AB-2080 • 2026

Investment of funds: delegation to county treasurer.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Johnson
Last action: 2026-03-26
Official status: Read second time. Ordered to third reading.
Effective date: Not listed

Plain English Breakdown

The bill summary and digest do not provide details on how the county board of supervisors decides when there is a 'good reason' to revoke delegation.

Allowing County Treasurers More Investment Authority

This law changes how county treasurers can manage public money by removing some rules and adding new ones.

What This Bill Does

Removes the requirement that a delegation of investment authority from a county board of supervisors to the county treasurer must be made by ordinance.
Eliminates the one-year limit on delegations by county boards of supervisors.
Requires the county treasurer to manage investments until the board revokes the delegation either by vote or for cause.
Mandates that the county treasurer report monthly about investment activities after getting delegated authority.
Allows the county board of supervisors to set reporting requirements for the treasurer on a monthly or quarterly basis.

Who It Names or Affects

County treasurers
County boards of supervisors

Terms To Know

delegation: Giving someone else the power to do something, like managing money for a county.
ordinance: A rule or law made by local government, such as a city council or board of supervisors.

Limits and Unknowns

The bill does not specify what happens if the treasurer fails to report monthly.
It is unclear how this change will affect other local agencies besides counties.

Bill History

2026-03-26 California Legislative Information
Read second time. Ordered to third reading.
2026-03-25 California Legislative Information
From committee: Do pass. (Ayes 10. Noes 0.) (March 25).
2026-03-17 California Legislative Information
Re-referred to Com. on L. GOV.
2026-03-16 California Legislative Information
From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.
2026-03-02 California Legislative Information
Referred to Com. on L. GOV.
2026-02-19 California Legislative Information
From printer. May be heard in committee March 21.
2026-02-18 California Legislative Information
Read first time. To print.

Official Summary Text

AB 2080, as amended, Johnson.
Investment of funds: delegation to county treasurer.
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
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
delegations by county boards of supervisors. The bill would
instead require the county treasurer to assume this responsibility after a delegation until the board revokes its delegation either by ordinance, or for cause and by
4
5
vote. The bill would specify that, after a delegation, the treasurer is required to make a monthly report of these transactions to the legislative body.
those delegations, and would remove the requirement that revocation of those delegations be made by ordinance. The bill would require the county board of supervisors to set monthly or quarterly reporting requirements after delegation, as specified.

Current Bill Text

Read the full stored bill text

Download Bill PDF