SB 1126: Local agencies: financial postings.

Official summary

Legislative Counsel’s Digest (official, as of the latest version). Written by nonpartisan legislative staff; reproduced verbatim.

Existing law requires, within 7 months after the close of each fiscal year or within the time prescribed by the Controller, whichever is later, the officer of each local agency, as defined, who has charge of the financial records to furnish to the Controller a report of all the financial transactions of the local agency during the preceding fiscal year, as specified. Existing law requires the report to contain underlying data from audited financial statements prepared in accordance with generally accepted accounting principles, as specified, and to state certain information, including the aggregate income during the preceding fiscal year. Existing law requires the legislative body, upon completion of the report, to either post the report in a conspicuous location on its internet website or to cause copies of the report to be prepared and the clerk of the legislative body to furnish a copy to any person requesting it, as specified.

This bill would require a local agency, as defined, that maintains an internet website to post its audited financial statements, or its annual comprehensive financial report, on its internet website within 30 days of the date that the statements or report are completed by the local agency, as specified. The bill would make its provisions operative on January 1, 2028. By imposing additional duties on local agencies, the bill would impose a state-mandated local program.

The bill would include findings and declarations related to these provisions.

The bill would include findings that changes proposed by this bill address a matter of statewide concern rather than a municipal affair and, therefore, apply to all cities, including charter cities.

The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.

This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.

Sponsors

Sponsors by party (alphabetical): Republican 3

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. August 22, 2026Chaptered by Secretary of State. Chapter 119, Statutes of 2026.
2. August 22, 2026Approved by the Governor.
3. August 11, 2026Enrolled and presented to the Governor at 3 p.m.
4. August 3, 2026Assembly amendments concurred in. (Ayes 36. Noes 0. Page 5250.) Ordered to engrossing and enrolling.
5. July 2, 2026In Senate. Concurrence in Assembly amendments pending.
6. July 2, 2026Read third time. Passed. (Ayes 70. Noes 0. Page 5985.) Ordered to the Senate.
7. June 25, 2026Read second time. Ordered to consent calendar.
8. June 24, 2026From committee: Do pass. Ordered to consent calendar. (Ayes 15. Noes 0.) (June 24).
9. June 3, 2026From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 10. Noes 0.) (June 3). Re-referred to Com. on APPR.
10. May 26, 2026From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.
11. May 26, 2026Referred to Coms. on L. GOV. and ED.
12. May 14, 2026In Assembly. Read first time. Held at Desk.