- Enabling legislation authored by Senator Kevin De León is approved.
- Legislature places new program in the State Treasurer's Office
- A nine-member board, chaired by the State Treasurer, is created to study the legal, market, and financial feasibility.
- Board raised $1 million from private contributions.
- Board contracts with experts for studies
- Senate Bill 1234 takes effect
- California State Treasurer John Chiang appoints Katie Selenski as Executive Director