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SB-598 Open Financial Statements Act.(2019-2020)

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Senate:

Int

1st

Cmt

2nd

3rd

Pass

Veto

Assembly:

1st

Cmt

2nd

3rd

Pass

Bill Status

Measure:

SB-598

Lead Authors:

Moorlach (S)

Principal Coauthors:

Coauthors:

Glazer (S)

Topic:

Open Financial Statements Act.

31st Day in Print:

03/27/19

Title:

An act to add and repeal Chapter 23.5 (commencing with Section 7540) of Division 7 of Title 1 of the Government Code, relating to public agency financial reporting.

House Location:

Senate

Enrolled Date:

09/13/19

Last Amended Date:

09/06/19

Type of Measure
Active Bill - In Floor Process
Majority Vote Required
Non-Appropriation
Fiscal Committee
Non-State-Mandated Local Program
Non-Urgency
Non-Tax levy

Last 5 History Actions
Date	Action
10/12/19	In Senate. Consideration of Governor's veto pending.
10/12/19	Vetoed by the Governor.
09/19/19	Enrolled and presented to the Governor at 3 p.m.
09/11/19	Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2869.) Ordered to engrossing and enrolling.
09/11/19	Ordered to special consent calendar.

Governor's Veto Message
To the Members of the California State Senate: I am returning Senate Bill 598 without my signature. This bill establishes the Open Financial Statement Commission within the State Treasurer's Office and requires the Commission to report to the Legislature regarding how and whether to transition to state and local agencies' financial reporting to a machine-readable format. Although improving public agencies' financial reporting processes for transparency is vital, this bill imposes additional unbudgeted costs for the state and contains implementation provisions that are problematic. Sincerely, Gavin Newsom

Governor's Veto Message

To the Members of the California State Senate:

I am returning Senate Bill 598 without my signature.

This bill establishes the Open Financial Statement Commission within the State Treasurer's Office and requires the Commission to report to the Legislature regarding how and whether to transition to state and local agencies' financial reporting to a machine-readable format.

Although improving public agencies' financial reporting processes for transparency is vital, this bill imposes additional unbudgeted costs for the state and contains implementation provisions that are problematic.

Sincerely,

Gavin Newsom