CA AB2243

Expresses legislative intent to consider creating a state-owned depository bank or expanding the California Infrastructure and Economic Development Bank to hold public deposits and provide public-purpose financing

Proposes establishing a phased process for developing public banking tools aimed at lowering borrowing costs, reducing state administrative costs, and centralizing state financial activities

Would support financing for affordable housing, climate resilience, local governments, and small businesses to advance equity and economic development

Requires any state bank expansion to promote transparency and accountability through public hearings and stakeholder engagement

Provides for technical assistance and financial support to help local public banks form, including viability studies, business plans, and shared resources like risk pooling and compliance capacity