News

April 23, 2018

California could become the next U.S. state that allows companies to store data - including information about stockholders - on a blockchain.

Bill 838 was first introduced by Senator Robert Hertzberg in January, but public filings show that the measure has picked up steam in recent days. The State Senate's Banking and Financial Institutions Committee referred the measure to the Judiciary Committee on April 18 after advancing it with a "do pass" recommendation.

April 20, 2018

By Mark Anderson

A bill before the California Senate would seek to create limited-service banks and credit unions for the cannabis industry, which is largely banned from using the regular banking system.

Senate Bill 930, which would allow marijuana businesses to write special checks to pay some of their businesses expenses, was approved on a unanimous vote by the Senate Bank and Financial Institutions Committee on Wednesday. The legislation was introduced in January by Sen. Robert Hertzberg, D-Van Nuys.

April 19, 2018

By Bob Hertzberg

The dawn of social media has created immense change in the lives of people all over the world – for better and, sometimes, for worse. Since the emergence of sites like Facebook and Twitter, Silicon Valley has experienced an explosion of progress and technological advancements, and in the meantime has expanded their influence in ways they could have never imagined, and likely never intended.

April 19, 2018

By The Sacramento Bee Editorial Board

There will be plenty of stoned Californians on Friday, the first 4/20 celebration since recreational marijuana became legal in the state.

Thank goodness that some sober folks in the Legislature are finally taking on a major problem – how to handle all the cash in what is projected to be a $7 billion industry by 2020.

April 18, 2018

by Patrick McGreevy

California would license special banks to handle billions of dollars generated by the legal marijuana market under legislation buoyed by recent comments from the Trump administration and given initial approval by state lawmakers Wednesday.

The bill moves on to face a vote in the Senate Governance and Finance Committee next week.

April 18, 2018

SACRAMENTO – Sen. Bob Hertzberg, D-Van Nuys, today announced that his legislation to help financial institutions safely conduct transactions with licensed cannabis businesses has cleared its first hearing in the Senate Banking and Financial Institutions Committee. SB 930 would allow banks to issue checks to accountholders to be used for the following purposes:

SB 838 would create more secure method for corporations to issue and transfer share certificates

April 18, 2018

SACRAMENTO – Senator Bob Hertzberg, D-Van Nuys, will present legislation today before the Senate Banking and Financial Institutions Committee that would enable the use of blockchain technology for certain business practices in California. Blockchain is an emerging technology that allows records to be stored and updated on multiple computers using a distributed ledger technology.

SB 1001, the BOT Act of 2018, next heads to Senate Judiciary Committee

April 16, 2018

SACRAMENTO –Senator Bob Hertzberg, D-Van Nuys, announced today that SB 1001, a bill he authored with the support of Common Sense Kids Action to require social media companies to identify the presence of automated accounts on their sites, cleared its first hurdle by passing the Senate Committee on Business, Professions, and Economic Development on an 8-1 vote.

April 11, 2018

California pays the highest traffic fines in the country. For many, these fines can lead to cycles of debt. A recent report has shown that these fines disproportionately affect low income communities and communities of color. California Senator Bob Hertzberg joins Gina Dalma, vice president of government relations for SVCF in a conversation about how California got here and how reforms are beginning to help individuals. The discussion closes with advice from Sen. Hertzberg on how organizations can effectively push for policy reform.

April 7, 2018

By Mike Mielke

While the rains of March and early April were a welcome relief, they will likely do little over the long-term to lift California out of its water crisis. That’s because the state’s single largest source of water storage – the Sierra Snowpack – has been reduced considerably in recent decades and is projected to shrink more in the future, as we enter a “new normal” with hotter and drier years to come due to man-made climate change.

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