California 2019-2020 Regular Session Status: Enacted Bipartisan · 2 D · 1 R cosponsors

AB 1320 — Public employee retirement systems: prohibited investments: Turkey.

Last action — Chaptered by Secretary of State - Chapter 459, Statutes of 2019.

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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 February 22, 2019. Enacted.

Prognosis

Likely to advance 98% · high confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 8 sponsors

    1 primary, 7 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (2 D · 1 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 9 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 California Constitution grants the retirement board of a public employee retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the retirement fund and 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 a retirement board. Existing law prohibits the boards of administration of the Public Employees' Retirement System and the State Teachers' Retirement System from making investments in certain countries and in thermal coal companies, as specified, subject to the boards' plenary authority and fiduciary responsibility for investment of moneys and administration of the systems. This bill, upon the passage of a federal law that imposes sanctions on the government of Turkey for failure to officially acknowledge its responsibility for the Armenian Genocide, would prohibit the boards of administration of the Public Employees' Retirement System and the State Teachers' Retirement System from making additional or new investments, or renewing existing investments, of public employee retirement funds in an investment vehicle in the government of Turkey that is issued by the government of Turkey or that is owned by the government of Turkey. The bill would require the boards to liquidate existing investments in the government of Turkey within 18 months of the passage of the above-described federal law. The bill would require these boards to make specified reports to the Legislature and the Governor regarding these actions within one year of the passage of a federal law imposing those sanctions on the government of Turkey and on or before January 1, 2024. The bill would specify that its provisions do not require a board to take any action that the board determines in good faith is inconsistent with its constitutional fiduciary responsibilities to the retirement system. The bill would indemnify from the General Fund and hold harmless the present, former, and future board members, officers, and employees of, and investment managers under contract with, the boards, in connection with actions relating to these investments. The bill would repeal the above-described prohibited investment and reporting provisions on January 1, 2025, or if a determination is made by the board, the Department of State, the Congress of the United States, or another appropriate federal agency that the government of Turkey has officially acknowledged its responsibility for the Armenian Genocide, whichever occurs first.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 459, Statutes of 2019.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 3:30 p.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 60. Noes 0. Page 3539.).

  5. In Assembly. Concurrence in Senate amendments pending.

  6. Read third time. Passed. Ordered to the Assembly. (Ayes 33. Noes 0. Page 2804.).

  7. Read second time. Ordered to third reading.

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

  9. From committee: Amend, and do pass as amended. (Ayes 7. Noes 0.) (August 30).

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

  11. From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (July 2). Re-referred to Com. on APPR.

  12. Read second time and amended. Re-referred to Com. on JUD.

  13. From committee: Amend, and do pass as amended and re-refer to Com. on JUD. (Ayes 5. Noes 0.) (June 26).

  14. Referred to Coms. on L., P.E. & R. and JUD.

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

  16. Read third time. Passed. Ordered to the Senate. (Ayes 63. Noes 0. Page 1886.)

  17. Read second time. Ordered to third reading.

  18. From committee: Do pass. (Ayes 14. Noes 0.) (May 16).

  19. Coauthors revised.

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

  21. Re-referred to Com. on APPR.

  22. Read second time and amended.

  23. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 2.) (April 3).

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

  25. Re-referred to Com. on P.E. & R.

  26. From committee chair, with author's amendments: Amend, and re-refer to Com. on P.E. & R. Read second time and amended.

  27. Referred to Com. on P.E. & R.

  28. Read first time.

  29. From printer. May be heard in committee March 25.

  30. Introduced. To print.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 7 co-sponsors · 114 not signed on

Sponsors (1)

  • Nazarian

Co-sponsors (7)

Not signed on (114)

114 members have not signed on to this bill.

Show all 114 →

"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 1320 Nazarian Concurrence in Senate Amendments

