Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee advances bill to study a state public bank; backers say it could reduce financing costs
Summary
AB 2,243 to establish a state bank commission moved out of the Assembly Banking and Finance Committee. Sponsor Assemblymember Haney said a commission would evaluate whether a state bank or other public finance tools could lower borrowing costs; proponents cited potential long‑term public benefits while banks and credit unions warned of taxpayer risk.
The Assembly Banking and Finance Committee voted to pass AB 2,243 to the Committee on Appropriations after testimony for and against establishing a state bank commission to study public banking options.
Assemblymember Haney, the bill’s sponsor, said AB 2,243 does not create a bank but would establish a deliberative, independent commission to evaluate whether a state bank or other public financing tools could better manage public dollars. "The goal is to complement, not replace existing financing mechanisms," Haney said, adding that the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
