California 2015-2016 Regular Session Status: Enacted

AB 283 — Financial affairs.

Last action — Chaptered by Secretary of State - Chapter 181, Statutes of 2015.

  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 11, 2015. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 7 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

Existing law prescribes the instruments in, and criteria by which, a local agency, as defined, may invest and deposit its funds, including its surplus funds. Existing law, until January 1, 2017, authorizes, under certain conditions, a local agency to invest up to a certain percentage of its surplus funds in deposits at specified types of financial institutions that use a private sector entity to assist in the placement of deposits, whether those investments are certificates of deposit or in another form. With respect to investments other than a certificate of deposit, existing law limits the percentage of local agency funds that may be invested by any one private sector entity. Existing law, on and after January 1, 2017, limits this authority to invest surplus funds to investments in certificates of deposit. This bill would extend the existing temporary authority for a local agency to invest its surplus funds, in certificates of deposit or in another form of investment, until January 1, 2021, and for that time period, would remove a limitation on the percentage of local agency funds that may be invested in certificates of deposit. This bill would, on and after January 1, 2021, indefinitely authorize a local agency to invest surplus funds to investments in certificates of deposit, as specified. This bill would also remove the limit on the percentage of local agency funds that may be invested by any one private sector entity, as specified.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 181, Statutes of 2015.

  2. Approved by the Governor.

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

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 2353.).

  5. In Assembly. Concurrence in Senate amendments pending. May be considered on or after July 11 pursuant to Assembly Rule 77.

  6. Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 1878.).

  7. Read second time. Ordered to Consent Calendar.

  8. From committee: Do pass. To Consent Calendar. (Ayes 7. Noes 0.) (July 1).

  9. Read second time and amended. Re-referred to Com. on GOV. & F.

  10. From committee: Amend, and do pass as amended and re-refer to Com. on GOV. & F. (Ayes 7. Noes 0.) (June 17).

  11. Referred to Coms. on B. & F.I. and GOV. & F.

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

  13. Read third time. Passed. Ordered to the Senate. (Ayes 80. Noes 0. Page 1015.)

  14. Read second time. Ordered to Consent Calendar.

  15. From committee: Do pass. To Consent Calendar. (Ayes 11. Noes 0.) (April 13).

  16. From committee: Do pass and re-refer to Com. on B. & F. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (April 8). Re-referred to Com. on B. & F.

  17. Referred to Coms. on L. GOV. and B. & F.

  18. From printer. May be heard in committee March 14.

  19. Read first time. To print.

Sponsors

  • Dababneh · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Dababneh

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

AB 283 DABABNEH Concurrence in Senate Amendments

Passed 79 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 69001
Democratic 4000
Republican 6000
Total 79001
% of votes cast 99%0%0%1%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Baker — Yea
Bigelow — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Kim — Yea
Low — Yea
Maienschein — Yea
Mathis — Yea
Mullin — Yea
Nazarian — Yea
Perea — Yea
Quirk — Yea
Ridley-Thomas — Yea
Rodriguez — Yea
Ting — Yea
Waldron — Yea
Williams — Yea
Eggman — Yea
Frazier — Yea
Burke — Yea
Gordon — Yea
Harper — Yea
Salas — Yea
Levine — Yea
Chang — Yea
Linder — Yea
Mayes — Yea
McCarty — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Cooley — Yea
O'Donnell — Yea
Obernolte — Yea
Olsen — Yea
Rendon — Yea
Thurmond — Yea
Weber — Yea
Wilk — Yea
Gatto — Yea
Gray — Yea
Hadley — Yea
Atkins — Yea
Campos — Yea
Bonilla — Yea
Lopez — Yea
Chávez — Yea
Cooper — Not Voting
Holden — Yea
Dababneh — Yea
Daly — Yea
Dodd — Yea
Jones-Sawyer — Yea
Medina — Yea
Melendez — Yea
Santiago — Yea
Steinorth — Yea
Wagner — Yea
Wood — Yea
Gomez — Yea
Gonzalez — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea

