Existing law, the Insurance Rate Reduction and Reform Act (enacted by Proposition 103, as approved by the voters at the November 8, 1988, statewide general election) , prohibits a rate from being approved or remaining in effect which is excessive, inadequate, unfairly discriminatory, or otherwise in violation of the applicable provisions of law. Under existing law, an insurer that wishes to change a rate is required to file a complete rate application with the Insurance Commissioner, for which there may be a hearing as prescribed. Existing law authorizes any person to initiate or intervene in any proceeding permitted or established pursuant to these provisions, to challenge actions of the commissioner, and to enforce provisions of the act.
Existing law, the Insurance Rate Reduction and Reform Act (enacted by Proposition 103, as approved by the voters at the November 8, 1988, statewide general election) , prohibits a rate from being approved or remaining in effect which is excessive, inadequate, unfairly discriminatory, or otherwise in violation of the applicable provisions of law. Under existing law, an insurer that wishes to change a rate is required to file a complete rate application with the Insurance Commissioner, for which there may be a hearing as prescribed. Existing law authorizes any person to initiate or intervene in any proceeding permitted or established pursuant to these provisions, to challenge actions of the commissioner, and to enforce provisions of the act.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
AB 2406 BUCHANAN Assembly Third Reading — 75–0 (pass) · lower
Do pass, but re-refer to the Committee on Appropriations. — 8–0 (pass) · upper
Special Consent #14 — 38–0 (pass) · upper
Do pass, to Consent Calendar. — 17–0 (pass) · lower
Do pass as amended and be re-referred to the Committee on Appropriations. — 13–0 (pass) · lower
Sponsors
Buchanan — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2012-02-24 Introduced. To print. introduction
2012-02-26 From printer. May be heard in committee March 27.
2012-02-27 Read first time. reading-1
2012-03-29 Referred to Com. on INS. referral-committee
2012-04-09 From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended. reading-2, amendment-introduction, reading-1, amendment-passage
2012-04-09 Re-referred to Com. on INS. referral-committee
2012-04-19 From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 13. Noes 0.) (April 18). amendment-passage, committee-passage, committee-passage-favorable
2012-04-23 Read second time and amended. reading-2, reading-1, amendment-passage
2012-04-24 Re-referred to Com. on APPR. referral-committee
2012-05-09 From committee: Do pass. To consent calendar. (Ayes 17. Noes 0.) (May 9). committee-passage, committee-passage-favorable
2012-05-10 Read second time. Ordered to consent calendar. reading-2, reading-1
2012-05-10 Ordered to third reading.
2012-05-14 Read third time and amended. Ordered to third reading. (Page 4829.) reading-3, reading-1, amendment-passage
2012-05-17 Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 0. Page 4883.) reading-3, reading-1, passage
2012-05-17 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2012-05-24 Referred to Com. on INS. referral-committee
2012-06-13 From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (June 13). Re-referred to Com. on APPR. referral-committee, committee-passage, committee-passage-favorable
2012-06-25 From committee: Be placed on second reading file pursuant to Senate Rule 28.8. committee-passage
2012-06-26 Read second time. Ordered to third reading. reading-2, reading-1
2012-06-27 Ordered to special consent calendar.
2012-07-02 Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 4225.). reading-3, reading-1, passage
2012-07-02 In Assembly. Ordered to Engrossing and Enrolling. committee-passage
2012-07-06 Enrolled and presented to the Governor at 3:20 p.m.
2012-07-13 Approved by the Governor. executive-signature
2012-07-13 Chaptered by Secretary of State - Chapter 100, Statutes of 2012.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/dafed1c7-5d58-4278-92f5-22653378b63c. Confidence: reported (aggregated from official California legislature records).