California 2021-2022 Regular Session Status: In Committee

AB 756 — California Kids Investment and Development Savings Program.

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 2021-2022 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 establishes the California Kids Investment and Development Savings Program, which is administered by the Scholarshare Investment Board, for the purpose of expanding access to higher education through savings. Existing law establishes the California Kids Investment and Development Savings Program Fund, the moneys in which are continuously appropriated to the board for the program. Existing law requires implementation of the program before January 1, 2021, subject to the availability of funding. This bill would require a financial institution that does business in California to pay a fee in the amount of 1% of the amount of each educational loan made to a private person for purposes of financing study in California. The bill would specify that the fee does not apply to subsidized loans made through educational institutions. The bill would require that the fees be remitted to the State Treasury for deposit into the California Kids Investment and Development Savings Program Fund. By providing for additional moneys to be deposited into a continuously appropriated fund, this bill would make an appropriation. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature.

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. From committee: Do pass and re-refer to Com. on B. & F. (Ayes 9. Noes 2.) (April 22). Re-referred to Com. on B. & F.

  4. Coauthors revised.

  5. In committee: Hearing postponed by committee.

  6. Re-referred to Com. on HIGHER ED.

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

  8. Referred to Coms. on HIGHER ED. and B. & F.

  9. From printer. May be heard in committee March 19.

  10. Read first time. To print.

Sponsors

  • Nazarian · Primary
  • McCarty · Cosponsor

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 120 not signed on · 2 voted No

Sponsors (1)

  • Nazarian

Co-sponsors (1)

  • McCarty

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

Do pass and be re-referred to the Committee on [Appropriations]

Passed 7 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democratic 7000
Republican 0002
Total 7002
% of votes cast 78%0%0%22%
How each member voted (9)
Member Party Vote
Arambula, Joaquin Democratic Yea
Bauer-Kahan, Rebecca Democratic Yea
Connolly, Damon Democratic Yea
Lee, Alex Democratic Yea
McKinnor, Tina Democratic Yea
Pacheco, Blanca Democratic Yea
Zbur, Rick Chavez Democratic Yea
Hoover, Josh Republican Not Voting
Ta, Tri Republican Not Voting

Official roll call →

Do pass and be re-referred to the Committee on [Environmental Safety and Toxic Materials]

Passed 11 Yea · 1 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 1001
Democratic 10000
Republican 0102
Total 11103
% of votes cast 73%7%0%20%
How each member voted (15)
Member Party Vote
Friedman — Yea
Vince Fong — Not Voting
Berman, Marc Democratic Yea
Carrillo, Juan Democratic Yea
Gipson, Mike A. Democratic Yea
Hart, Gregg Democratic Yea
Jackson, Corey A. Democratic Yea
Kalra, Ash Democratic Yea
Lowenthal, Josh Democratic Yea
Nguyen, Stephanie Democratic Yea
Ward, Christopher M. Democratic Yea
Wicks, Buffy Democratic Yea
Davies, Laurie Republican Nay
Sanchez, Kate Republican Not Voting
Wallis, Greg Republican Not Voting

Official roll call →

Do pass and be re-referred to the Committee on [Banking and Finance]

Passed 9 Yea · 2 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 3001
Republican 1100
Unaffiliated 5100
Total 9201
% of votes cast 75%17%0%8%
How each member voted (12)
Member Party Vote
Medina — Yea
Low — Yea
Santiago — Yea
Bloom — Yea
Levine — Yea
Kiley — Nay
Arambula, Joaquin Democratic Yea
Gabriel, Jesse Democratic Yea
Irwin, Jacqui Democratic Not Voting
Rubio, Blanca E. Democratic Yea
Choi, Steven S. Republican Nay
Valladares, Suzette Martinez Republican Yea

Official roll call →

Subjects

taxation education
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Frequently asked questions

What does AB 756 do?
Existing law establishes the California Kids Investment and Development Savings Program, which is administered by the Scholarshare Investment Board, for the purpose of expanding access to higher education through savings. Existing law establishes the California Kids Investment and Development Savings Program Fund, the moneys in which are continuously appropriated to the board for the program. Existing law requires implementation of the program before January 1, 2021, subject to the availability of funding. This bill would require a financial institution that does business in California to pay a fee in the amount of 1% of the amount of each educational loan made to a private person for purposes of financing study in California. The bill would specify that the fee does not apply to subsidized loans made through educational institutions. The bill would require that the fees be remitted to the State Treasury for deposit into the California Kids Investment and Development Savings Program Fund. By providing for additional moneys to be deposited into a continuously appropriated fund, this bill would make an appropriation. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature.
Who sponsors AB 756?
AB 756 is sponsored by Nazarian and McCarty.
What is the current status of AB 756?
This bill died with 2021-2022 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 756?
Track AB 756 free on One Click Politics — get push/email alerts when it moves.

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