---
type: "Bill"
title: "California Organized Investment Network."
description: "Existing laws governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, authorize, until January 1, 2012, a credit in an amount equal to 20% of a qualified investment, as defined, made into a community development financial institution, as defined, but not to exceed, in the aggregate amount under all those laws, $10,000,000 per year."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20112012"
identifier: "AB 624"
citation: "California AB 624 (20112012)"
classification: ["bill"]
subjects: ["California Organized Investment Network."]
status: "enacted"
primary_sponsors: ["John A. Pérez"]
version_count: 8
action_count: 27
vote_count: 9
first_action: "2011-02-16"
last_action: "2011-10-03"
source: "openstates"
source_identifier: "ocd-bill/019e1f80-1475-4836-a8a4-e40df2c16985"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120AB624"
source_hash: "58ae77732de4a1e6d873699dc041103ef296f89e57e737dde55909feedd72eec"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California AB 624 (20112012) — California Organized Investment Network.

Existing laws governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, authorize, until January 1, 2012, a credit in an amount equal to 20% of a qualified investment, as defined, made into a community development financial institution, as defined, but not to exceed, in the aggregate amount under all those laws, $10,000,000 per year.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **02/16/11 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB624&version=20110AB62499INT)
2. **03/31/11 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB624&version=20110AB62498AMD)
3. **06/21/11 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB624&version=20110AB62497AMD)
4. **07/06/11 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB624&version=20110AB62496AMD)
5. **08/15/11 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB624&version=20110AB62495AMD)
6. **10/03/11 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB624&version=20110AB62493CHP)
7. **AB624** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120AB624)
8. **09/12/11 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB624&version=20110AB62494ENR)

## Votes

- Do pass as amended, and re-refer to the Committee on Appropriations. — **9–0** (pass) · upper
- Do pass and be re-referred to the Committee on Appropriations. — **7–0** (pass) · lower
- Do pass. — **9–0** (pass) · upper
- Do pass as amended and be re-referred to the Committee on Revenue and Taxation. — **10–0** (pass) · lower
- AB 624 PÉREZ, J. Concurrence in Senate Amendments — **73–2** (pass) · lower
- Placed on Appropriations Suspense file. — **8–0** (pass) · upper
- AB 624 PÉREZ, J. Assembly Third Reading — **75–2** (pass) · lower
- Do pass. — **17–0** (pass) · lower
- 3rd Reading AB624 John A. Pérez By Lieu — **37–1** (pass) · upper

## Sponsors

- John A. Pérez — primary (person)
- Alejo — coauthor (person)
- Blumenfield — author (person)
- Bonnie Lowenthal — coauthor (person)
- Carter — coauthor (person)
- Chesbro — coauthor (person)
- Dickinson — coauthor (person)
- Gordon — coauthor (person)
- Ma — coauthor (person)
- Solorio — principal coauthor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2011-02-16** Read first time. To print. `reading-1`
- **2011-02-17** From printer. May be heard in committee March 19.
- **2011-03-10** Referred to Coms. on INS. and REV. & TAX. `referral-committee`
- **2011-03-30** From committee: Do pass as amended and re-refer to Com. on REV. & TAX. (Ayes 10. Noes 0.) (March 30). `amendment-passage, committee-passage, committee-passage-favorable`
- **2011-03-31** Read second time and amended. `reading-2, reading-1, amendment-passage`
- **2011-04-04** Re-referred to Com. on REV. & TAX. `referral-committee`
- **2011-04-25** In committee: Set, first hearing. Referred to REV. & TAX. suspense file. `referral-committee`
- **2011-05-03** From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (May 2). Re-referred to Com. on APPR. `referral-committee, committee-passage, committee-passage-favorable`
- **2011-05-18** In committee: Set, first hearing. Referred to APPR. suspense file. `referral-committee`
- **2011-05-27** From committee: Do pass. (Ayes 17. Noes 0.) (May 27). `committee-passage, committee-passage-favorable`
- **2011-05-27** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2011-05-31** Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 2. Page 1651.) `reading-3, reading-1, passage`
- **2011-05-31** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2011-06-08** Referred to Com. on GOV. & F. `referral-committee`
- **2011-06-21** From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on GOV. & F. `reading-2, amendment-introduction, reading-1, amendment-passage, referral-committee`
- **2011-07-05** From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (June 29). `amendment-passage, committee-passage, committee-passage-favorable`
- **2011-07-06** Read second time and amended. Re-referred to Com. on APPR. `reading-2, reading-1, amendment-passage, referral-committee`
- **2011-08-15** From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on APPR. `reading-2, amendment-introduction, reading-1, amendment-passage, referral-committee`
- **2011-08-15** In committee: Referred to APPR. suspense file. `referral-committee`
- **2011-08-25** From committee: Do pass. (Ayes 9. Noes 0.) (August 25). `committee-passage, committee-passage-favorable`
- **2011-08-29** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2011-08-30** Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 1. Page 2165.). `reading-3, reading-1, passage`
- **2011-08-31** In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 2 pursuant to Assembly Rule 77.
- **2011-09-06** Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 73. Noes 2. Page 2892.). `committee-passage-favorable, amendment-passage`
- **2011-09-19** Enrolled and presented to the Governor at 1:30 p.m.
- **2011-10-03** Approved by the Governor. `executive-signature`
- **2011-10-03** Chaptered by Secretary of State - Chapter 436, Statutes of 2011.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/019e1f80-1475-4836-a8a4-e40df2c16985`. Confidence: reported (aggregated from official California legislature records).