California 2009-2010 Regular Session Status: In Committee

AB 550 — California Financial Literacy Initiative.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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

This bill died with 2009-2010 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

The California Constitution requires the Legislature to encourage the promotion of intellectual improvement. Existing law regulates financial institutions and their interactions with the public. Existing law recognizes the existence of specialized financial institutions that provide services, including, but not limited to, financial literacy training, to underserved communities. This bill would establish the California Financial Literacy Initiative in the Controller's office for the purpose of providing resources and instruction to Californians to improve financial literacy. The initiative would be administered by the Controller. The bill would establish the California Financial Literacy Fund in the State Treasury and would authorize the Controller to deposit private donations into the fund from entities with no direct financial interest in any financial products. The bill would require those moneys to be made available upon appropriation in the annual Budget Act. The bill would require the Controller, beginning in 2011, to report to specified committees of the Legislature annually on or before August 30 on the implementation of the initiative, as specified.

Bill Text

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. In committee: Set, second hearing. Held under submission.

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

  5. From committee: Do pass, and re-refer to Com. on APPR. Re-referred. (Ayes 11. Noes 0.) (April 20).

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

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

  8. Referred to Com. on B. & F.

  9. From printer. May be heard in committee March 28.

  10. Read first time. To print.

Sponsors

  • Lieu · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Lieu

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"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.

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Votes

Subjects

finance education
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Frequently asked questions

What does AB 550 do?
The California Constitution requires the Legislature to encourage the promotion of intellectual improvement. Existing law regulates financial institutions and their interactions with the public. Existing law recognizes the existence of specialized financial institutions that provide services, including, but not limited to, financial literacy training, to underserved communities. This bill would establish the California Financial Literacy Initiative in the Controller's office for the purpose of providing resources and instruction to Californians to improve financial literacy. The initiative would be administered by the Controller. The bill would establish the California Financial Literacy Fund in the State Treasury and would authorize the Controller to deposit private donations into the fund from entities with no direct financial interest in any financial products. The bill would require those moneys to be made available upon appropriation in the annual Budget Act. The bill would require the Controller, beginning in 2011, to report to specified committees of the Legislature annually on or before August 30 on the implementation of the initiative, as specified.
Who sponsors AB 550?
AB 550 is sponsored by Lieu.
What is the current status of AB 550?
This bill died with 2009-2010 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 AB 550?
Track AB 550 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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