California 2019-2020 Regular Session Status: In Committee 1 D cosponsors

AB 2480 — State funds: investment: California Infrastructure and Economic Development Bank loans.

Last action — Referred to Coms. on J., E.D., & E. and B. & F.

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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 2019-2020 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Existing law requires the Treasurer to invest, or deposit in banks and savings and loan associations, specified state moneys designated as surplus and determined to be available for that purpose by the Pooled Money Investment Board. Existing law prescribes eligible securities for the investment of surplus moneys under these provisions, including bonds, notes, and warrants of this state and bonds or warrants of any county, city, or specified types of districts of this state. This bill would expand the scope of securities eligible for investment under these provisions to include loans issued by the California Infrastructure and Economic Development Bank for the financing of infrastructure projects by local agencies. The bill, by January 1, 2022, would require the Treasurer to target an investment of 1% of the average daily balance of the Pooled Money Investment Account in these securities.

Bill Text

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1 line(s) added, 1 removed.

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Action History

  1. Referred to Coms. on J., E.D., & E. and B. & F.

  2. From printer. May be heard in committee March 21.

  3. Read first time. To print.

Sponsors

Sponsorship breakdown

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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.

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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.

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

Subjects

finance transportation
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Frequently asked questions

What does AB 2480 do?
Existing law requires the Treasurer to invest, or deposit in banks and savings and loan associations, specified state moneys designated as surplus and determined to be available for that purpose by the Pooled Money Investment Board. Existing law prescribes eligible securities for the investment of surplus moneys under these provisions, including bonds, notes, and warrants of this state and bonds or warrants of any county, city, or specified types of districts of this state. This bill would expand the scope of securities eligible for investment under these provisions to include loans issued by the California Infrastructure and Economic Development Bank for the financing of infrastructure projects by local agencies. The bill, by January 1, 2022, would require the Treasurer to target an investment of 1% of the average daily balance of the Pooled Money Investment Account in these securities.
Who sponsors AB 2480?
AB 2480 is sponsored by Limón, Monique (Democratic).
What is the current status of AB 2480?
This bill died with 2019-2020 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 2480?
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Last checked for changes 3 months ago · updated continuously

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