20250AB__242598AMD INTRODUCED 2026-02-20 AMENDED_ASSEMBLY 2026-04-16 2025 AB AMD Introduced by Assembly Member Chen LEAD_AUTHOR ASSEMBLY Chen

An act to add Division 27 (commencing with

Section 110005) to the Financial Code, relating to financial institutions. financial institutions Department of Financial Protection and Innovation: budget reports. Existing law provides for the licensure and regulation of various financial institutions by the Commissioner of Financial Protection and Innovation. Some of those laws require the commissioner to charge and collect specified fees and assessments.

This bill would require the commissioner to, on or before March 1, 2027, and annually thereafter, report to the Joint Legislative Budget Committee, the Senate Banking and Financial Institutions Committee, and the Assembly Banking and Finance Committee the projected and actual revenues and expenditures, including the difference between revenues and expenditures, for the immediately preceding fiscal year for various laws enforced by the commissioner, as specified.

This bill would require, for each of those laws that authorizes the Department of Financial Protection and Innovation to issue and collect assessments and charges on a pro rata basis to recover the actual costs of administering that law, the department to include in any report pursuant to the bill the method of determining those assessments and charges. MAJORITY NO YES NO NO NO NO NO NO NO NO The people of the State of California do enact as follows:

SECTION 1. Division 27 (commencing with

Section 110005) is added to the Financial Code , to read: 27. Budget Reports 110005. (

a) Except as provided in subdivision (b), on or before March 1, 2027, and annually thereafter, the commissioner shall report to the Joint Legislative Budget Committee, the Senate Banking and Financial Institutions Committee, and the Assembly Banking and Finance Committee the projected and actual revenues and expenditures, including the difference between revenues and expenditures, for the immediately preceding fiscal year for all of the following laws administered by the department:

(1) Part 3 (commencing with

Section 25200) of Division of Title of the Corporations Code.

(2) Division 5 (commencing with 31000) of Title of the Corporations Code.

(3) Division 20 (commencing with

Section 50000).

(4) Division 9 (commencing with

Section 22000).

(5) Division 6 (commencing with

Section 17000).

(6) Division 10 (commencing with

Section 23000).

(7) Division 1.1 (commencing with

Section 1000).

(8) Division 1.2 (commencing with

Section 2000).

(9) Division 24 (commencing with

Section 90000).

(10) Division 25 (commencing with

Section 100000).

(11) Division 1.25 (commencing with

Section 3101). (

b) The first report required under paragraph (11) of subdivision (

a) shall be submitted on or before February 1, 2027, and subsequent annual reports shall be provided by March of each year. (

c) The projected and actual revenues reported pursuant to this

section shall be categorized and reported as exam or nonexam revenues. Any nonexam revenues shall be reported in subcategories containing totals for annual assessment revenue, application and licensing fees, renewal fees, fingerprinting fees, penalties and settlement revenue, income from the Surplus Money Investment Fund (SMIF), investigation fees, delinquent fees, and cost recovery. (

d) For each division listed in subdivision (

a) that authorizes the Department of Financial Protection and Innovation to issue and collect assessments and charges on a pro rata basis to recover the actual costs of administering that division, the department shall include in any report pursuant to this

section the method of determining those assessments and charges. <caml:Num>SECTION 1.</caml:Num><caml:ActionLine action="IS_AMENDED" xlink:href="urn:caml:codes:FIN:caml#xpointer(%2Fcaml%3ALawDoc%2Fcaml%3ACode%2Fcaml%3ALawHeading%5B%40type%3D'DIVISION'%20and%20caml%3ANum%3D'6.'%5D%2Fcaml%3ALawHeading%5B%40type%3D'CHAPTER'%20and%20caml%3ANum%3D'2.'%5D%2Fcaml%3ALawSection%5Bcaml%3ANum%3D'17208.'%5D)" xlink:label="fractionType: LAW_SECTION" xlink:type="locator">Section of the <caml:DocName>Financial Code</caml:DocName> is amended to read:</caml:ActionLine><caml:Fragment><caml:LawSection id="id_CA9931AE-11F3-42C8-A53C-4B3092BBB3F3"><caml:Num>17208.</caml:Num><caml:LawSectionVersion id="id_00E0784D-588E-45A5-85DD-FD93635962C5"><caml:Content><xhtml:p>(a)<xhtml:span class="EnSpace"/>All money received by the commissioner shall be paid by the commissioner into the State Treasury to the credit of the State Corporations Fund for the sole purpose of administering and enforcing this division.</xhtml:p><xhtml:p>(b)<xhtml:span class="EnSpace"/>The commissioner shall annually submit a report to the Legislature pursuant to

Section of the Government Code that provides a detailed budget and accounting of the commissioner’s oversight, implementation, and enforcement of this division.</xhtml:p></caml:Content></caml:LawSectionVersion></caml:LawSection></caml:Fragment></caml:BillSection>"?>