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

Senate:
Int
1st
Cmt
2nd
3rd
Pass
Pass
Veto
Assembly:
1st
Cmt
2nd
3rd
Pass
Bill Status
SB-598
Moorlach (S)
-
Glazer (S)
Open Financial Statements Act.
03/27/19
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.
Senate
09/13/19
09/06/19

Type of Measure
Inactive Bill - Vetoed
Majority Vote Required
Non-Appropriation
Fiscal Committee
Non-State-Mandated Local Program
Non-Urgency
Non-Tax levy
Last 5 History Actions
Date Action
01/13/20 Veto sustained.
01/13/20 Stricken from file.
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.
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