Existing law generally authorizes local agencies to invest or reinvest public funds and prescribes rules for that investing or reinvesting. Existing law authorizes a legislative body of a local agency to delegate this authority for a one-year period to the treasurer of the local agency, as specified, and after a delegation, requires the treasurer to make a monthly report of those transactions to the legislative body. Existing law authorizes a county board of supervisors, by ordinance, to delegate this authority to the county treasurer, as specified, and, after a delegation, requires the treasurer to assume this responsibility until the board to either revokes this delegation by ordinance or decides not to renew the one-year period described above.
This bill would remove the requirement that a delegation by a county board of supervisors be made by ordinance. The bill would remove the one-year limitation on those delegations, and would remove the requirement that revocation of those delegations be made by ordinance. The bill would condition a delegation on the county investment policy requiring the county treasurer to make monthly and quarterly reports, as specified.

Statutes affected:
AB2080: 27000.1 GOV, 53607 GOV
02/18/26 - Introduced: 27000.1 GOV, 53607 GOV
03/16/26 - Amended Assembly: 27000.1 GOV, 53607 GOV
06/10/26 - Amended Senate: 27000.1 GOV, 53607 GOV
AB 2080: 27000.1 GOV, 53607 GOV