CaliforniaState Bank Act.
What it does
The Bergeson-Peace Infrastructure and Economic Development Bank Act creates within the Governor's Office of Business and Economic Development the Infrastructure and Economic Development Bank and requires it to administer the act, which, among other things, provides for the financing of certain economic development projects.
More detail
This bill, the State Bank Act, would create in state government the State Bank Commission and provide for its membership, as prescribed.
This bill would require, on or before June 1, 2028, the commission to develop a state bank plan that addresses various items with respect to creating a state bank, including a state guarantee of public deposits, including those held by public banks. The bill would require, on or before January 1, 2028, the commission to hold at least 2 public hearings to solicit input on the state bank plan from members of the public and, by July 1, 2028, vote whether to adopt the state bank plan. The bill would require, if the commission adopts by a majority vote the state bank plan, the commission to publish the state bank plan and the fact of its adoption on its internet website.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 14In committee: Held under submission.Latest
- May 6In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- Apr 23From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 2.) (April 23). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 21Re-referred to Com. on B. & F.Minor
- Apr 20From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.Major
- Apr 14From committee: Do pass and re-refer to Com. on B. & F. (Ayes 5. Noes 2.) (April 14). Re-referred to Com. on B. & F.Minor
- Vote recorded Do pass and be re-referred to the Committee on [Banking and Finance]. Result: pass.Lower
- Mar 23Re-referred to Com. on E.D., G., & H.I.Minor
- Mar 19From committee chair, with author's amendments: Amend, and re-refer to Com. on E.D., G., & H.I. Read second time and amended.Major
- Mar 19Referred to Coms. on E.D., G., & H.I. and B. & F.Minor
- Feb 20From printer. May be heard in committee March 22.
- Feb 19Read first time. To print.Introduced