California 2013-2014 Regular Session Status: Passed Assembly

AB 495 — Community investment.

Last action — From Senate committee without further action.

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

This bill died with 2013-2014 Regular Session. It reached “Passed Assembly” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Existing law authorizes the Governor's Office of Business and Economic Development to, among other things, advance statewide economic goals. This bill would establish the California Community Investment Program within the Governor's Office of Business and Economic Development. The program would be governed by a 10 member California Community Investment Council comprised of 6 citizens appointed by the Governor, the Treasurer, the Controller, the Secretary of Business, Consumer Services, and Housing, and the Director of the Governor's Office of Business and Economic Development, as specified. The bill would also establish an advisory committee to advise the California Community Investment Council composed solely of four members of the Legislature, as specified. The program would be required to create a database of low-income neighborhoods, compile and maintain an inventory of California public sector funding resources and financing mechanisms, coordinate public sector financial investment and public programs to assist low-income communities to become business, development, and investment ready, develop criteria for triple bottom-line investment funds, establish overall triple bottom-line goals and standardized metrics for economic, social, and environmental outcomes to be accepted by eligible investment funds, establish and convene regular meetings of the California Community Investment Network comprised of organizations and institutions with expertise and resources to advise the California Community Investment Council and eligible investment fund managers, and report biannually to the Legislature and the Governor on the status and progress of the California Community Investment Program and performance on goals and triple bottom-line outcomes, as specified. The bill would require the program to encourage significant private sector commitment, cooperation, and collaboration to invest private capital in low-income neighborhoods through eligible triple bottom-line investment funds with the goal of obtaining, by January 1, 2019, at least $1,000,000,000 of new investment by triple bottom-line investment funds in triple bottom-line real estate developments and businesses located in low-income California neighborhoods. The bill would also make legislative findings and declarations in this regard.

Bill Text

Action History

  1. From Senate committee without further action.

  2. In committee: Held under submission.

  3. In committee: Placed on APPR. suspense file.

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

  5. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 1.) (June 23).

  6. Referred to Com. on B., P. & E.D.

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

  8. Read third time. Passed. Ordered to the Senate. (Ayes 55. Noes 17. Page 3716.)

  9. Read second time. Ordered to third reading.

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

  11. From committee: Do pass as amended. (Ayes 12. Noes 3.) (January 23).

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

  13. From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 1.) (January 15). Re-referred to Com. on APPR.

  14. Re-referred to Com. on H. & C.D.

  15. Read second time and amended.

  16. From committee: Do pass as amended and re-refer to Com. on H. & C.D. (Ayes 9. Noes 0.) (January 6).

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

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

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

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

  21. In committee: Set, second hearing. Hearing canceled at the request of author.

  22. In committee: Set, first hearing. Hearing canceled at the request of author.

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

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

  25. Referred to Coms. on B. & F. and H. & C.D.

  26. From printer. May be heard in committee March 23.

  27. Read first time. To print.

Sponsors

  • Campos · Primary
  • Dickinson · Cosponsor

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 120 not signed on · 6 voted No

Sponsors (1)

  • Campos

Co-sponsors (1)

  • Dickinson

Not signed on (120)

120 members have not signed on to this bill.

