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California 20252026

AB 2080

Investment of funds: delegation to county treasurer.

Open original source Back to bills
Source: Open States / PluralUpdated 2026-09-12 13:12:55 UTC.

Official record

Measure details

Jurisdiction
California
Session
20252026
Chamber
lower
Classification
bill
Subjects
Investmentoffunds, delegationtocountytreasurer
Introduced / first action
2026-02-18 00:00:00

Source-supplied abstracts

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. 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.

Sponsors

Source-supplied history

Actions

  1. In Assembly. Concurrence in Senate amendments pending.

  2. Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0.).

    passage, reading-1, reading-3

  3. Read second time. Ordered to third reading.

    reading-1, reading-2, reading-3

  4. Read third time and amended. Ordered to second reading.

    amendment-passage, reading-1, reading-2, reading-3

  5. Read second time. Ordered to third reading.

    reading-1, reading-2, reading-3

  6. From committee: Do pass. (Ayes 7. Noes 0.) (July 1).

    committee-passage, committee-passage-favorable

  7. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on L. GOV.

    amendment-introduction, amendment-passage, committee-passage, reading-1, reading-2, referral-committee

  8. Referred to Com. on L. GOV.

    referral-committee

  9. In Senate. Read first time. To Com. on RLS. for assignment.

    reading-1, referral-committee

  10. Read third time. Passed. Ordered to the Senate. (Ayes 69. Noes 0. Page 4958.)

    passage, reading-1, reading-3

  11. Read second time. Ordered to third reading.

    reading-1, reading-2, reading-3

  12. From committee: Do pass. (Ayes 10. Noes 0.) (March 25).

    committee-passage, committee-passage-favorable

  13. Re-referred to Com. on L. GOV.

    referral-committee

  14. From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.

    amendment-introduction, amendment-passage, committee-passage, reading-1, reading-2, referral-committee

  15. Referred to Com. on L. GOV.

    referral-committee

  16. From printer. May be heard in committee March 21.

  17. Read first time. To print.

    reading-1

When supplied by the API

Related measures

No resolvable related measure is supplied.