CA AB 2795
enactedFinancial regulation.
California · 2025-2026 Regular Session · lower
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Quick answers
Did CA AB 2795 pass?
Yes. CA AB 2795 has been enacted into law. Latest recorded action (2026-09-20): Chaptered by Secretary of State - Chapter 410, Statutes of 2026.
What is CA AB 2795 about?
(1) The State Assistance Fund for Enterprise Act of 1989 authorizes the creation of a nonprofit corporation called the State Assistance Fund for Enterprise, Business and Industrial Development Corporation for the general purpose of enhancing the availability of financial assistance for small businesses in California. The act requires the State Controller to establish a separate account in the General Fund entitled the State Enterprise Loan Fund, which is continuously appropriated for purposes of the act. This bill would repeal that act. (2) Existing law specifies the types of securities that are eligible for the investment of surplus state funds, which include, among other things, bonds, notes, or other obligations of a local government of this state. Existing law requires those local bonds, notes, or other obligations to be within the top 3 ratings of a nationally recognized statistical rating organization. Existing law also provides that an eligible security for the investment of surplus state funds includes bonds, debentures, and notes issued by corporations organized and operating with the United States and requires that those securities be within the top 3 ratings of a nationally recognized statistical rating organization. This bill would instead require those local bonds, notes, or other obligations and corporate bonds, debentures, and notes to be rated in a rating category of "A" or its equivalent or better by such an organization to be eligible for investment. Existing law provides that an eligible security for the investment of surplus state funds includes commercial paper of "prime" quality, as defined by a nationally recognized statistical rating organization that rates these securities, that also meets certain conditions. Under existing law, those conditions include, among other things, that the paper not exceed 270 days maturity and, at the request of the Pooled Money Investment Board, is secured by the issuer by depositing with the Treasurer certain authorized securities of a market value at least 10% in excess of the amount of the state's investment (authorized securities condition) . This bill would instead require that the paper be of "prime" quality of the highest ranking or of the highest letter and number rating, as defined by a statistical rating organization, and not exceed 397 days maturity. The bill would also remove the authorized securities condition. The bill would also make nonsubstantive changes. (3) Existing law establishes the Department of Financial Protection and Innovation to generally oversee and regulate financial institutions and related businesses. Existing law requires the department and the Commissioner of Financial Protection and Innovation to provide various notices and information by mail. Existing law requires the department and commissioner to process and issue licenses to various types of financial institutions and to levy fees or assessments in connection therewith. This bill would remove the requirement that various notices and information be provided by mail and would instead authorize the commissioner to fulfill any notice requirement under any law or regulation related to the levy of a fee or assessment against any licensee or registrant by sending the notice of fee or assessment to an electronic service address, as specified. For any person licensed or registered through the Nationwide Multistate Licensing System and Registry (NMLS) , the bill would also authorize the commissioner to fulfill these notice requirements by electronic communication through that system. When a statute or regulation requires licensure or registration through NMLS, this bill would require the commissioner to require the use of NMLS forms and instructions. (4) This bill would incorporate additional changes to Section 23016 of the Financial Code proposed by AB 2028 to be operative only if this bill and AB 2028 are enacted and this bill is enacted last.
Who sponsors CA AB 2795?
Committee on Banking and Finance is the primary sponsor of CA AB 2795.
