SB 546: Collection Licensing Act: exceptions: billing agents.

This bill would repeal the existing provisions that establish the California Financial Literacy Fund in the state treasury. The fund was intended to improve financial literacy in the state by partnering with the financial services community and stakeholders. The existing law required the fund to be administered by the controller, who was authorized to deposit private donations into the fund. The moneys from the fund would be made available upon appropriation in the annual budget act, and the controller would report annually to the legislature on the use of those moneys. This bill would eliminate these provisions, effectively repealing the existing law related to the financial literacy fund.