--- type: "Bill" title: "Government finance: surplus investments: savings and loan associations or credit unions." description: "(1) Existing law specifies the types of securities that are eligible for the investment of surplus state funds, which include bonds or interest-bearing notes on obligations that are guaranteed as to principal and interest by a federal agency of the United States." jurisdiction: "us/states/ca" legislature: "California Legislature" session: "20212022" identifier: "SB 239" citation: "California SB 239 (20212022)" classification: ["bill"] subjects: ["Government finance: surplus investments: savings and loan associations or credit unions."] status: "enacted" primary_sponsors: ["Committee on Banking and Financial Institutions"] version_count: 5 action_count: 27 vote_count: 6 first_action: "2021-01-21" last_action: "2021-10-07" source: "openstates" source_identifier: "ocd-bill/7770a1d9-43ea-42a5-8496-505aad026c0b" source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202120220SB239" source_hash: "434e781ddeda542e7fa29616c12fc01fe3cf0569280571e0c658b6d93e2aa0b1" 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 SB 239 (20212022) — Government finance: surplus investments: savings and loan associations or credit unions. (1) Existing law specifies the types of securities that are eligible for the investment of surplus state funds, which include bonds or interest-bearing notes on obligations that are guaranteed as to principal and interest by a federal agency of the United States. ## Version chain The bill's text revisions, in order — the diff chain from filing to enrollment. 1. **01/21/21 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202120220SB239&version=20210SB23999INT) 2. **08/19/21 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202120220SB239&version=20210SB23998AMD) 3. **10/07/21 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202120220SB239&version=20210SB23996CHP) 4. **SB239** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202120220SB239) 5. **09/01/21 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=202120220SB239&version=20210SB23997ENR) ## Votes - Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar — **9–0** (pass) · upper - Unfinished Business SB239 B. & F.I. (Limón) Concurrence — **39–0** (pass) · upper - SB 239 B. & F.I. Senate Third Reading By GRAYSON — **69–0** (pass) · lower - Do pass. To Consent Calendar. — **13–0** (pass) · lower - Consent Calendar SB239 B. & F.I. — **38–0** (pass) · upper - Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar — **12–0** (pass) · lower ## Sponsors - Committee on Banking and Financial Institutions — primary (person) ## Timeline The legislative action history — every referral, reading, and vote. - **2021-01-21** Introduced. Read first time. To Com. on RLS. for assignment. To print. `introduction, reading-1` - **2021-01-22** From printer. May be acted upon on or after February 21. - **2021-02-03** Referred to Com. on B. & F.I. `referral-committee` - **2021-02-18** Set for hearing March 10. - **2021-03-10** From committee: Do pass and re-refer to Com. on APPR with recommendation: To consent calendar. (Ayes 9. Noes 0. Page 455.) (March 10). Re-referred to Com. on APPR. `committee-passage, committee-passage-favorable, referral-committee` - **2021-03-12** Set for hearing March 22. - **2021-03-22** From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar. `committee-passage, reading-2` - **2021-03-23** Read second time. Ordered to consent calendar. `reading-1, reading-2` - **2021-03-25** Read third time. Passed. (Ayes 38. Noes 0. Page 612.) Ordered to the Assembly. `passage, reading-1, reading-3` - **2021-03-25** In Assembly. Read first time. Held at Desk. `reading-1` - **2021-05-13** Referred to Com. on B. & F. `referral-committee` - **2021-06-09** June 14 hearing postponed by committee. - **2021-06-25** June 28 hearing postponed by committee. - **2021-06-28** Joint Rule 62(a) suspended. (Ayes 56. Noes 19. Page 2124.) - **2021-06-29** From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 12. Noes 0.) (June 29). Re-referred to Com. on APPR. `committee-passage, committee-passage-favorable, referral-committee` - **2021-07-14** From committee: Do pass. Ordered to consent calendar. (Ayes 13. Noes 0.) (July 14). `committee-passage, committee-passage-favorable` - **2021-07-15** Read second time. Ordered to consent calendar. `reading-1, reading-2` - **2021-08-16** From consent calendar on motion of Assembly Member Reyes. - **2021-08-16** Ordered to third reading. - **2021-08-19** Read third time and amended. `amendment-passage, reading-1, reading-3` - **2021-08-19** Ordered to third reading. - **2021-08-23** Read third time. Passed. (Ayes 69. Noes 0. Page 2478.) Ordered to the Senate. `passage, reading-1, reading-3` - **2021-08-26** In Senate. Concurrence in Assembly amendments pending. - **2021-08-30** Assembly amendments concurred in. (Ayes 39. Noes 0. Page 2210.) Ordered to engrossing and enrolling. `amendment-passage, committee-passage-favorable` - **2021-09-03** Enrolled and presented to the Governor at 2 p.m. - **2021-10-07** Approved by the Governor. `executive-signature` - **2021-10-07** Chaptered by Secretary of State. Chapter 635, Statutes of 2021. `became-law` ## Source OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/7770a1d9-43ea-42a5-8496-505aad026c0b`. Confidence: reported (aggregated from official California legislature records).