Bill > AB2243

This bill expresses the Legislature's intent to create new public banking tools and potentially a state-owned depository bank or expand the role of the California Infrastructure and Economic Development Bank (a state entity that finances economic development projects) to hold public money, provide financing for public projects, and streamline state financial activities. The goal is to save money, lower borrowing costs, reduce administrative expenses, and support state priorities like affordable housing, climate resilience, local governments, and small businesses, while ensuring transparency, accountability, and public input. The bill also aims to provide assistance to local governments looking to establish their own public banks.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB2243