BILL NUMBER: AB 863	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Niello

                        FEBRUARY 26, 2009

   An act to amend Section 13070 of the Government Code, relating to
the Department of Finance.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 863, as introduced, Niello. Department of Finance: supervisory
powers.
   Under existing law, the Department of Finance has general powers
of supervision over all matters concerning the financial and business
policies of the state, and whenever it deems it necessary, or at the
instance of the Governor, the department is required to institute or
cause the institution of investigations and proceedings as it deems
proper to conserve the rights and interests of the state.
   This bill would make technical, nonsubstantive changes to this
provision.
   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 13070 of the Government Code is amended to
read:
   13070.  The department has general powers of supervision over all
matters concerning the financial and business policies of the
 State   state  and whenever it deems it
necessary, or at the instance of the Governor, shall institute or
cause the institution of  such  investigations and
proceedings as it deems proper to conserve the rights and interests
of the  State   state  .