Update on Six California Bills with Implications for Credit Unions

Recently, appropriations committees for the California State Senate and Assembly individually met to dispense with 766 bills on the “suspense file” — a list of “fiscal bills” with estimated costs above a specific threshold.

These thresholds are: $150,000 for the assembly; $50,000 for the general fund; and $150,000 for any special fund for the senate. These fiscal bills are held until the suspense file is heard.

A handful of bills the California Credit Union League either supports or opposes were heard (note that many bills are amended as of now) — with some positive wins!

Sacramento is now less than one week away from the end of the state legislative session. Below are bills the League is currently working on (includes last name of legislative authors):

• Senate Bill 616 (Gonzalez): This bill would have expanded paid sick leave from three days up to seven days. The bill was amended coming off the suspense file to lower the number of days to five. This is an amendment the League supported and is glad to see changed in the bill.
• Senate Bill 696 (Portantino): This remote online notary bill passed out of committee with amendments from the secretary of state, a delayed implementation and additional consumer protections. The League supports this bill.
• Senate Bill 261 (Stern): This climate reporting bill is for entities with $500 million or more in yearly revenue. It passed out of committee with amendments that would remove the filing requirement with the secretary of state. The League opposes this bill.
• Senate Bill 253 (Weiner): This Scope 1, 2 and 3 emission reporting bill is for entities with $1 billion or more in yearly revenue. It passed out of committee with various technical amendments. The League opposes this bill.
• Assembly Bill 1414 (Kalra): This is a bill on the prohibition of common counts for collections. The League opposes this bill.
• Assembly Bill 39 (Grayson): This bill will license and regulate digital asset companies. It passed out of committee with numerous technical amendments. The League supports this bill.

If you have any questions on these committee hearing results — or questions regarding legislation in general — email Leagues Senior Vice President of State Government Affairs Robert Wilson.