CA AB1480

Requires any official in Orange County appointed or elected on or after January 1, 2026, with authority over the Orange County Investment Fund to meet the same minimum qualifications as the Treasurer-Tax Collector

Requires members of the Audit Oversight Committee appointed on or after January 1, 2026, to meet the same qualifications as the prior Treasury Oversight Committee members

Mandates the County Executive Office prepare an annual statement of Orange County Investment Fund assets by July 1, 2026, and each July 1 thereafter, to be made public and submitted to fund investors and the Legislature

Responds to the Orange County Board of Supervisors' recent transfer of investment fund authority from the elected Treasurer-Tax Collector to the County Chief Executive Officer

Declares a special statute is necessary due to Orange County's history of mismanagement and the 1994 bankruptcy, which this legislation aims to prevent from recurring