AB 2500 puts Public Money into a Public Bank

If you are a resident of California and would like for California to put public money into a public bank, it's time to ring the alarm. AB 2500, our state bank bill, will be defeated by the Wall Street banking lobby if you don't get involved. Don't beleve there is nothing to be done -- you can make a huge difference.

We need your help once again in generating support for AB 2500. The bill will be heard in Assembly Banking committee on April 23, 2012. Below is a sample letter of support and a PDF copy of the bill for your use. Please distribute widely and generate letters of support before April 13th. Please spread the word!!

You can also sign the Facebook Causes Petition here.

Sample Letter of Support

March 25, 2012

The Honorable Mike Eng, Chair
Assembly Banking and Finance Committee
1022 N St. room 360 B
Sacramento, CA 95814

Re: AB 2500 (Hueso) California Investment Trust – Support

Dear Assemblymember Eng:

The (insert organization) Supports AB 2500 (Hueso), as introduced February 24, 2012. This bill will establish the California Investment Trust, which will increase access to capital for businesses and provide stability to our state economy and local financial sectors.

The California Investment Trust will strengthen economic and community development. By providing loans directly to individuals and businesses, the California Investment Trust will eliminate fees currently paid by state government for banking services, and will combine these savings with additional revenue generated through various operating activities. Furthermore, earnings generated by the California’s Investment Trust will be used for General Fund purposes.

AB 2500 will create the California Investment Trust and model it after the highly successful Bank of North Dakota. In response to current economic challenges, several states, including Maine, Oregon, Washington and Rhode Island, have considered the creation of a state bank We support Assembly member Hueso in his attempt to address California’s budgetary shortfall through the establishment of a California Investment Trust.

For these and other reasons, the (insert organization) is pleased to Support AB 2500 (Hueso) and respectfully requests your “AYE” vote when it comes before your consideration.

Sincerely,

Name

cc:

The Honorable Ben Hueso
Honorable Members of the Committee

Read the Bill!

ab_2500_bill_20120224_introduced[1].pdf
click to download

Write a Letter of Support!

AB 2500 Sample Support Letter - FINAL.docx
click to download