Introducing AB 2243: California State Bank Act!

Introducing AB 2243: California State Bank!

We’re excited to share a soft launch of the California State Bank Act (AB 2243), jointly authored by Assemblymember Matt Haney and Assemblymember Ash Kalra, ahead of our official campaign kick-off next month!

At a time when California is facing budget deficits and rising borrowing costs, this bill creates a structured process to develop a state public bank that can help stretch public dollars further and better support housing, climate, and small business priorities.

AB 2243 establishes a State Bank Commission that will work with independent experts to develop an actionable State Bank Plan. That plan will look at different options, including building on existing infrastructure like IBank or creating a new entity, and lay out what a workable model would require. That includes governance, how it’s capitalized, risk management, how it connects with existing state financing programs, and a five-year business plan. The process also includes public hearings and interagency coordination to ensure the work builds on existing capacity and stakeholder expertise.

A state bank would work in synergy with the local public banks we’re building across California, and help leverage the state’s billions in existing public funds at scale.

Once approved, the State Bank Plan becomes the state’s official roadmap to building a public bank!

We’re grateful to have strong co-sponsors helping lead this effort, including End Poverty in California (EPIC), The Greenlining Institute, 350 Sacramento, Indivisible California: StateStrong, and Friends of the Earth, along with over 80 organizations supporting AB 2243 pre-launch.

SIGN ON TO ENDORSE CA STATE BANK (AB 2243) HERE!

Are you a CA ADEM (Assembly District Election Meeting) Delegate? Endorse here!

Call to Action!

We’re heading to the Capitol to push for the California State Bank (AB 2243), and we need you with us as we work to build a new banking system that supports Main Street!

This Thursday, join us at the State Capitol in Sacramento, March 26th from 9am to 11am for the AB 2243 Lobby Day and meet with legislators and staffers as we prepare for our Assembly committee hearings.

Sign up on our Lobby Day form, and coalition organizers will reach out!
https://forms.gle/2S6ADfDje1RJ8yrE7

Join the Lobby Day co-sponsors & endorsers team: California Public Banking Alliance, The Greenlining Institute, End Poverty in California, 350 Sacramento, Sacramento Climate Coalition, Sacramento Area Congregations Together (SacACT), Indivisible California: StateStrong

Save the Date!

Mark your calendars! Join us at the State Capitol on Wednesday, April 22 (Earth Day) at 1pm for the official campaign launch with joint authors Assemblymembers Matt Haney and Ash Kalra, coalition leaders, endorsers, and the statewide public banking coalition. Details will be announced soon…

We’re marking Earth Day by kicking off this next phase of work together on building a more sustainable, people-centered financial system!