California 2021-2022 Regular Session Status: Passed Assembly

AB 386 — Public Employees' Retirement Fund: investments: confidentiality.

Last action — In committee: Set, first hearing. Failed passage. Reconsideration granted.

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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 2021-2022 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, the California Public Records Act, requires state and local agencies to make their records available for public inspection, unless an exemption from disclosure applies. Existing law excludes from the disclosure requirement certain records regarding alternative investments in which public investment funds invest. This bill would exempt from disclosure under the act specified records regarding an internally managed private loan made directly by the Public Employees' Retirement Fund. Under the bill, these records would include quarterly and annual financial statements of the borrower or its constituent owners, unless the information has already been publicly released by the keeper of the information. The bill would prescribe specified exceptions to this exemption from disclosure. Existing constitutional provisions require that a statute that limits the right of access to the meetings of public bodies or the writings of public officials and agencies be adopted with findings demonstrating the interest protected by the limitation and the need for protecting that interest. This bill would make legislative findings to that effect.

Bill Text

Action History

  1. In committee: Set, first hearing. Failed passage. Reconsideration granted.

  2. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD.

  3. In committee: Hearing postponed by committee.

  4. From committee: Do pass and re-refer to Com. on JUD. (Ayes 4. Noes 0.) (June 21). Re-referred to Com. on JUD.

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

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

  7. Read third time. Passed. Ordered to the Senate. (Ayes 53. Noes 10. Page 1718.)

  8. Read second time. Ordered to third reading.

  9. From committee: Do pass. (Ayes 10. Noes 5.) (May 12).

  10. Re-referred to Com. on APPR.

  11. Read second time and amended.

  12. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (April 27).

  13. From committee: Do pass and re-refer to Com. on JUD. (Ayes 7. Noes 0.) (April 15). Re-referred to Com. on JUD.

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

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

  16. Referred to Coms. on P.E. & R. and JUD.

  17. From printer. May be heard in committee March 5.

  18. Read first time. To print.

Sponsors

  • Cooper · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on · 8 voted No

Sponsors (1)

  • Cooper

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

Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]

Failed 4 Yea · 3 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 2102
Democratic 2102
Republican 0100
Total 4304
% of votes cast 36%27%0%36%
How each member voted (11)
Member Party Vote
Skinner — Yea
Hertzberg — Yea
Wieckowski — Nay
Borgeas — Not Voting
Gonzalez — Not Voting
Caballero, Anna M. Democratic Not Voting
Durazo, Maria Elena Democratic Yea
Laird, John Democratic Nay
Stern, Henry I. Democratic Not Voting
Umberg, Thomas J. Democratic Yea
Jones, Brian W. Republican Nay

Official roll call →

[First] hearing set for [07-14-2021]: Failed passage in Committee. Reconsideration granted

Passed 11 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 5000
Republican 1000
Democratic 5000
Total 11000
% of votes cast 100%0%0%0%
How each member voted (11)
Member Party Vote
Hertzberg — Yea
Gonzalez — Yea
Wieckowski — Yea
Skinner — Yea
Borgeas — Yea
Caballero, Anna M. Democratic Yea
Durazo, Maria Elena Democratic Yea
Laird, John Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Jones, Brian W. Republican Yea

