BILL ANALYSIS Ó AB 2562 Page 1 ASSEMBLY THIRD READING AB 2562 (Committee on Veterans Affairs) As Introduced February 19, 2016 Majority vote ------------------------------------------------------------------ |Committee |Votes|Ayes |Noes | | | | | | | | | | | | | | | | |----------------+-----+----------------------+--------------------| |Veterans |9-0 |Irwin, Chávez, | | |Affairs | |Achadjian, Alejo, | | | | |Brown, Daly, Frazier, | | | | |Mathis, Salas | | | | | | | | | | | | ------------------------------------------------------------------ SUMMARY: Deletes references to the date a reservist is called to active duty, in both the definition of a reservist and the payment deferral provisions, thereby making the above-described benefits available to any reservist who otherwise meets the definition. EXISTING LAW: Authorizes a reservist, as defined, who is called to active duty on and after January 1, 2014, to defer payments on mortgages, credit cards, retail installment accounts and contracts, real property taxes and assessments, vehicle leases, AB 2562 Page 2 and obligations owed to utility companies, for the period of active duty plus 60 calendar days, or 180 days, whichever is the lesser, as specified. Also authorizes similar provisions to a reservist who was called to active duty before January 1, 2014, as a part of the Iraq and Afghanistan conflicts. FISCAL EFFECT: Unknown COMMENTS: According to the author, the current wording of the law is confusing to financial institutions. The current wording is a result of drafting to make it abundantly clear that the status quo would be preserved until the effective date of AB 526 (Melendez), Chapter 236, Statutes of 2013, which enhanced certain financial protections for servicemembers. This bill removes the obsolete section of existing code which covered the period before January 1, 2014 and removes the obsolete references to January 1, 2014, since that date has passed. The obsolete language renders this section confusing. This bill does not expand the universe of eligible servicemembers in terms of time or conflict or any other way. Analysis Prepared by: John Spangler / V.A. / (916) 319-3550 FN: 0002748 AB 2562 Page 3