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AB-3140 California Financial Literacy Fund.(2017-2018)

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Date Published: 02/16/2018 09:00 PM
AB3140:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill
No. 3140


Introduced by Assembly Member Carrillo

February 16, 2018


An act to amend Section 70003 of the Financial Code, relating to financial literacy.


LEGISLATIVE COUNSEL'S DIGEST


AB 3140, as introduced, Carrillo. California Financial Literacy Fund.
Existing law establishes the California Financial Literacy Fund in the State Treasury for the purpose of enabling partnerships with the financial services community and governmental and nongovernmental stakeholders to improve the financial literacy of Californians. Existing law requires the fund to be administered by the Controller. Existing law authorizes the Controller to convene a financial literacy advisory committee to provide oversight of the fund and to develop strategies to improve financial literacy.
This bill would make a nonsubstantive change in the provision governing the formation of a financial literacy advisory committee.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 70003 of the Financial Code is amended to read:

70003.
 The Controller may convene a financial literacy advisory committee to provide additional oversight of the fund and develop strategies to improve financial literacy. If convened, the committee shall comply with the Bagley-Keene Open Meeting Act (Article 9 (commencing with Section 11120) of Chapter 1 of Part 1 of Division 3 of Title 2 of the Government Code).