Passed 60 Yea · 0 Nay · 19 Other
Party YeaNayPresentNot Voting
Unaffiliated 390013
Democratic 17005
Republican 4001
Total 600019
% of votes cast 76%0%0%24%
How each member voted (79)
Member Party Vote
Salas — Yea
Mayes — Yea
Mathis — Yea
Cunningham — Yea
Gonzalez — Yea
Diep — Yea
Chau — Yea
Gloria — Yea
Bloom — Yea
Voepel — Yea
Rodriguez — Yea
Santiago — Yea
Chiu — Yea
Gray — Yea
Holden — Yea
Daly — Yea
Eggman — Yea
Maienschein — Yea
Jones-Sawyer — Yea
Mullin — Yea
Friedman — Yea
Ting — Yea
Kamlager-Dove — Yea
Levine — Yea
McCarty — Yea
Low — Yea
Nazarian — Yea
Burke — Yea
Wood — Yea
Medina — Yea
Rendon — Yea
Chu — Yea
Weber — Yea
Fong — Not Voting
Brough — Not Voting
Kiley — Not Voting
Frazier — Not Voting
Bigelow — Not Voting
Smith — Not Voting
Cooley — Not Voting
Obernolte — Not Voting
Quirk — Not Voting
Cooper — Not Voting
Melendez — Not Voting
O'Donnell — Not Voting
Waldron — Not Voting
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Luz Rivas — Yea
Mark Stone — Yea
Wendy Carrillo — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Yea
Bauer-Kahan, Rebecca Democratic Not Voting
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Cervantes, Sabrina Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Not Voting
Irwin, Jacqui Democratic Not Voting
Kalra, Ash Democratic Not Voting
Limón, Monique Democratic Yea
Muratsuchi, Al Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Reyes, Eloise Gómez Democratic Not Voting
Rivas, Robert Democratic Yea
Rubio, Blanca E. Democratic Yea
Wicks, Buffy Democratic Yea
Chen, Phillip Republican Yea
Choi, Steven S. Republican Not Voting
Flora, Heath Republican Yea
Gallagher, James Republican Yea
Lackey, Tom Republican Yea

Official roll call →

3rd Reading AB1320 Nazarian et al. By Borgeas

Passed 33 Yea · 0 Nay · 7 Other
Party YeaNayPresentNot Voting
Unaffiliated 22005
Democratic 8002
Republican 3000
Total 33007
% of votes cast 83%0%0%18%
How each member voted (40)
Member Party Vote
Rubio — Yea
Monning — Yea
Mitchell — Yea
Bradford — Yea
Wilk — Yea
Beall — Yea
Atkins — Yea
Hill — Yea
Morrell — Yea
Hueso — Yea
Leyva — Yea
Dodd — Yea
Skinner — Yea
Allen — Yea
Borgeas — Yea
Galgiani — Yea
Portantino — Yea
Bates — Yea
Glazer — Yea
Nielsen — Yea
Chang — Yea
Pan — Yea
Moorlach — Not Voting
Hertzberg — Not Voting
Wieckowski — Not Voting
Roth — Not Voting
Mark Stone — Not Voting
Archuleta, Bob Democratic Yea
Caballero, Anna M. Democratic Not Voting
Durazo, Maria Elena Democratic Yea
Gonzalez, Lena A. Democratic Yea
Hurtado, Melissa Democratic Yea
Jackson, Corey A. Democratic Not Voting
McGuire, Mike Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wiener, Scott D. Democratic Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass as amended

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 1000
Unaffiliated 5000
Democratic 1000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Wieckowski — Yea
Portantino — Yea
Bates — Yea
Hill — Yea
Bradford — Yea
Durazo, Maria Elena Democratic Yea
Jones, Brian W. Republican Yea

Official roll call →

Placed on suspense file

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 1000
Unaffiliated 5000
Democratic 1000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Wieckowski — Yea
Portantino — Yea
Bates — Yea
Hill — Yea
Bradford — Yea
Durazo, Maria Elena Democratic Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass, but first be re-referred to the Committee on [Appropriations]

Passed 8 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 1000
Democratic 5000
Unaffiliated 2001
Total 8001
% of votes cast 89%0%0%11%
How each member voted (9)
Member Party Vote
Monning — Yea
Borgeas — Yea
Wieckowski — Not Voting
Durazo, Maria Elena Democratic Yea
Gonzalez, Lena A. Democratic Yea
Jackson, Corey A. Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Jones, Brian W. Republican Yea

