California 2011-2012 Regular Session Status: Enacted

AB 1408 — General obligation bonds.

Last action — Chaptered by Secretary of State - Chapter 282, Statutes of 2011.

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

This bill has been enacted into law. Introduced March 09, 2011. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

The State General Obligation Bond Law generally provides for a procedure that may be adopted by other acts, with any necessary modifications, to authorize the issuance and sale of state general obligation bonds, including general obligation bonds to be issued as zero coupon or capital appreciation bonds, and to provide for the repayment of those bonds. Existing law requires, with regard to a resolution determining that the sale of all or part of the bonds is necessary or desirable, a specification that the denomination of the bonds to be sold shall be $1,000 or multiples of that sum. This bill would instead require a specification that the denomination of the bonds to be sold shall be $25 or multiples of that sum.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 282, Statutes of 2011.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 3 p.m.

  4. In Assembly. Ordered to Engrossing and Enrolling.

  5. Read third time. Passed. Ordered to the Assembly. (Ayes 27. Noes 7. Page 2011.).

  6. Read second time. Ordered to third reading.

  7. From committee: Be placed on second reading file pursuant to Senate Rule 28.8.

  8. From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 3.) (June 29). Re-referred to Com. on APPR.

  9. Referred to Com. on GOV. & F.

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

  11. Read third time. Passed. Ordered to the Senate. (Ayes 58. Noes 19. Page 1500.)

  12. Read second time. Ordered to third reading.

  13. From committee: Do pass. (Ayes 12. Noes 4.) (May 11).

  14. Re-referred to Com. on APPR.

  15. Read second time and amended.

  16. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (April 25).

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

  18. From printer. May be heard in committee April 9.

  19. Read first time. To print.

Sponsors

  • Committee on Banking and Finance · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on · 5 voted No

Sponsors (1)

  • Committee on Banking and Finance

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

3rd Reading AB1408 Committee on B. & F. (Eng) By Vargas

Passed 27 Yea · 7 Nay · 6 Other
Party YeaNayPresentNot Voting
Unaffiliated 26704
Republican 0001
Democratic 1001
Total 27706
% of votes cast 68%18%0%15%
How each member voted (40)
Member Party Vote
Yee — Yea
Hancock — Yea
Hernandez — Yea
Runner — Yea
Wyland — Not Voting
Lowenthal — Yea
De León — Yea
Negrete McLeod — Yea
Rubio — Yea
Cannella — Yea
Fuller — Nay
Huff — Nay
Anderson — Nay
Dutton — Yea
Leno — Yea
Lieu — Not Voting
Pavley — Yea
Vargas — Yea
Walters — Nay
Wright — Yea
Alquist — Yea
Blakeslee — Yea
Harman — Nay
Kehoe — Yea
Liu — Yea
Price — Yea
Simitian — Yea
Steinberg — Yea
Wolk — Yea
Corbett — Yea
Emmerson — Yea
Correa — Yea
Evans — Not Voting
DeSaulnier — Yea
Beth Gaines — Not Voting
Bill Berryhill — Nay
La Malfa — Nay
Calderon, Lisa Democratic Not Voting
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Not Voting

Official roll call →

AB 1408 B. & F. Assembly Third Reading By ENG

Passed 58 Yea · 19 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 0200
Unaffiliated 571703
Democratic 1000
Total 581903
% of votes cast 73%24%0%4%
How each member voted (80)
Member Party Vote
Butler — Yea
Carter — Yea
Feuer — Yea
Furutani — Yea
Fong — Yea
Cedillo — Yea
Galgiani — Yea
Allen — Yea
Gatto — Yea
Gordon — Yea
Chesbro — Yea
Portantino — Yea
John A. Pérez — Yea
Mitchell — Yea
Fletcher — Yea
Hagman — Yea
Hall — Yea
Davis — Yea
Hayashi — Yea
Bonilla — Yea
Ammiano — Yea
Beall — Yea
Block — Yea
Dickinson — Yea
Hill — Yea
Hueso — Yea
Huffman — Yea
Mendoza — Yea
Miller — Yea
Nestande — Yea
Olsen — Yea
Pan — Yea
Skinner — Yea
Torres — Yea
Wieckowski — Yea
Atkins — Yea
Garrick — Nay
Gorell — Not Voting
Halderman — Nay
Conway — Nay
Donnelly — Nay
Knight — Nay
Logue — Nay
Morrell — Nay
Nielsen — Nay
Norby — Nay
Silva — Nay
Smyth — Nay
Valadao — Nay
Wagner — Nay
Achadjian — Yea
Alejo — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Harkey — Nay
Huber — Yea
Jeffries — Nay
Lara — Yea
Ma — Not Voting
Mansoor — Nay
Monning — Yea
Perea — Yea
Solorio — Yea
Swanson — Yea
Williams — Yea
Campos — Yea
Cook — Not Voting
Eng — Yea
Fuentes — Yea
Yamada — Yea
Beth Gaines — Nay
Bill Berryhill — Yea
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Yea
Grove, Shannon Republican Nay
Jones, Brian W. Republican Nay

Official roll call →

Do pass.

Passed 12 Yea · 4 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 11401
Democratic 1000
Total 12401
% of votes cast 71%24%0%6%
How each member voted (17)
Member Party Vote
Campos — Yea
Fuentes — Yea
Mitchell — Yea
Hall — Yea
Davis — Yea
Hill — Yea
Donnelly — Not Voting
Lara — Yea
Norby — Nay
Solorio — Yea
Wagner — Nay
Blumenfield — Yea
Bradford — Yea
Harkey — Nay
Nielsen — Nay
Gatto — Yea
Calderon, Lisa Democratic Yea

Official roll call →

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

Passed 9 Yea · 1 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 8102
Democratic 1000
Total 9102
% of votes cast 75%8%0%17%
How each member voted (12)
Member Party Vote
Fletcher — Yea
Harkey — Nay
Morrell — Not Voting
Skinner — Yea
Torres — Yea
Achadjian — Yea
Lara — Yea
Perea — Yea
Eng — Yea
Fuentes — Yea
Roger Hernández — Not Voting
Calderon, Lisa Democratic Yea

Official roll call →

Subjects

finance
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 1408 do?
The State General Obligation Bond Law generally provides for a procedure that may be adopted by other acts, with any necessary modifications, to authorize the issuance and sale of state general obligation bonds, including general obligation bonds to be issued as zero coupon or capital appreciation bonds, and to provide for the repayment of those bonds. Existing law requires, with regard to a resolution determining that the sale of all or part of the bonds is necessary or desirable, a specification that the denomination of the bonds to be sold shall be $1,000 or multiples of that sum. This bill would instead require a specification that the denomination of the bonds to be sold shall be $25 or multiples of that sum.
Who sponsors AB 1408?
AB 1408 is sponsored by Committee on Banking and Finance.
What is the current status of AB 1408?
This bill has been enacted into law. Introduced March 09, 2011. Enacted.
Where can I track AB 1408?
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