republic-os/legislation/us/states/ca/20172018/ab-1770.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	Local government: investments.	Existing law regulates the investment of public funds by local agencies, as defined. Existing law authorizes the legislative body of a local agency, as specified, that has money in a sinking fund or in its treasury not required for immediate needs to invest the money as it deems wise or expedient in certain securities and financial instruments. In this regard, existing law authorizes investment in a mortgage passthrough security, collateralized mortgage obligation, mortgage-backed or other pay-through bond, equipment lease-backed certificate, consumer receivable passthrough certificate, or consumer receivable-backed bond that has a maximum of 5 years' maturity. Existing law further requires that these investments be issued by an issuer rated "A" or its equivalent or better for the issuer's debt as provided by a nationally recognized statistical rating organization (NRSRO) and rated in a rating category of "AA" or its equivalent or better by a NRSRO.	us/states/ca	California Legislature	20172018	AB 1770	California AB 1770 (20172018)	bill	Local government: investments.	enacted	Steinorth	4	15	4	2018-01-04	2018-09-06	openstates	ocd-bill/21f5519a-445d-44ad-94fd-0f9fb2371181	http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201720180AB1770	6905da6ea5d1bbaa9f262b4df91d22e8e1f3fd835dfedbd3f62ab4b218c885ab	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-ca

California AB 1770 (20172018) — Local government: investments.

Existing law regulates the investment of public funds by local agencies, as defined. Existing law authorizes the legislative body of a local agency, as specified, that has money in a sinking fund or in its treasury not required for immediate needs to invest the money as it deems wise or expedient in certain securities and financial instruments. In this regard, existing law authorizes investment in a mortgage passthrough security, collateralized mortgage obligation, mortgage-backed or other pay-through bond, equipment lease-backed certificate, consumer receivable passthrough certificate, or consumer receivable-backed bond that has a maximum of 5 years' maturity. Existing law further requires that these investments be issued by an issuer rated "A" or its equivalent or better for the issuer's debt as provided by a nationally recognized statistical rating organization (NRSRO) and rated in a rating category of "AA" or its equivalent or better by a NRSRO.

Version chain

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

1. 01/04/18 - Introduced (filed) — source
2. 09/06/18 - Chaptered (committee substitute) — source
3. AB1770 (committee substitute) — source
4. 08/24/18 - Enrolled (enrolled) — source

Votes

• 3rd Reading AB1770 Steinorth By Leyva — 38–0 (pass) · upper
• AB 1770 STEINORTH Consent Calendar Second Day — 71–0 (pass) · lower
• Do pass — 7–0 (pass) · upper
• Do pass. To Consent Calendar. — 9–0 (pass) · lower

Sponsors

• Steinorth — primary (person)

Timeline

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

• 2018-01-04 Read first time. To print. reading-1
• 2018-01-05 From printer. May be heard in committee February 4.
• 2018-01-22 Referred to Com. on L. GOV. referral-committee
• 2018-04-12 From committee: Do pass. To Consent Calendar. (Ayes 9. Noes 0.) (April 11). committee-passage-favorable, committee-passage
• 2018-04-16 Read second time. Ordered to Consent Calendar. reading-2, reading-1
• 2018-04-19 Read third time. Passed. Ordered to the Senate. (Ayes 71. Noes 0. Page 4791.) reading-3, passage, reading-1
• 2018-04-19 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
• 2018-05-03 Referred to Com. on GOV. & F. referral-committee
• 2018-06-20 From committee: Do pass. (Ayes 7. Noes 0.) (June 20). committee-passage-favorable, committee-passage
• 2018-06-21 Read second time. Ordered to third reading. reading-2, reading-1
• 2018-08-23 Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 5629.). reading-3, passage, reading-1
• 2018-08-23 In Assembly. Ordered to Engrossing and Enrolling. committee-passage
• 2018-08-28 Enrolled and presented to the Governor at 3 p.m.
• 2018-09-06 Approved by the Governor. executive-signature
• 2018-09-06 Chaptered by Secretary of State - Chapter 271, Statutes of 2018.

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/21f5519a-445d-44ad-94fd-0f9fb2371181. Confidence: reported (aggregated from official California legislature records).