AB 2214: Government finance: deposits.
<blockquote> The bill amends existing laws regarding government finance by creating the Community Reinvestment Account within the Pooled Money Investment Account. It requires the California Treasurer to transfer $4 billion from the pooled account to this new fund, which will be used for deposits into financial institutions that meet specific performance standards, such as verified small business lending in underserved areas and first-time home buyer lending. The bill reduces the securities requirement for these institutions from 10% over the deposit amount to just 90%. Additionally, it mandates that at least half of the funds must be used for affordable housing lending. Institutions receiving deposits are required to submit quarterly performance reports, which will be publicly published by the Treasurer. </blockquote>
| Apr. 14, 2026 | Re-referred to Com. on B. & F. |
| Apr. 13, 2026 | (Pending re-refer to Com. on L. GOV.) |
| Apr. 13, 2026 | Assembly Rule 56 suspended. (Page 4580.) |
| Apr. 13, 2026 | From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. |
| Mar. 16, 2026 | Referred to Coms. on B. & F. and L. GOV. |