Description
(1) The State Assistance Fund for Enterprise Act of 1989 authorizes the creation of a nonprofit corporation called the State Assistance Fund for Enterprise, Business and Industrial Development Corporation for the general purpose of enhancing the availability of financial assistance for small businesses in California. The act requires the State Controller to establish a separate account in the General Fund entitled the State Enterprise Loan Fund, which is continuously appropriated for purposes of the act. This bill would repeal that act. (2) Existing law specifies the types of securities that are eligible for the investment of surplus state funds, which include, among other things, bonds, notes, or other obligations of a local government of this state. Existing law requires those local bonds, notes, or other obligations to be within the top 3 ratings of a nationally recognized statistical rating organization. Existing law also provides that an eligible security for the investment of surplus state funds includes bonds, debentures, and notes issued by corporations organized and operating with the United States and requires that those securities be within the top 3 ratings of a nationally recognized statistical rating organization. This bill would instead require those local bonds, notes, or other obligations and corporate bonds, debentures, and notes to be rated in a rating category of "A" or its equivalent or better by such an organization to be eligible for investment. Existing law provides that an eligible security for the investment of surplus state funds includes commercial paper of "prime" quality, as defined by a nationally recognized statistical rating organization that rates these securities, that also meets certain conditions. Under existing law, those conditions include, among other things, that the paper not exceed 270 days maturity and, at the request of the Pooled Money Investment Board, is secured by the issuer by depositing with the Treasurer certain authorized securities of a market value at least 10% in excess of the amount of the state's investment (authorized securities condition) . This bill would instead require that the paper be of "prime" quality of the highest ranking or of the highest letter and number rating, as defined by a statistical rating organization, and not exceed 397 days maturity. The bill would also remove the authorized securities condition. The bill would also make nonsubstantive changes. (3) Existing law establishes the Department of Financial Protection and Innovation to generally oversee and regulate financial institutions and related businesses. Existing law requires the department and the Commissioner of Financial Protection and Innovation to provide various notices and information by mail. Existing law requires the department and commissioner to process and issue licenses to various types of financial institutions and to levy fees or assessments in connection therewith. This bill would remove the requirement that various notices and information be provided by mail and would instead authorize the commissioner to fulfill any notice requirement under any law or regulation related to the levy of a fee or assessment against any licensee or registrant by sending the notice of fee or assessment to an electronic service address, as specified. For any person licensed or registered through the Nationwide Multistate Licensing System and Registry (NMLS) , the bill would also authorize the commissioner to fulfill these notice requirements by electronic communication through that system. When a statute or regulation requires licensure or registration through NMLS, this bill would require the commissioner to require the use of NMLS forms and instructions. (4) This bill would incorporate additional changes to Section 23016 of the Financial Code proposed by AB 2028 to be operative only if this bill and AB 2028 are enacted and this bill is enacted last.
- Introduced
- 2026-04-16
- Latest action
- 2026-09-20 — Chaptered by Secretary of State - Chapter 410, Statutes of 2026.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Committee on Banking and Financeauthor
Committees
Not provided by source.
Action timeline
Newest first
2026-09-20
Chaptered by Secretary of State - Chapter 410, Statutes of 2026.
became-law
2026-09-20
Approved by the Governor.
executive-signature
2026-09-04
Enrolled and presented to the Governor at 4 p.m.
executive-receipt
2026-08-27
In Assembly. Concurrence in Senate amendments pending.
2026-08-27
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 0.).
amendment-passage,committee-passage,committee-passage-favorable
2026-08-27
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 0. Page 6693.).
amendment-passage,committee-passage,committee-passage-favorable
2026-08-26
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0.).
passage,reading-1,reading-3
2026-08-24
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2026-08-20
Read third time and amended. Ordered to second reading.
amendment-passage,reading-1,reading-2,reading-3
2026-08-13
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2026-08-12
Read third time and amended. Ordered to second reading.
amendment-passage,reading-1,reading-2,reading-3
2026-08-10
Ordered to third reading.
reading-1,reading-3
2026-08-10
From Consent Calendar.
2026-08-04
Read second time. Ordered to Consent Calendar.
reading-1,reading-2
2026-08-03
From committee: Be ordered to second reading file pursuant to Senate Rule 28.8 and ordered to Consent Calendar.
committee-passage,reading-1,reading-2
2026-06-18
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (June 17). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2026-06-09
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.I.
amendment-introduction,amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2026-06-03
Referred to Com. on B. & F.I.
referral-committee
2026-05-21
In Senate. Read first time. To Com. on RLS. for assignment.
reading-1,referral-committee
2026-05-21
Read third time. Passed. Ordered to the Senate. (Ayes 68. Noes 0. Page 5230.)
passage,reading-1,reading-3
2026-05-14
Read second time. Ordered to Consent Calendar.
reading-1,reading-2
2026-05-13
From committee: Do pass. To Consent Calendar. (Ayes 15. Noes 0.) (May 13).
committee-passage,committee-passage-favorable
2026-04-23
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (April 23). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2026-04-20
Re-referred to Com. on B. & F.
referral-committee
2026-04-16
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
amendment-introduction,amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2026-03-23
Referred to Com. on B. & F.
referral-committee
2026-03-20
From printer. May be heard in committee April 19.
