

Official roll call →

Do pass as amended, and be re-referred to the Committee on [Banking and Finance] with recommendation: To Consent Calendar

Passed 12 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 9000
Republican 3000
Total 12000
% of votes cast 100%0%0%0%
How each member voted (12)
Member Party Vote
Bauer-Kahan, Rebecca Democratic Yea
Bryan, Isaac G. Democratic Yea
Connolly, Damon Democratic Yea
Harabedian, John Democratic Yea
Kalra, Ash Democratic Yea
Pacheco, Blanca Democratic Yea
Papan, Diane Democratic Yea
Stefani, Catherine Democratic Yea
Zbur, Rick Chavez Democratic Yea
Dixon, Diane Republican Yea
Macedo, Alexandra Republican Yea
Sanchez, Kate Republican Yea

Official roll call →

Subjects

finance technology
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 AB 2335 do?
(1) The Unclaimed Property Law (UPL) prescribes the circumstances under which intangible property, including digital financial assets, escheats to the state, including how and when apparent owners must be notified that their property is at risk of escheating and the manner in which escheated property must be delivered to the State Controller. Existing law also requires that business associations holding a financial asset that is potentially subject to escheatment provide notice to the owners of that asset as specified. This bill would establish mechanisms for the management of digital financial assets, as defined, that escheat to the state. The bill would create the Digital Asset Claims Reserve Account and the Digital Asset Reserve Fund for these purposes. The bill would require the Controller to hold an escheated digital financial asset in its native form no earlier than 18 months and no later than 20 months after it is reported to the Controller by the holder of the asset, and, if it is not claimed by the owner within that time, to liquidate the asset and deposit the net proceeds in the Digital Asset Claims Reserve Account. The bill would require the Treasurer to invest moneys in the Digital Asset Claims Reserve Account pursuant to the Treasurer's existing authority to invest surplus money. The bill would require the Controller to transfer all interest, earnings, and investment income credited to the Digital Asset Claims Reserve Account to the Digital Asset Reserve Fund on a quarterly basis. The bill would create the Digital Asset Reserve Board, which would be assigned specified tasks relating to administration of the Digital Asset Reserve Fund, including establishing investment policies to be followed by the Controller when investing moneys in the fund by converting them into high-quality digital assets. The bill would authorize the Controller to take specified actions related to digital financial assets and would require the Controller to publish a quarterly report, as specified. Under the bill, a person who makes a valid claim before the disposition of the digital financial assets is entitled to receive the digital financial assets in their native form or in fiat currency, as specified, or in cash if the digital financial assets were liquidated. The bill would authorize the Controller to use assets within the Digital Asset Reserve Fund to pay for the administration and management of the fund, thereby making an appropriation. (2) Under existing law, a person holding funds or other property escheated to the state must file a report with the Controller and pay or deliver the escheated property to the Controller within a specified time, unless another person establishes their right to the property. Existing law requires any payment to the Controller of at least $2,000 in unclaimed cash to be made by electronic funds transfer. The bill would permit the Controller to direct the holder of a digital financial asset to sell or to otherwise liquidate the digital financial asset and deliver the net proceeds in lieu of the native digital financial asset, as specified. The bill would require a holder of funds or other property escheated to the state that is directed to sell or liquidate the digital financial asset to do so for no less than the prevailing market price of the digital financial asset at the time of sale.
Who sponsors AB 2335?
AB 2335 is sponsored by Valencia, Avelino (Democratic).
What is the current status of AB 2335?
This bill has been introduced in the Assembly. Introduced February 19, 2026. It must pass committee before a floor vote.
Where can I track AB 2335?
Track AB 2335 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on AB 2335

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 AB 2335

Last checked for changes about 2 months ago · updated continuously

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

Track this bill →