Changes cost allocation for licensees from assessments based on number of licensed locations to assessments based on pro rata volume of deferred deposit transactions.
In addition, establishes a minimum assessment of $500 per licensed location per year.
Legislative History
On Feb. 16, 2024, bill introduced in the Assembly; on Apr. 18, 2024, passed Assembly.
On Apr. 18, 2024, bill was introduced in Senate; on Aug. 21, 2024, bill passed Senate.
On Aug. 28, 2024, bill amendments concurred; on Sep. 6, 2024, delivered to governor.
Effectiveness
CAL bills typically go into effect January 1 of year following enactment, Jan. 1, 2025.
Sep. 2024 CAL LEG Governor Approval
On Sep. 14, 2024, CAL LEG reported governor approved bill; assigned Chapter 252.
Regulators
CAL LEG
Entity Types
Bank; MSB
Reference
Ch. 252, 9/14/2024; Bill AB3148, 9/6/2024; Citation: CAL FIN 10-1-3-23016;
