California AB2425: Department of Financial Protection and Innovation: budget reports.

What the bill says

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…

From the chaptered text, August 27, 2026:

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 …

Read the full official text

Sponsors

• Phillip Chen (R, AD59) · primary sponsor

Latest actions

1. August 27, 2026: Chaptered by Secretary of State - Chapter 141, Statutes of 2026.
2. August 27, 2026: Approved by the Governor.
3. August 18, 2026: Enrolled and presented to the Governor at 3:30 p.m.
4. August 11, 2026: In Assembly. Ordered to Engrossing and Enrolling.
5. August 10, 2026: Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 5324.).
6. August 10, 2026: Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0.).
7. August 4, 2026: Read second time. Ordered to Consent Calendar.
8. August 3, 2026: From committee: Be ordered to second reading file pursuant to Senate Rule 28.8 and ordered to Consent Calendar.
9. June 18, 2026: From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (June 17). Re-referred to Com. on APPR.
10. June 10, 2026: Referred to Com. on B. & F.I.

Votes

• Consent Calendar 2nd AB2425 Chen (August 10, 2026): 39 yea, 0 nay, passed
• Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar (June 17, 2026): 7 yea, 0 nay, passed
• AB 2425 Chen Assembly Third Reading (May 27, 2026): 77 yea, 0 nay, passed
• Do pass. (May 14, 2026): 15 yea, 0 nay, passed
• Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar (April 23, 2026): 9 yea, 0 nay, passed

Common questions

What is AB2425?

AB2425 is a bill in the California Legislature (2025-2026 Regular Session): Department of Financial Protection and Innovation: budget reports.

What does AB2425 do?

In its own words: 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…

What is the status of AB2425?

Chaptered as of August 27, 2026. Latest action: Chaptered by Secretary of State - Chapter 141, Statutes of 2026. (August 27, 2026).

Who sponsored AB2425?

Phillip Chen (R, AD59).

Where is the official record for AB2425?

On the California Legislature website: https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260AB2425