CA AB2457

Increases the acquisition limit for Sacramento Municipal Utility District's nonstock security holdings from 3 to 6 acquisitions total.

Extends the nonstock security program from January 1, 2025 to January 1, 2035 before the program is repealed.

Authorizes the district's board to hold nonstock security as full or partial consideration for providing services or access to district facilities, in addition to acquisitions from procurement of goods or services.

Requires the board to establish a written policy governing acquisitions that includes conflict-of-interest procedures, valuation methods, approval processes, and safeguards to prevent security acquisition from influencing pricing.

Limits individual nonstock security acquisitions to no more than 3% of the district's annual revenue, with all profits required to benefit the district's ratepayers.