Lege TREND. Local Public Banks. A Cannabis solution?

Where: California

The legislation: AB 857 (2019 | CA) signed by Gov Newsom

What are the bill’s policy goals?

• Make tax dollars work for our communities
• Tax revenue should serve a public purpose

What limitations are placed on local public banks?

• 10 public banks maximum
• 7 year authorization

Opposition: California Banker Association

Sacramento Bee | California cities could open their own public banks under new law meant to fund housing