California Legislature Adjourns for the Year: 3 Key Bills Stopped

Sacramento capitol building

Late into the evening of Sept. 10, the California State Legislature ended this year's session and will not return until reconvening on Jan. 3, 2022.

This year's legislative session was once again a successful one for the credit union movement. Numerous "bad bills" were defeated, and the credit union movement's state charter modernization bill, Senate Bill 269, currently awaits signature by Gov. Gavin Newsom.

Some of the higher priority bills that the California Credit Union League stopped include Senate Bill 449 (climate financial risk reporting), Assembly Bill 756 (tax on student loans), and the significant watering down of Assembly Bill 1177 (public banking option), which is now a market analysis study.

"A big 'thank you' goes out to all of the League's credit union advocates for their incredible engagement on these bills," said League Vice President of State Government Affairs Robert Wilson. "Out of the three bills we lobbied for during our Government Relations Rally, including SB 269, SB 449 and AB 1177, we achieved the desired outcome for all three."

Credit unions should be ready to engage in next year's state legislative session. THANK YOU for making 2021 a successful year for the California credit union movement!

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