republic-os/legislation/us/states/ca/20152016/ab-283.md

---
type: "Bill"
title: "Financial affairs."
description: "Existing law prescribes the instruments in, and criteria by which, a local agency, as defined, may invest and deposit its funds, including its surplus funds. Existing law, until January 1, 2017, authorizes, under certain conditions, a local agency to invest up to a certain percentage of its surplus funds in deposits at specified types of financial institutions that use a private sector entity to assist in the placement of deposits, whether those investments are certificates of deposit or in another form. With respect to investments other than a certificate of deposit, existing law limits the percentage of local agency funds that may be invested by any one private sector entity. Existing law, on and after January 1, 2017, limits this authority to invest surplus funds to investments in certificates of deposit."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20152016"
identifier: "AB 283"
citation: "California AB 283 (20152016)"
classification: ["bill"]
subjects: ["Financial affairs."]
status: "enacted"
primary_sponsors: ["Dababneh"]
version_count: 5
action_count: 19
vote_count: 7
first_action: "2015-02-11"
last_action: "2015-08-12"
source: "openstates"
source_identifier: "ocd-bill/e956e818-039f-4460-a150-e65d08448d38"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160AB283"
source_hash: "69e6483918f256e9b84f3cdeeac7c9f4d810ff40436d97836d441aba95094fe1"
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 283 (20152016) — Financial affairs.

Existing law prescribes the instruments in, and criteria by which, a local agency, as defined, may invest and deposit its funds, including its surplus funds. Existing law, until January 1, 2017, authorizes, under certain conditions, a local agency to invest up to a certain percentage of its surplus funds in deposits at specified types of financial institutions that use a private sector entity to assist in the placement of deposits, whether those investments are certificates of deposit or in another form. With respect to investments other than a certificate of deposit, existing law limits the percentage of local agency funds that may be invested by any one private sector entity. Existing law, on and after January 1, 2017, limits this authority to invest surplus funds to investments in certificates of deposit.

## Version chain

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

1. **02/11/15 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160AB283&version=20150AB28399INT)
2. **06/23/15 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160AB283&version=20150AB28398AMD)
3. **08/12/15 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160AB283&version=20150AB28396CHP)
4. **AB283** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160AB283)
5. **07/15/15 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160AB283&version=20150AB28397ENR)

## Votes

- Do pass and be re-referred to the Committee on [Banking and Finance] with recommendation: To Consent Calendar — **9–0** (pass) · lower
- Do pass and be ordered to the Consent Calendar — **7–0** (pass) · upper
- Do pass as amended, but first amend, and re-refer to the Committee on [Governance and Finance] — **7–0** (pass) · upper
- Do pass. To Consent Calendar. — **11–0** (pass) · lower
- AB 283 DABABNEH Consent Calendar Second Day — **80–0** (pass) · lower
- AB 283 DABABNEH Concurrence in Senate Amendments — **79–0** (pass) · lower
- Consent Calendar 2nd — **39–0** (pass) · upper

## Sponsors

- Dababneh — primary (person)

## Timeline

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

- **2015-02-11** Read first time. To print. `reading-1`
- **2015-02-12** From printer. May be heard in committee March 14.
- **2015-02-23** Referred to Coms. on L. GOV. and B. & F. `referral-committee`
- **2015-04-09** From committee: Do pass and re-refer to Com. on B. & F. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (April 8). Re-referred to Com. on B. & F. `referral-committee, committee-passage-favorable, committee-passage`
- **2015-04-14** From committee: Do pass. To Consent Calendar. (Ayes 11. Noes 0.) (April 13). `committee-passage-favorable, committee-passage`
- **2015-04-15** Read second time. Ordered to Consent Calendar. `reading-2, reading-1`
- **2015-04-20** Read third time. Passed. Ordered to the Senate. (Ayes 80. Noes 0. Page 1015.) `reading-3, passage, reading-1`
- **2015-04-20** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2015-05-07** Referred to Coms. on B. & F.I. and GOV. & F. `referral-committee`
- **2015-06-22** From committee: Amend, and do pass as amended and re-refer to Com. on GOV. & F. (Ayes 7. Noes 0.) (June 17). `amendment-introduction, committee-passage, amendment-passage`
- **2015-06-23** Read second time and amended. Re-referred to Com. on GOV. & F. `referral-committee, reading-2, amendment-passage, reading-1`
- **2015-07-01** From committee: Do pass. To Consent Calendar. (Ayes 7. Noes 0.) (July 1). `committee-passage-favorable, committee-passage`
- **2015-07-02** Read second time. Ordered to Consent Calendar. `reading-2, reading-1`
- **2015-07-09** Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 1878.). `reading-3, passage, reading-1`
- **2015-07-09** In Assembly. Concurrence in Senate amendments pending. May be considered on or after July 11 pursuant to Assembly Rule 77.
- **2015-07-13** Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 2353.). `committee-passage-favorable, amendment-passage`
- **2015-08-03** Enrolled and presented to the Governor at 3 p.m.
- **2015-08-12** Approved by the Governor. `executive-signature`
- **2015-08-12** Chaptered by Secretary of State - Chapter 181, Statutes of 2015.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e956e818-039f-4460-a150-e65d08448d38`. Confidence: reported (aggregated from official California legislature records).