California State Public Bank

August 2020 Update

California State Public Bank Bill AB 310 Moves Forward in 2021

Action Steps to Support AB 310

  1. Individuals: Sign up with California Public Banking Alliance
  2. Organizations: Endorse! Organizational Endorsement Form
  3. Democratic Party Delegates: Endorse Here!

AB 310 Basic Information

AB 310 will provide COVID-19 relief by expanding the lending capacity of the State’s Infrastructure Bank (IBank), and then create a State Public Bank by converting the IBank into a depository institution. The expanded IBank will be able to leverage its capital up to ten times and direct its lending toward a just and equitable economic recovery.

For more information, please download our Basic Flyer and one-page documents devoted to General Information, Labor issues, Green New Deal, Community Banks, Local Government, Small Businesses, or combined file containing all seven pages.

Watch the Press Conference from July 9, 2020: Facebook Video

Legislation Details

AB 310 (NEW for 2021) Legislative Intent

AB 310 (2020) Complete Text and Status

AB 310 (2020) Fact Sheet

AB 310 (2020) FAQ

Organizational Endorsements (2020)

California Public Banking Alliance [Co-sponsor]

California Reinvestment Coalition [Co-sponsor]

UFCW Western States Council (United Food & Commercial Workers) [Co-sponsor]

Lawyers’ Committee for Civil Rights (LCCRSF) [Co-sponsor]

California Progressive Alliance

SEIU California (Service Employees International Union)
Friends of the Earth
Los Angeles County Federation of Labor, AFL-CIO
Public Banking Institute
UFCW Local 770
and many more

Endorsements: City Officials (2020)

Los Angeles Mayor Eric Garcetti

Long Beach Mayor Robert Garcia

Authors and Co-authors (2020)

Assemblymember Miguel Santiago (Los Angeles)

Assemblymember David Chiu (San Francisco)

Assemblymember Buffy Wicks (Berkeley, Richmond)

Assemblymember Ash Kalra (San Jose)

Assemblymember Lorena Gonzalez (Chula Vista)

Assemblymember Mike Gipson (Carson)

Senator Ben Hueso (El Centro, Chula Vista)

Senator Lena Gonzalez (Long Beach)

Senator Scott Weiner (San Francisco)