2026-03-19
Read first time. To print.
reading-1
Versions
- 03/19/26 - Introduced — 2026-03-19Compare
- 04/16/26 - Amended Assembly — 2026-04-16Compare
- 06/09/26 - Amended Senate — 2026-06-09Compare
- 08/12/26 - Amended Senate — 2026-08-12Compare
- 08/20/26 - Amended Senate — 2026-08-20Compare
- 09/01/26 - Enrolled — 2026-09-01Compare
- (document, no version)Compare
- AB2795Compare
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Votes
Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar
2026-04-23 · pass · 9-0
Member-level votes (9)
- Schiavo: yes
- Harabedian: yes
- Krell: yes
- Blanca Rubio: yes
- Valencia: yes
- Chen: yes
- Dixon: yes
- Fong: yes
- Michelle Rodriguez: yes
Do pass. To Consent Calendar.
2026-05-13 · pass · 15-0
Member-level votes (15)
- Pacheco: yes
- Krell: yes
- Mark González: yes
- Ellis: yes
- Sharp-Collins: yes
- Hoover: yes
- Tangipa: yes
- Wicks: yes
- Bauer-Kahan: yes
- Ta: yes
- Caloza: yes
- Calderon: yes
- Fong: yes
- Solache: yes
- Pellerin: yes
AB 2795 Banking and Finance Consent Calendar Second Day
2026-05-21 · pass · 68-0
Member-level votes (80)
- Ta: yes
- Stefani: yes
- Mark González: yes
- Soria: yes
- Dixon: yes
- Ortega: yes
- Sharp-Collins: yes
- Ávila Farías: yes
- Berman: yes
- Schiavo: yes
- Rogers: yes
- Papan: yes
- Petrie-Norris: yes
- Caloza: yes
- Ahrens: yes
- Ellis: yes
- Haney: yes
- Solache: yes
- Nguyen: yes
- Patel: yes
- Tangipa: yes
- Bonta: yes
- Aguiar-Curry: yes
- Calderon: yes
- Patterson: yes
- Quirk-Silva: yes
- Kalra: yes
- Davies: yes
- Lee: yes
- Wallis: yes
- Alanis: yes
- Michelle Rodriguez: yes
- Boerner: yes
- Krell: yes
- Ransom: yes
- Bryan: yes
- Castillo: yes
- Rivas: yes
- Pacheco: yes
- Bains: yes
- Harabedian: yes
- Zbur: yes
- Valencia: yes
- Carrillo: yes
- Fong: yes
- Addis: yes
- Connolly: yes
- Gipson: yes
- Elhawary: yes
- Pellerin: yes
- Ward: yes
- Jeff Gonzalez: yes
- McKinnor: yes
- Hadwick: yes
- Bennett: yes
- Hart: yes
- DeMaio: yes
- Gallagher: yes
- Jackson: yes
- Johnson: yes
- Flora: yes
- Macedo: yes
- Muratsuchi: yes
- Blanca Rubio: yes
- Sanchez: yes
- Irwin: yes
- Alvarez: yes
- Bauer-Kahan: yes
- Celeste Rodriguez: other
- Lowenthal: other
- Ramos: other
- Wilson: other
- Wicks: other
- Garcia: other
- Lackey: other
- Arambula: other
- Schultz: other
- Hoover: other
- Gabriel: other
- Chen: other
Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar
2026-06-17 · pass · 7-0
Member-level votes (7)
- Cervantes: yes
- Strickland: yes
- Grayson: yes
- Reyes: yes
- Niello: yes
- Hurtado: yes
- Richardson: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-09-21T20:02:07.756944Z
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