Sacramento – Today, the Senate unanimously passed a bill authored by Assemblymember Ed Chau (D-Monterey Park) to clarify the definition of “owner” for the purpose of filing an unclaimed property claim with the State Controller. Assembly Bill (AB) 1275 now awaits consideration by the Governor.

SACRAMENTO -- Two bills authored by Assemblymember Ed Chau (D-Monterey Park) to strengthen California's elder financial abuse laws cleared key legislative hurdles this week. Assembly Bill (AB) 381, which would allow the courts to award attorney's costs and fees to seniors who were victims of elder financial abuse, passed the Assembly Floor and now awaits further review by the Governor. AB 477, which would require notaries public to report instances of suspected elder financial abuse, passed the Senate Judiciary Committee and now awaits further review by the Senate Appropriations Committee.

Sacramento – Assembly Bill (AB) 984, authored by Assemblymember Ed Chau (D-Monterey Park), passed the State Senate on a 38-0 vote. This bill makes a number of important changes to the California Housing Finance Agency’s (CalHFA) statutes. Specifically, it gives CalHFA the authority to directly fund down payment assistance loans done in conjunction with Federal Housing Administration (FHA) first mortgages. Furthermore, it states that down payment assistance loans do not need to be repaid upon the sale or refinance of the home, if the home is insured by an FHA first mortgage.