In the 2011 California legislative session, the California Asset Building Program is advancing the following state policy initiatives (See printer-friendly downloadable agenda at right under Related Files):
This measure creates a California Banking Development District program, a proven way to connect lower-income unbanked Californians with the financial products and services they need to enter the financial mainstream and begin to build savings and assets.
This measure creates a financial education fund established in the Office of the Treasurer to authorize the state Controller to use the fund for consumer financial education efforts throughout the state.
This measure creates an easy way for Californians to save for college by amending the state income tax form to allow filers to directly deposit their refund into a state-administered tax-advantaged 529 college savings account.
This measure removes the vehicle asset test, which prohibits recipients and applicants from owning a car worth more than $4,650, from CalWORKS eligibility rules.
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