Senate Banking and Financial Institutions Committee
Key Moments
SB972 — SB 972 is introduced and presented to the committee as a bill modernizing licensing law for non-bank lenders and creating a streamlined umbrella licensing process for regulated investment managers. The author and witness explain that the bill is intended to reduce lengthy licensing delays, create a new license category for SEC-registered investment advisors, and expand access to capital in California’s commercial lending markets. Support is urged, the chair asks for additional testimony, and the committee then moves the bill. Later, after the consent calendar, SB 972 is taken up again, the motion is clarified as a due pass to the Senate Judiciary Committee, and the bill is approved and reported out of committee with six votes.
Roger Niello — Roger Niello, serving as Vice Chair, opens the floor to the presenter and is then repeatedly called during roll call and the consent calendar vote, where he is acknowledged and recorded as voting aye.
Tim Grayson — The witness thanks Chair Grayson and addresses him.
Tim Grayson — The witness thanks Senator Grayson and his staff.
Tim Grayson — Roll is called and Grayson is present.
Tim Grayson — Grayson is asked to close and requests an aye vote.
Tim Grayson — Grayson's vote is recorded as aye.
Tim Grayson — The chair is handed back the gavel and the consent calendar is taken up.
Sabrina Cervantes — Sabrina Cervantes is present during the meeting and is subsequently called during roll call and the consent calendar vote, where she responds 'aye.'
Eloise Reyes — Eloise Reyes is repeatedly called during quorum, consent calendar, and roll-call checks, and is ultimately recorded as voting aye.
Tony Strickland — Tony Strickland is present, is recorded voting aye during roll call, and is identified as making the motion for the consent calendar.
Tim Grayson — Referred to as Chair during the consent calendar roll call.
Tim Grayson — Referred to as Chair and recorded as voting aye.