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CA AB756
Bill
Status
Failed
2/1/2022
Primary Sponsor
Adrin Nazarian
Click for details
AI Summary
- Requires financial institutions doing business in California to pay a 1% fee on each educational loan made to private persons for financing study in California
- Excludes subsidized loans made through educational institutions from the 1% fee requirement
- Directs all fees collected from financial institutions to the State Treasury for deposit into the California Kids Investment and Development Savings Program Fund
- Requires a 2/3 vote for passage due to constituting a tax increase under California Constitution Article XIII A, Section 3
- Makes an appropriation to support the California Kids Investment and Development Savings Program, which expands access to higher education through savings
Legislative Description
California Kids Investment and Development Savings Program.
Last Action
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
2/1/2022
Committee Referrals
Banking and Finance4/22/2021
Higher Education3/25/2021
Full Bill Text
No bill text available