Official roll call →

Consent Calendar 2nd

Passed 39 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 36001
Democratic 3000
Total 39001
% of votes cast 98%0%0%3%
How each member voted (40)
Member Party Vote
Anderson — Not Voting
Hertzberg — Yea
Hill — Yea
Leyva — Yea
Nielsen — Yea
Wieckowski — Yea
Cannella — Yea
Allen — Yea
Fuller — Yea
Mitchell — Yea
De León — Yea
Runner — Yea
Galgiani — Yea
Glazer — Yea
Hancock — Yea
Hernandez — Yea
Bates — Yea
Beall — Yea
Block — Yea
Hueso — Yea
Huff — Yea
Lara — Yea
Leno — Yea
Liu — Yea
Mendoza — Yea
Monning — Yea
Moorlach — Yea
Morrell — Yea
Pan — Yea
Pavley — Yea
Roth — Yea
Vidak — Yea
Wolk — Yea
Hall — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

AB 283 DABABNEH Consent Calendar Second Day

Passed 80 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 70000
Democratic 4000
Republican 6000
Total 80000
% of votes cast 100%0%0%0%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Baker — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Jones-Sawyer — Yea
Levine — Yea
Maienschein — Yea
Melendez — Yea
O'Donnell — Yea
Quirk — Yea
Rendon — Yea
Steinorth — Yea
Wagner — Yea
Wilk — Yea
Wood — Yea
Eggman — Yea
Cooper — Yea
Daly — Yea
Salas — Yea
Frazier — Yea
Gatto — Yea
Burke — Yea
Gordon — Yea
Harper — Yea
Kim — Yea
Campos — Yea
Linder — Yea
Low — Yea
Mayes — Yea
Gray — Yea
McCarty — Yea
Medina — Yea
Atkins — Yea
Chang — Yea
Bonilla — Yea
Mullin — Yea
Lopez — Yea
Alejo — Yea
Bigelow — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Chávez — Yea
Cooley — Yea
Dababneh — Yea
Dodd — Yea
Nazarian — Yea
Obernolte — Yea
Olsen — Yea
Perea — Yea
Ridley-Thomas — Yea
Rodriguez — Yea
Thurmond — Yea
Waldron — Yea
Weber — Yea
Williams — Yea
Hadley — Yea
Holden — Yea
Mathis — Yea
Santiago — Yea
Ting — Yea
Gomez — Yea
Gonzalez — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea

Official roll call →

Do pass. To Consent Calendar.

Passed 11 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 11001
Total 11001
% of votes cast 92%0%0%8%
How each member voted (12)
Member Party Vote
Achadjian — Yea
Brown — Yea
Ridley-Thomas — Not Voting
Dababneh — Yea
Gatto — Yea
Kim — Yea
Low — Yea
Chau — Yea
Perea — Yea
Hadley — Yea
Mark Stone — Yea
Travis Allen — Yea

Official roll call →

Subjects

taxation finance
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 AB 283 do?
Existing law prescribes the instruments in, and criteria by which, a local agency, as defined, may invest and deposit its funds, including its surplus funds. Existing law, until January 1, 2017, authorizes, under certain conditions, a local agency to invest up to a certain percentage of its surplus funds in deposits at specified types of financial institutions that use a private sector entity to assist in the placement of deposits, whether those investments are certificates of deposit or in another form. With respect to investments other than a certificate of deposit, existing law limits the percentage of local agency funds that may be invested by any one private sector entity. Existing law, on and after January 1, 2017, limits this authority to invest surplus funds to investments in certificates of deposit. This bill would extend the existing temporary authority for a local agency to invest its surplus funds, in certificates of deposit or in another form of investment, until January 1, 2021, and for that time period, would remove a limitation on the percentage of local agency funds that may be invested in certificates of deposit. This bill would, on and after January 1, 2021, indefinitely authorize a local agency to invest surplus funds to investments in certificates of deposit, as specified. This bill would also remove the limit on the percentage of local agency funds that may be invested by any one private sector entity, as specified.
Who sponsors AB 283?
AB 283 is sponsored by Dababneh.
What is the current status of AB 283?
This bill has been enacted into law. Introduced February 11, 2015. Enacted.
Where can I track AB 283?
Track AB 283 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on AB 283

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of AB 283

Last checked for changes 2 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →