CaliforniaInvestment of funds: delegation to county treasurer.
What it does
Existing law generally authorizes local agencies to invest or reinvest public funds and prescribes rules for that investing or reinvesting. Existing law authorizes a legislative body of a local agency to delegate this authority for a one-year period to the treasurer of the local agency, as specified, and after a delegation, requires the treasurer to make a monthly report of those transactions to the legislative body. Existing law authorizes a county board of supervisors, by ordinance, to delegate this authority to the county treasurer, as specified, and, after a delegation, requires the treasurer to assume this responsibility until the board to either revokes this delegation by ordinance or decides not to renew the one-year period described above.
More detail
This bill would remove the requirement that a delegation by a county board of supervisors be made by ordinance. The bill would remove the one-year limitation on those delegations, and would remove the requirement that revocation of those delegations be made by ordinance. The bill would condition a delegation on the county investment policy requiring the county treasurer to make monthly and quarterly reports, as specified.
This bill would incorporate additional changes to Sections 27000.1 and 53600.5 of the Government Code proposed by SB 1438 to be operative only if this bill and SB 1438 are enacted and this bill is enacted last.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Aug 27In Assembly. Concurrence in Senate amendments pending.Latest
- Vote recorded 3rd Reading AB2080 Johnson By Choi. Result: pass.Upper
- Aug 27Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0.).Passed Senate
- Aug 24Read second time. Ordered to third reading.Minor
- Aug 21Read third time and amended. Ordered to second reading.Major
- Aug 3Read second time. Ordered to third reading.Minor
- Jul 2From committee: Do pass. (Ayes 7. Noes 0.) (July 1).Minor
- Jul 1
- Vote recorded Do pass. Result: pass.Upper
- Jun 10From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on L. GOV.Major
- May 20Referred to Com. on L. GOV.Minor
- May 7In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Vote recorded AB 2080 Johnson Assembly Third Reading. Result: pass.Lower
- May 7Read third time. Passed. Ordered to the Senate. (Ayes 69. Noes 0. Page 4958.)Passed Assembly
- Mar 26Read second time. Ordered to third reading.Minor
- Mar 25From committee: Do pass. (Ayes 10. Noes 0.) (March 25).Minor
- Vote recorded Do pass. Result: pass.Lower
- Mar 17Re-referred to Com. on L. GOV.Minor
- Mar 16From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.Major
- Mar 2Referred to Com. on L. GOV.Minor
- Feb 19From printer. May be heard in committee March 21.
- Feb 18Read first time. To print.Introduced
- Aug 27In Assembly. Concurrence in Senate amendments pending.Latest