BILL NUMBER: SB 1436	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Torres

                        FEBRUARY 21, 2014

   An act to amend Section 70001 of the Financial Code, relating to
financial literacy.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1436, as introduced, Torres. 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 Californians' financial literacy.
   This bill would make a technical, nonsubstantive change to that
law.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 70001 of the Financial Code is amended to read:

   70001.  (a) The California Financial Literacy Fund is hereby
established in the State Treasury. The fund shall be administered by
the Controller.
   (b) The purpose of the fund is to enable partnerships with the
financial services community and governmental and nongovernmental
stakeholders to improve  Californians'   the
 financial literacy  of Californians  .
   (c) Funds not appropriated within 18 months of being contributed
to the fund shall be returned in full to the contributor.