Official roll call →

AB 1320 Nazarian Assembly Third Reading

Passed 63 Yea · 0 Nay · 17 Other
Party YeaNayPresentNot Voting
Unaffiliated 360012
Democratic 22003
Republican 5002
Total 630017
% of votes cast 79%0%0%21%
How each member voted (80)
Member Party Vote
Salas — Yea
Brough — Yea
Mayes — Yea
Frazier — Yea
Cunningham — Yea
Gonzalez — Yea
Diep — Yea
Chau — Yea
Gloria — Yea
Bloom — Yea
Santiago — Yea
Voepel — Yea
Chiu — Yea
Gray — Yea
Holden — Yea
Eggman — Yea
Maienschein — Yea
Jones-Sawyer — Yea
Quirk — Yea
Mullin — Yea
Friedman — Yea
Ting — Yea
Kamlager-Dove — Yea
Levine — Yea
McCarty — Yea
Low — Yea
Nazarian — Yea
Burke — Yea
Wood — Yea
Medina — Yea
Rendon — Yea
Chu — Yea
Weber — Yea
Waldron — Yea
Cooper — Not Voting
Rodriguez — Not Voting
Kiley — Not Voting
Obernolte — Not Voting
Mathis — Not Voting
Bigelow — Not Voting
Daly — Not Voting
Smith — Not Voting
Cooley — Not Voting
Melendez — Not Voting
O'Donnell — Not Voting
Cristina Garcia — Yea
Eduardo Garcia — Not Voting
Mark Stone — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Yea
Bauer-Kahan, Rebecca Democratic Not Voting
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Cervantes, Sabrina Democratic Yea
Fong, Mike Democratic Not Voting
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Not Voting
Irwin, Jacqui Democratic Yea
Kalra, Ash Democratic Yea
Limón, Monique Democratic Yea
Muratsuchi, Al Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Rivas, Robert Democratic Yea
Rivas, Robert Democratic Yea
Rubio, Blanca E. Democratic Yea
Wicks, Buffy Democratic Yea
Chen, Phillip Republican Yea
Choi, Steven S. Republican Not Voting
Dahle, Megan Republican Not Voting
Flora, Heath Republican Yea
Gallagher, James Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea

Official roll call →

Do pass.

Passed 14 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Democratic 6001
Unaffiliated 8003
Total 14004
% of votes cast 78%0%0%22%
How each member voted (18)
Member Party Vote
Bloom — Yea
Brough — Yea
Maienschein — Yea
Eggman — Yea
Gonzalez — Yea
Quirk — Yea
Chau — Yea
Diep — Not Voting
Obernolte — Not Voting
Bigelow — Not Voting
Eduardo Garcia — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Fong, Mike Democratic Not Voting
Gabriel, Jesse Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Rivas, Robert Democratic Yea

Official roll call →

Subjects

finance labor
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Frequently asked questions

What does AB 1320 do?
The California Constitution grants the retirement board of a public employee retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the retirement fund and 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 a retirement board. Existing law prohibits the boards of administration of the Public Employees' Retirement System and the State Teachers' Retirement System from making investments in certain countries and in thermal coal companies, as specified, subject to the boards' plenary authority and fiduciary responsibility for investment of moneys and administration of the systems. This bill, upon the passage of a federal law that imposes sanctions on the government of Turkey for failure to officially acknowledge its responsibility for the Armenian Genocide, would prohibit the boards of administration of the Public Employees' Retirement System and the State Teachers' Retirement System from making additional or new investments, or renewing existing investments, of public employee retirement funds in an investment vehicle in the government of Turkey that is issued by the government of Turkey or that is owned by the government of Turkey. The bill would require the boards to liquidate existing investments in the government of Turkey within 18 months of the passage of the above-described federal law. The bill would require these boards to make specified reports to the Legislature and the Governor regarding these actions within one year of the passage of a federal law imposing those sanctions on the government of Turkey and on or before January 1, 2024. The bill would specify that its provisions do not require a board to take any action that the board determines in good faith is inconsistent with its constitutional fiduciary responsibilities to the retirement system. The bill would indemnify from the General Fund and hold harmless the present, former, and future board members, officers, and employees of, and investment managers under contract with, the boards, in connection with actions relating to these investments. The bill would repeal the above-described prohibited investment and reporting provisions on January 1, 2025, or if a determination is made by the board, the Department of State, the Congress of the United States, or another appropriate federal agency that the government of Turkey has officially acknowledged its responsibility for the Armenian Genocide, whichever occurs first.
Who sponsors AB 1320?
AB 1320 is sponsored by Nazarian, Friedman, Gabriel, Jesse (Democratic), Portantino, Chen, Phillip (Republican), Holden, Wilk, and Rivas, Robert (Democratic).
What is the current status of AB 1320?
This bill has been enacted into law. Introduced February 22, 2019. Enacted.
Where can I track AB 1320?
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