Steve Bradford
- Democratic
- Senator
- District 35
Author
Existing law establishes the Department of Business Oversight, which is responsible for the administration and enforcement of regulations on the activities of various financial entities, including commercial banks, industrial banks, trust companies, credit unions, and savings and loan associations. Existing law requires specified fees, reimbursements, assessments, and other moneys collected by the Division of Corporations within the department to be deposited into the State Corporations Fund for specified purposes. This bill would, until January 1, 2025, require the department to provide grants of up to $100,000 to specified nonprofits for financial education and financial empowerment programs and services to unbanked and underbanked populations in the state, and would authorize the department to award up to $1,000,000 in grant moneys per fiscal year. The bill would appropriate the sum of $4,000,000 plus reasonable administrative costs, as estimated by the department, from the State Corporations Fund to the Financial Empowerment Fund, established in the State Treasury by the bill, and would continuously appropriate the moneys in the fund to the department for purposes of the program.
Chaptered by Secretary of State. Chapter 478, Statutes of 2019.
Approved by the Governor.
Enrolled and presented to the Governor at 3 p.m.
Ordered to special consent calendar.
Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2868.) Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 79. Noes 0. Page 3320.) Ordered to the Senate.
In Senate. Concurrence in Assembly amendments pending.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 18. Noes 0.) (August 30).
August 21 set for first hearing. Placed on APPR. suspense file.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 10. Noes 0.) (July 8). Re-referred to Com. on APPR.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 38. Noes 0. Page 1250.) Ordered to the Assembly.
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 6. Noes 0. Page 1099.) (May 16).
Set for hearing May 16.
April 29 hearing: Placed on APPR. suspense file.
Set for hearing April 29.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0. Page 712.) (April 10). Re-referred to Com. on APPR.
Set for hearing April 10.
From printer. May be acted upon on or after March 24.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB455 | HTML |
| 02/21/19 - Introduced | |
| 05/17/19 - Amended Senate | |
| 08/12/19 - Amended Assembly | |
| 09/13/19 - Enrolled | |
| 10/02/19 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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