California 2021-2022 Regular Session Status: In Committee 2 D cosponsors

SB 449 — Climate-related financial risk.

Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 generally provides for the regulation of various financial institutions, including banks, credit unions, and finance lenders, by the Department of Financial Protection and Innovation. Existing law requires the Secretary for Environmental Protection to coordinate greenhouse gas emission reductions and climate-change activities in state government. Executive Order N-19-19 requires, among other things, the Department of Finance to create a Climate Investment Framework and to consult with the Office of Planning and Research on the framework. This bill would require a covered entity, as defined, to, on or before December 31, 2022, and annually thereafter, prepare a climate-related financial risk report, as defined, and to submit to the Secretary of State, and make available to the public on its own internet website, a copy of that report. The bill would also require a covered entity to submit to the Secretary of State a statement affirming, not under penalty of perjury, that the climate-related financial risk report discloses climate-related financial risk, as required by the bill. This bill would also require, on or before January 31, 2023, and annually thereafter, the Secretary of State to deliver to the Climate-Related Risk Disclosure Advisory Group in the Office of Planning and Research copies of all climate-related financial risk reports received pursuant to these provisions in the prior calendar year and would require the office to make those reports available to the public on its internet website.

Bill Text

Action History

  1. Returned to Secretary of Senate pursuant to Joint Rule 56.

  2. January 20 hearing: Held in committee and under submission.

  3. Set for hearing January 20.

  4. May 20 hearing: Held in committee and under submission.

  5. Set for hearing May 20.

  6. May 17 hearing: Placed on APPR suspense file.

  7. Set for hearing May 17.

  8. From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 2. Page 985.) (April 29). Re-referred to Com. on APPR.

  9. Set for hearing April 29.

  10. Read second time and amended. Re-referred to Com. on E.Q.

  11. From committee: Do pass as amended and re-refer to Com. on E.Q. (Ayes 6. Noes 2. Page 875.) (April 21).

  12. From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.

  13. Set for hearing April 21.

  14. April 7 set for first hearing canceled at the request of author.

  15. Set for hearing April 7.

  16. Referred to Coms. on B. & F.I. and E.Q.

  17. Joint Rule 55 suspended. (Ayes 32. Noes 4. Page 272.)

  18. (Ayes 32. Noes 4.)

  19. Art. IV. Sec. 8(a) of the Constitution dispensed with.

  20. From printer. May be acted upon on or after March 19.

  21. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 119 not signed on · 2 voted No

Sponsors (1)

Co-sponsors (2)

Not signed on (119)

119 members have not signed on to this bill.

Show all 119 →

"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

Placed on suspense file

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

Official roll call →

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

Passed 6 Yea · 2 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 2001
Unaffiliated 4000
Republican 0200
Total 6201
% of votes cast 67%22%0%11%
How each member voted (9)
Member Party Vote
Min — Yea
Hueso — Yea
Eggman — Yea
Portantino — Yea
Caballero, Anna M. Democratic Not Voting
Durazo, Maria Elena Democratic Yea
Limón, Monique Democratic Yea
Dahle, Megan Republican Nay
Ochoa Bogh, Rosilicie Republican Nay

Official roll call →

Subjects

finance environment
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 449 do?
Existing law generally provides for the regulation of various financial institutions, including banks, credit unions, and finance lenders, by the Department of Financial Protection and Innovation. Existing law requires the Secretary for Environmental Protection to coordinate greenhouse gas emission reductions and climate-change activities in state government. Executive Order N-19-19 requires, among other things, the Department of Finance to create a Climate Investment Framework and to consult with the Office of Planning and Research on the framework. This bill would require a covered entity, as defined, to, on or before December 31, 2022, and annually thereafter, prepare a climate-related financial risk report, as defined, and to submit to the Secretary of State, and make available to the public on its own internet website, a copy of that report. The bill would also require a covered entity to submit to the Secretary of State a statement affirming, not under penalty of perjury, that the climate-related financial risk report discloses climate-related financial risk, as required by the bill. This bill would also require, on or before January 31, 2023, and annually thereafter, the Secretary of State to deliver to the Climate-Related Risk Disclosure Advisory Group in the Office of Planning and Research copies of all climate-related financial risk reports received pursuant to these provisions in the prior calendar year and would require the office to make those reports available to the public on its internet website.
Who sponsors SB 449?
SB 449 is sponsored by Stern, Henry I. (Democratic), Wiener, Scott D. (Democratic), and Min.
What is the current status of SB 449?
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 SB 449?
Track SB 449 free on One Click Politics — get push/email alerts when it moves.

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