SB 54

  • California Senate Bill
  • 2023-2024 Regular Session
  • Introduced in Senate Dec 06, 2022
  • Passed Senate May 25, 2023
  • Passed Assembly Sep 06, 2023
  • Signed by Governor Oct 08, 2023

Venture capital companies: reporting.

Abstract

Existing law generally prohibits discrimination in the provision of privileges and services on the basis of sex, race, color, religion, ancestry, national origin, disability, medical condition, genetic information, marital status, sexual orientation, citizenship, primary language, and immigration status. Existing law provides a cause of action against any person who denies, aids or incites a denial, or makes any discrimination or distinction on the bases listed, as specified, and permits the recovery of attorney's fees. Existing law establishes the Civil Rights Department (department) and makes it responsible for, among other things, investigating and prosecuting complaints alleging a violation of these provisions. Existing law establishes the Civil Rights Enforcement and Litigation Fund (fund) , to be administered by the department. This fund consists of attorney's fees and costs awarded by a court to the department when the department is the prevailing party in a civil action brought under specified law. Existing law authorizes moneys in the fund, upon appropriation by the Legislature in the annual Budget Act, to be used to offset the costs of the department. This bill would, commencing on March 1, 2025, and annually thereafter, require a covered entity, defined as a venture capital company that meets specified criteria, to report to the department specified information about their funding determinations, including, at an aggregate level, specified demographic information for the founding teams of all of the businesses in which the covered entity made a venture capital investment in the prior calendar year to the extent the information was provided pursuant to a survey the bill would require a covered entity to provide to each founding team member of a business that has received funding from a venture capital company to which the covered entity has acted as an investment adviser, as specified. The bill would require this information to be collected and reported in a manner that does not associate the survey response data with an individual founding team member. The bill would require the department to charge and collect fees to administer these provisions, as specified. The bill would require the department to notify the covered entity that the covered entity must submit the report within 60 days of the notification. If the covered entity has not submitted the report after those 60 days have elapsed, the bill would authorize the department to commence prescribed proceedings seeking specified relief, including a penalty, as specified. The bill would require moneys collected pursuant to these provisions to be deposited in the fund, and would express the intent of the Legislature that these moneys be appropriated in the Budget Act to the department for administration of these provisions. The bill would define various terms for these purposes.

Bill Sponsors (11)

Votes


Actions


Oct 08, 2023

California State Legislature

Approved by the Governor.

California State Legislature

Chaptered by Secretary of State. Chapter 594, Statutes of 2023.

Sep 13, 2023

California State Legislature

Enrolled and presented to the Governor at 4 p.m.

Sep 07, 2023

Senate

Assembly amendments concurred in. (Ayes 32. Noes 8. Page 2465.) Ordered to engrossing and enrolling.

Sep 06, 2023

Senate

In Senate. Concurrence in Assembly amendments pending.

Assembly

Read third time. Passed. (Ayes 60. Noes 15. Page 2962.) Ordered to the Senate.

Sep 05, 2023

Assembly

Read second time. Ordered to third reading.

Sep 01, 2023

Assembly

Read second time and amended. Ordered to second reading.

Assembly

From committee: Do pass as amended. (Ayes 11. Noes 4.) (September 1).

Aug 16, 2023

Assembly

August 16 set for first hearing. Placed on suspense file.

Jul 10, 2023

Assembly

Read second time and amended. Re-referred to Com. on APPR.

  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on APPR.

Jul 06, 2023

Assembly

From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 2.) (July 5).

Jun 28, 2023

Assembly

Read second time and amended. Re-referred to Com. on JUD.

  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on JUD.

Jun 27, 2023

Assembly

From committee: Do pass as amended and re-refer to Com. on JUD. (Ayes 8. Noes 1.) (June 26).

Jun 08, 2023

Assembly

Referred to Coms. on B. & F. and JUD.

  • Referral-Committee
Coms. on B. & F. and JUD.

May 25, 2023

Senate

Read third time. Passed. (Ayes 32. Noes 6. Page 1290.) Ordered to the Assembly.

Assembly

In Assembly. Read first time. Held at Desk.

May 22, 2023

Senate

Read second time. Ordered to third reading.

May 18, 2023

Senate

Read second time and amended. Ordered to second reading.

Senate

From committee: Do pass as amended. (Ayes 5. Noes 2. Page 1159.) (May 18).

May 12, 2023

Senate

Set for hearing May 18.

May 08, 2023

Senate

May 8 hearing: Placed on APPR suspense file.

May 02, 2023

Senate

Set for hearing May 8.

Apr 27, 2023

Senate

Read second time and amended. Re-referred to Com. on APPR.

  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on APPR.

Apr 26, 2023

Senate

From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 2. Page 892.) (April 25).

Apr 20, 2023

Senate

From committee: Do pass and re-refer to Com. on JUD. (Ayes 5. Noes 1. Page 830.) (April 19). Re-referred to Com. on JUD.

  • Committee-Passage
  • Committee-Passage-Favorable
  • Referral-Committee
Com. on JUD.

Apr 18, 2023

Senate

Set for hearing April 25 in JUD. pending receipt.

Apr 17, 2023

Senate

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

  • Amendment-Passage
  • Committee-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on B. & F.I.

Apr 14, 2023

Senate

Set for hearing April 19.

Apr 12, 2023

Senate

Re-referred to Coms. on B. & F.I. and JUD.

  • Referral-Committee
Coms. on B. & F.I. and JUD.

Apr 11, 2023

Senate

April 18 hearing postponed by committee.

Senate

Re-referred to Com. on RLS.

  • Referral-Committee
Com. on RLS.

Senate

Withdrawn from committee.

Senate

Set for hearing April 18.

Apr 10, 2023

Senate

From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.

  • Amendment-Passage
  • Committee-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on JUD.

Mar 29, 2023

Senate

Re-referred to Com. on JUD.

  • Referral-Committee
Com. on JUD.

Mar 20, 2023

Senate

From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

  • Amendment-Passage
  • Committee-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on RLS.

Mar 16, 2023

Senate

From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

  • Amendment-Passage
  • Committee-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on RLS.

Jan 18, 2023

Senate

Referred to Com. on RLS.

  • Referral-Committee
Com. on RLS.

Jan 04, 2023

Senate

Read first time.

Dec 07, 2022

Senate

From printer. May be acted upon on or after January 6.

Dec 06, 2022

Senate

Introduced. To Com. on RLS. for assignment. To print.

Bill Text

Bill Text Versions Format
SB54 HTML
12/06/22 - Introduced PDF
03/16/23 - Amended Senate PDF
03/20/23 - Amended Senate PDF
04/10/23 - Amended Senate PDF
04/17/23 - Amended Senate PDF
04/27/23 - Amended Senate PDF
05/18/23 - Amended Senate PDF
06/28/23 - Amended Assembly PDF
07/10/23 - Amended Assembly PDF
09/01/23 - Amended Assembly PDF
09/11/23 - Enrolled PDF
10/08/23 - Chaptered PDF

Related Documents

Document Format
04/17/23- Senate Banking and Financial Institutions PDF
04/21/23- Senate Judiciary PDF
05/05/23- Senate Appropriations PDF
05/18/23- Senate Appropriations PDF
05/23/23- Sen. Floor Analyses PDF
06/23/23- Assembly Banking and Finance PDF
07/01/23- Assembly Judiciary PDF
08/14/23- Assembly Appropriations PDF
09/05/23- ASSEMBLY FLOOR ANALYSIS PDF
09/06/23- Sen. Floor Analyses PDF

Sources

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