Show all 120 →

"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

AB 495 CAMPOS Assembly Third Reading

Passed 55 Yea · 17 Nay · 8 Other
Party YeaNayPresentNot Voting
Unaffiliated 511408
Democratic 4000
Republican 0300
Total 551708
% of votes cast 69%21%0%10%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Ammiano — Yea
Bloom — Yea
Bradford — Yea
Brown — Yea
Buchanan — Yea
Levine — Yea
Linder — Not Voting
Mansoor — Nay
Nestande — Nay
Ridley-Thomas — Yea
Ting — Yea
Weber — Yea
Williams — Yea
Lowenthal — Yea
Garcia — Yea
Daly — Yea
Skinner — Yea
Gray — Yea
Atkins — Yea
Frazier — Yea
Fong — Yea
Campos — Yea
Chau — Yea
Bonilla — Yea
Gomez — Yea
Gorell — Not Voting
Hall — Yea
Harkey — Not Voting
Bocanegra — Yea
Holden — Yea
John A. Pérez — Yea
Salas — Yea
Jones-Sawyer — Yea
Chesbro — Yea
Logue — Not Voting
Maienschein — Not Voting
Allen — Nay
Medina — Yea
Melendez — Nay
Morrell — Nay
Chávez — Nay
Alejo — Yea
Bigelow — Nay
Conway — Not Voting
Cooley — Yea
Dababneh — Yea
Donnelly — Nay
Eggman — Yea
Mullin — Yea
Nazarian — Yea
Olsen — Nay
Pan — Yea
Perea — Not Voting
Quirk — Yea
Rendon — Yea
Rodriguez — Yea
Wagner — Nay
Waldron — Not Voting
Wieckowski — Yea
Wilk — Nay
Dickinson — Yea
Fox — Yea
Gatto — Yea
Yamada — Yea
Gordon — Yea
Hagman — Nay
Beth Gaines — Nay
Jim Patterson — Nay
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Muratsuchi, Al Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Dahle, Megan Republican Nay
Grove, Shannon Republican Nay
Jones, Brian W. Republican Nay

Official roll call →

Do pass as amended.

Passed 12 Yea · 3 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 11302
Democratic 1000
Total 12302
% of votes cast 71%18%0%12%
How each member voted (17)
Member Party Vote
Bigelow — Nay
Bradford — Yea
Linder — Not Voting
Pan — Yea
Ridley-Thomas — Yea
Holden — Yea
Bocanegra — Yea
Quirk — Yea
Weber — Yea
Allen — Nay
Campos — Yea
Donnelly — Not Voting
Eggman — Yea
Wagner — Nay
Gatto — Yea
Gomez — Yea
Calderon, Lisa Democratic Yea

Official roll call →

Do pass as amended and be re-referred to the Committee on Housing and Community Development.

Passed 9 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 8003
Democratic 1000
Total 9003
% of votes cast 75%0%0%25%
How each member voted (12)
Member Party Vote
Harkey — Not Voting
Linder — Not Voting
Williams — Yea
Weber — Yea
Chau — Yea
Gatto — Yea
Morrell — Not Voting
Perea — Yea
Rodriguez — Yea
Achadjian — Yea
Dickinson — Yea
Bonta, Mia Democratic Yea

Official roll call →

Subjects

public-safety finance housing labor
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Frequently asked questions

What does AB 495 do?
Existing law authorizes the Governor's Office of Business and Economic Development to, among other things, advance statewide economic goals. This bill would establish the California Community Investment Program within the Governor's Office of Business and Economic Development. The program would be governed by a 10 member California Community Investment Council comprised of 6 citizens appointed by the Governor, the Treasurer, the Controller, the Secretary of Business, Consumer Services, and Housing, and the Director of the Governor's Office of Business and Economic Development, as specified. The bill would also establish an advisory committee to advise the California Community Investment Council composed solely of four members of the Legislature, as specified. The program would be required to create a database of low-income neighborhoods, compile and maintain an inventory of California public sector funding resources and financing mechanisms, coordinate public sector financial investment and public programs to assist low-income communities to become business, development, and investment ready, develop criteria for triple bottom-line investment funds, establish overall triple bottom-line goals and standardized metrics for economic, social, and environmental outcomes to be accepted by eligible investment funds, establish and convene regular meetings of the California Community Investment Network comprised of organizations and institutions with expertise and resources to advise the California Community Investment Council and eligible investment fund managers, and report biannually to the Legislature and the Governor on the status and progress of the California Community Investment Program and performance on goals and triple bottom-line outcomes, as specified. The bill would require the program to encourage significant private sector commitment, cooperation, and collaboration to invest private capital in low-income neighborhoods through eligible triple bottom-line investment funds with the goal of obtaining, by January 1, 2019, at least $1,000,000,000 of new investment by triple bottom-line investment funds in triple bottom-line real estate developments and businesses located in low-income California neighborhoods. The bill would also make legislative findings and declarations in this regard.
Who sponsors AB 495?
AB 495 is sponsored by Campos and Dickinson.
What is the current status of AB 495?
This bill died with 2013-2014 Regular Session. It reached “Passed Assembly” 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 495?
Track AB 495 free on One Click Politics — get push/email alerts when it moves.

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