2010 Legislation

Assembly Bill

AB 1650 (Feuer) – Public Contracts: Investing in Iranian Energy Sector

Prohibits a person, as defined, that is involved in investment activities in the energy sector in Iran, from entering into a contract with a public entity for goods and services. Stipulates that a state agency must require a company that submits a bid to self-certify that it is not a scrutinized person. Permits termination of a contract for false certification and requires the Attorney General to determine whether to bring civil actions to recover costs.

  • Version: Chaptered (Chapter 573, Statutes of 2010)
  • Sponsor: Author
  • Location: Signed by Governor
  • Board Position: Neutral, if amended
Assembly Bill

AB 1743 (Hernandez) – Placement Agents

Prohibits a person from acting as a placement agent in connection with any potential  investment made by a state public retirement system unless that person is registered as a lobbyist and is in full compliance with the Political Reform Act of 1974, as that act applies to lobbyists.

  • Version: Chaptered (Chapter 668, Statutes of 2010)
  • Sponsor: CalPERS, State Controller, State Treasurer
  • Location: Signed by Governor
  • Board Position: Support

CalSTRS Analysis:

As amended 8/17/2010

As amended 3/17/2010

Assembly Bill

AB 1764 (Portantino) – State Employee Salary Freeze

Prohibits a person employed by the state whose base salary on or after the effective date of the bill is greater than $150,000 per year from receiving a salary increase while employed in the same position or classification.

  • Version: Amended 3/10/10
  • Sponsor: Author
  • Location: Assembly Appropriations Committee
  • Board Position: N/A

 

Assembly Bill

AB 1899 (Eng) – Reporting Transparency in Government Website

Requires all state agencies, and specifically, the Department of General Services and the Office of the State Chief Information Officer, to post specified audits and contracts to the state’s Reporting Transparency in Government web site. In addition, requires the Governor’s Office to post every Statement of Economic Interest and travel expense claim for its senior staff, agency secretaries and undersecretaries and department heads to the same web site.

  • Version: Enrolled 9/8/10
  • Sponsor: Californians Aware SEIU, Local 1000
  • Location: Vetoed by Governor
  • Board Position: Neutral
Assembly Bill

AB 1913 (Davis) – Emerging Investment Managers

Requires the board, beginning January 1, 2012, to report annually to the Legislature the ethnicity and gender of emerging investment managers, as defined, who participate in managing its investment portfolio. Requires the board to develop and include in the report plans and strategies to increase the participation of emerging investment managers until they manage at least 10 percent of the board’s actively managed portfolio.

Assembly Bill

AB 2142 (Gilmore) – CalSTRS Service Credit

Makes a technical, nonsubstantive change to the provisions that require service in excess of 1.000 year be credited to the Defined Benefit Supplement Program, as they apply to members who performed service prior to July 1, 1956.

  • Version: Introduced 2/18/10
  • Sponsor: Author
  • Location: Assembly Rules Committee
  • Board Position: N/A
Assembly Bill

AB 2337 (Ammiano) – Predatory Investment Practices

Prohibits CalSTRS and CalPERS from investing funds in a company engaged in predatory investment practices, as defined, within rent-regulated housing.

  • Version: Amended 6/22/10
  • Sponsor: East Palo Alto Fair Rent Coalition, Tenants Together
  • Location: Senate PE&R Committee
  • Board Position: Support, if amended
Assembly Bill

AB 2457 (Salas) – Financial Literacy

Establishes the California Financial Literacy Fund in the State Treasury and authorizes the Controller to administer the fund for the purposes of supporting partnerships with the financial services community and governmental and nongovernmental stakeholders to improve California’s financial literacy.

  • Version: Enrolled 9/2/10
  • Sponsor: State Controller; New America Foundation
  • Location: Vetoed by the Governor
  • Board Position: Support

CalSTRS Analysis:

As amended 5/28/2010

Assembly Bill

AB 2603 (Gaines) – State Agency Regulations

Enacts the Smart Regulation Act, which requires a state agency to determine how many regulations it imposes and reduce the total number of regulations it has identified. Also requires that any new regulation proposed by an agency also eliminate another regulation.

  • Version: Amended 4/12/10
  • Sponsor: Author
  • Location: Assembly B&P Committee
  • Board Position: N/A
Assembly Bill

ABX8 5 (Budget) – Change in General Fund Payment Dates

Revises the transfer dates of General Fund revenue to the Supplemental Benefit Maintenance Account in the Teachers’ Retirement Fund, and specifies that each payment be 50 percent of the annual appropriation. Also establishes dates for the quarterly payments to the Teachers’ Retirement Fund for the Defined Benefit Program, which is continuously appropriated from the General Fund.

  • Version: Chaptered (Chapter 1, Statutes of 2010, Eighth Extraordinary Session)
  • Sponsor: Author
  • Location: Signed by Governor
  • Board Position: N/A
Assembly Bill

ABX8 14 (Budget) – Modification of General Fund Payment Dates

Among other things, amends Government Code Section 16324 to delete an extraneous cross reference to CalSTRS, thereby removing CalSTRS from the provisions established by Section 16324, as added by Chapter 1, Statutes of 2010, Eighth Extraordinary Session.

  • Version: Chaptered (Chapter 10, Statutes of 2010, Eighth Extraordinary Session)
  • Sponsor: Author
  • Location: Signed by Governor
  • Board Position: N/A

 

Senate Bill

SB 1425 (Simitian) – Determination of Final Compensation

Provides that any change in salary, compensation or remuneration made for the principal purpose of enhancing a member’s benefits is not included in the calculation of a member’s final compensation when determining the member’s defined benefit.

  • Version: Enrolled 9/2/10
  • Sponsor: Author
  • Location: Vetoed by Governor
  • Board Position: Sponsor, if amended

CalSTRS Analysis:

As amended 8/19/2010

As amended 5/4/2010

Senate Bill

SBX8 5 (B&FR) – Change in General Fund Payment Dates

Revises the transfer dates of General Fund revenue to the Supplemental Benefit Maintenance Account in the Teachers’ Retirement Fund, and specifies that each payment be 50 percent of the annual appropriation. Also establishes dates for the quarterly payments to the Teachers’ Retirement Fund for the Defined Benefit Program, which is continuously appropriated from the General Fund.

  • Version: Amended 2/22/10
  • Sponsor: Author
  • Location: Assembly
  • Board Position: N/A