Amended in Assembly March 17, 2016

California Legislature—2015–16 Regular Session

Assembly BillNo. 2546


Introduced by Assembly Member Calderon

February 19, 2016


An actbegin insert to amend Section 70003 of the Financial Code,end insert relating to financial literacy.

LEGISLATIVE COUNSEL’S DIGEST

AB 2546, as amended, Calderon. California Financial Literacybegin delete Fund.end deletebegin insert Fund: advisory committee.end insert

Existing law establishes the California Financial Literacy Fund in the State Treasury to enable partnerships with the financial services community and governmental and nongovernmental stakeholders to improve Californians’ financial literacy.begin insert Existing law authorizes the Controller to convene a financial literacy advisory committee to provide additional oversight of the fund and develop strategies to improve financial literacy.end insert

This bill wouldbegin delete declare the intent of the Legislature to enact legislation to ensure the California Financial Literacy Fund is utilized for the continuing financial education of college students and the public.end deletebegin insert require the Controller, on or before July 1, 2017, to convene one or more meetings of the financial literacy advisory committee.end insert

Vote: majority. Appropriation: no. Fiscal committee: begin deleteno end deletebegin insertyesend insert. State-mandated local program: no.

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

P2    1begin insert

begin insertSECTION 1.end insert  

end insert

begin insertSection 70003 of the end insertbegin insertFinancial Codeend insertbegin insert is amended
2to read:end insert

3

70003.  

begin deleteThe end deletebegin insertOn or before July 1, 2017, the end insertControllerbegin delete mayend deletebegin insert shallend insert
4 convenebegin insert one or more meetings ofend insert a financial literacy advisory
5committee to provide additional oversight of the fund and develop
6strategies to improve financial literacy.begin delete If convened, theend deletebegin insert Theend insert
7 committee shall comply with the Bagley-Keene Open Meeting
8Act (Article 9 (commencing with Section 11120) of Chapter 1 of
9Part 1 of Division 3 of Title 2 of the Government Code).

begin delete
10

SECTION 1.  

It is the intent of the Legislature to enact
11legislation that would ensure the California Financial Literacy
12Fund is utilized for the continuing financial education of college
13students and the public.

end delete


O

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