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CA AB2128

Bill

Status

Passed

9/17/2014

Primary Sponsor

Richard Gordon

Click for details

Origin

State Assembly

2013-2014 Session

AI Summary

  • Requires admitted insurers with annual California premiums of $100 million or more to report community development investments, infrastructure investments, and green investments to the Insurance Commissioner by July 1, 2016, covering calendar years 2013-2015.

  • Mandates the Department of Insurance publish aggregate data on insurer community development investments and COIN's analysis of investment opportunities on its website by December 31, 2016.

  • Removes the requirement for insurers to biennially review and resubmit policy statements on community development investments, retaining only the initial filing requirement.

  • Modifies the California Organized Investment Network Advisory Board to require minimum three or more meetings annually instead of quarterly meetings, and extends the board's authorization from December 1, 2015 to January 1, 2020.

  • Extends the repeal date of community development investment reporting provisions from January 1, 2015 to January 1, 2020.

Legislative Description

Insurer investments: community development.

Last Action

Chaptered by Secretary of State - Chapter 384, Statutes of 2014.

9/17/2014

Committee Referrals

Appropriations6/30/2014
Insurance5/8/2014
Rules4/21/2014
Appropriations4/2/2014
Insurance3/6/2014

Full Bill Text

No bill text available