February 19, 2019

February 18, 2019

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Today The Suspense Will Be Over (Mostly)

Followers of California legislation will note that many bills are now in either the "suspense file" of the Appropriations Committees of the Senate and the Assembly.  These two committees have jurisdiction over fiscal bills.  A bill with a significant fiscal impact is typically assigned to the suspense file.  This year, the Joint Rules of the Assembly and Senate require that bills be passed out of fiscal committee by tomorrow (August 17).  J.R. 61(b)(15).  That means that a bill that fails to pass out of committee by that date will be dead unless the author can obtain a rule waiver.

Therefore, the both the Senate Appropriations and Assembly Appropriations Committees will be meeting today to hear a large number of bills before the deadline.  You can see the Senate's list here and the Assembly's list here.   Incidentally, SB 826, which would impose a gender mandate on public companies, is in the suspense file of the Assembly Appropriations Committee.

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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm

Keith Paul Bishop is a partner in Allen Matkins' Corporate and Securities practice group, and works out of the Orange County office. He represents clients in a wide range of corporate transactions, including public and private securities offerings of debt and equity, mergers and acquisitions, proxy contests and tender offers, corporate governance matters and federal and state securities laws (including the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act), investment adviser, financial services regulation, and California administrative law. He regularly advises clients...