Charter

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Our goals are to:

1) Coordinate the public banking network of activists in California.

Cities and counties across California are exploring local public banking, and each will face similar challenges in the process. Rather than allow each movement to develop in isolation, we network to exchange ideas, provide guidance, and coordinate political and social efforts. By connecting, we give and gain invaluable advice and tools with other organizers.

2) Have California state legislation passed to allow a special license for charter cities and counties to form public banks.

Bank licenses are granted by the California Department of Business Oversight. They can’t currently offer licenses for public banks. A new state law would enable them to grant licenses to charter cities and counties who want to apply to start a public bank.

To accomplish this, we are drafting proposed legislation for a new public bank charter. We are also organizing statewide lobbying efforts to identify and educate key legislators in both chambers, to successfully pass the legislation through both the California Senate and Assembly.

3) Expand the movement.

We will be activating networks in new cities to inspire activists and elected officials to develop public banks. Outreach campaigns will identify potential local organizers through coalition networks and provide them with the tools to organize a public bank campaign in their city – whether it is a charter city or not. Ultimately, we hope to be an example and resource to cities and states across the nation for starting public banks.

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CHARTER

We propose a bill directing the Department of Business Oversight to create and administer a Municipal or Regional Public Banking License that would permit the department to issue bank charters to California charter cities, or Joint Powers Authorities qualified to apply under this license.  Such a charter or license would allow and require a municipal or regional public bank to:

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