republic-os/legislation/us/states/ca/20112012/ab-1408.md

---
type: "Bill"
title: "General obligation bonds."
description: "The State General Obligation Bond Law generally provides for a procedure that may be adopted by other acts, with any necessary modifications, to authorize the issuance and sale of state general obligation bonds, including general obligation bonds to be issued as zero coupon or capital appreciation bonds, and to provide for the repayment of those bonds. Existing law requires, with regard to a resolution determining that the sale of all or part of the bonds is necessary or desirable, a specification that the denomination of the bonds to be sold shall be $1,000 or multiples of that sum."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20112012"
identifier: "AB 1408"
citation: "California AB 1408 (20112012)"
classification: ["bill"]
subjects: ["General obligation bonds."]
status: "enacted"
primary_sponsors: ["Committee on Banking and Finance"]
version_count: 5
action_count: 19
vote_count: 5
first_action: "2011-03-09"
last_action: "2011-09-07"
source: "openstates"
source_identifier: "ocd-bill/e37c1f33-9939-4d28-8a7b-095b6de5d7ee"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120AB1408"
source_hash: "f394f4f248df493a6a1bcfeef0a00b19c9c0caa959c9f55d0d608d651f0cf41e"
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 1408 (20112012) — General obligation bonds.

The State General Obligation Bond Law generally provides for a procedure that may be adopted by other acts, with any necessary modifications, to authorize the issuance and sale of state general obligation bonds, including general obligation bonds to be issued as zero coupon or capital appreciation bonds, and to provide for the repayment of those bonds. Existing law requires, with regard to a resolution determining that the sale of all or part of the bonds is necessary or desirable, a specification that the denomination of the bonds to be sold shall be $1,000 or multiples of that sum.

## Version chain

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

1. **03/09/11 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB1408&version=20110AB140899INT)
2. **05/02/11 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB1408&version=20110AB140898AMD)
3. **09/07/11 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB1408&version=20110AB140896CHP)
4. **AB1408** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120AB1408)
5. **08/24/11 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB1408&version=20110AB140897ENR)

## Votes

- Do pass as amended and be re-referred to the Committee on Appropriations. — **9–1** (pass) · lower
- Do pass. — **12–4** (pass) · lower
- AB 1408 B. & F. Assembly Third Reading By ENG — **58–19** (pass) · lower
- Do pass, but re-refer to the Committee on Appropriations. — **6–3** (pass) · upper
- 3rd Reading AB1408 Committee on B. & F. (Eng) By Vargas — **27–7** (pass) · upper

## Sponsors

- Committee on Banking and Finance — primary (person)

## Timeline

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

- **2011-03-09** Read first time. To print. `reading-1`
- **2011-03-10** From printer. May be heard in committee April 9.
- **2011-03-21** Referred to Com. on B. & F. `referral-committee`
- **2011-04-28** From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (April 25). `amendment-passage, committee-passage, committee-passage-favorable`
- **2011-05-02** Read second time and amended. `reading-2, reading-1, amendment-passage`
- **2011-05-03** Re-referred to Com. on APPR. `referral-committee`
- **2011-05-12** From committee: Do pass. (Ayes 12. Noes 4.) (May 11). `committee-passage, committee-passage-favorable`
- **2011-05-16** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2011-05-23** Read third time. Passed. Ordered to the Senate. (Ayes 58. Noes 19. Page 1500.) `reading-3, reading-1, passage`
- **2011-05-23** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2011-06-02** Referred to Com. on GOV. & F. `referral-committee`
- **2011-06-29** From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 3.) (June 29). Re-referred to Com. on APPR. `referral-committee, committee-passage, committee-passage-favorable`
- **2011-08-15** From committee: Be placed on second reading file pursuant to Senate Rule 28.8. `committee-passage`
- **2011-08-16** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2011-08-22** Read third time. Passed. Ordered to the Assembly. (Ayes 27. Noes 7. Page 2011.). `reading-3, reading-1, passage`
- **2011-08-22** In Assembly. Ordered to Engrossing and Enrolling. `committee-passage`
- **2011-08-26** Enrolled and presented to the Governor at 3 p.m.
- **2011-09-07** Approved by the Governor. `executive-signature`
- **2011-09-07** Chaptered by Secretary of State - Chapter 282, Statutes of 2011.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e37c1f33-9939-4d28-8a7b-095b6de5d7ee`. Confidence: reported (aggregated from official California legislature records).