republic-os/legislation/us/states/ca/20212022/sb-239.md

---
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).