Official roll call →

AB 386 Cooper Assembly Third Reading

Passed 53 Yea · 10 Nay · 16 Other
Party YeaNayPresentNot Voting
Unaffiliated 31505
Democratic 19207
Republican 3304
Total 5310016
% of votes cast 67%13%0%20%
How each member voted (79)
Member Party Vote
Bloom — Yea
Friedman — Yea
Cooley — Yea
Rendon — Yea
Mullin — Yea
Holden — Yea
Villapudua — Yea
Salas — Yea
Jones-Sawyer — Yea
Santiago — Yea
Maienschein — Yea
Rodriguez — Yea
Quirk — Yea
Wood — Yea
Ting — Yea
Low — Yea
Frazier — Yea
O'Donnell — Yea
Waldron — Yea
Daly — Yea
Medina — Yea
McCarty — Yea
Gray — Yea
Burke — Yea
Cooper — Yea
Chau — Yea
Levine — Nay
Smith — Nay
Cunningham — Nay
Mayes — Nay
Bigelow — Nay
Voepel — Not Voting
Kiley — Not Voting
Mathis — Not Voting
Nazarian — Not Voting
Chiu — Not Voting
Cristina Garcia — Yea
Eduardo Garcia — Yea
Lorena Gonzalez — Yea
Luz Rivas — Yea
Mark Stone — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Not Voting
Bauer-Kahan, Rebecca Democratic Nay
Bennett, Steve Democratic Yea
Berman, Marc Democratic Not Voting
Boerner, Tasha Democratic Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Cervantes, Sabrina Democratic Yea
Fong, Mike Democratic Nay
Gabriel, Jesse Democratic Not Voting
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Irwin, Jacqui Democratic Yea
Kalra, Ash Democratic Not Voting
Lee, Alex Democratic Not Voting
Muratsuchi, Al Democratic Yea
Nguyen, Stephanie Democratic Not Voting
Petrie-Norris, Cottie Democratic Not Voting
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Rivas, Robert Democratic Yea
Rubio, Blanca E. Democratic Yea
Ward, Christopher M. Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wicks, Buffy Democratic Yea
Chen, Phillip Republican Not Voting
Choi, Steven S. Republican Not Voting
Dahle, Megan Republican Yea
Davies, Laurie Republican Nay
Flora, Heath Republican Not Voting
Gallagher, James Republican Nay
Lackey, Tom Republican Nay
Patterson, Joe Republican Not Voting
Seyarto, Kelly Republican Yea
Valladares, Suzette Martinez Republican Yea

Official roll call →

Do pass.

Passed 10 Yea · 5 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 6200
Democratic 4101
Republican 0200
Total 10501
% of votes cast 63%31%0%6%
How each member voted (16)
Member Party Vote
Friedman — Yea
Quirk — Yea
Chau — Yea
Levine — Nay
Bigelow — Nay
Eduardo Garcia — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Fong, Mike Democratic Nay
Gabriel, Jesse Democratic Not Voting
Rivas, Robert Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Dahle, Megan Republican Nay
Davies, Laurie Republican Nay

Official roll call →

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

Passed 6 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 5002
Republican 1001
Democratic 0002
Total 6005
% of votes cast 55%0%0%45%
How each member voted (11)
Member Party Vote
Chau — Yea
Holden — Yea
Kiley — Yea
Chiu — Yea
Maienschein — Not Voting
Lorena Gonzalez — Not Voting
Mark Stone — Yea
Kalra, Ash Democratic Not Voting
Reyes, Eloise Gómez Democratic Not Voting
Davies, Laurie Republican Yea
Gallagher, James Republican Not Voting

Official roll call →

Subjects

finance
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Frequently asked questions

What does AB 386 do?
Existing law, the California Public Records Act, requires state and local agencies to make their records available for public inspection, unless an exemption from disclosure applies. Existing law excludes from the disclosure requirement certain records regarding alternative investments in which public investment funds invest. This bill would exempt from disclosure under the act specified records regarding an internally managed private loan made directly by the Public Employees' Retirement Fund. Under the bill, these records would include quarterly and annual financial statements of the borrower or its constituent owners, unless the information has already been publicly released by the keeper of the information. The bill would prescribe specified exceptions to this exemption from disclosure. Existing constitutional provisions require that a statute that limits the right of access to the meetings of public bodies or the writings of public officials and agencies be adopted with findings demonstrating the interest protected by the limitation and the need for protecting that interest. This bill would make legislative findings to that effect.
Who sponsors AB 386?
AB 386 is sponsored by Cooper.
What is the current status of AB 386?
This bill died with 2021-2022 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 386?
Track AB 386 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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