The Sustainable Economies Law Center has officially submitted a letter of support for AB-129, the California Alternative Currencies Act. This bill makes an important amendment to the California Corporations Code, clarifying that the use and circulation of alternative currencies is not prohibited. While SELC has advocated for removing Section 107 of the CA Corporations Code, this bill still takes a step toward a more resilient monetary system by legitimizing the use of alternative currencies in California.
The term "alternative currencies" can denote a wide range of currency designs and projects, and is not clearly defined in this bill. SELC specifically advocates for "community currencies" - forms of exchange designed to meet the particular needs of specific communities or regions, and that are democratically controlled and managed by the communities using them.
Read more about SELC's Community Currencies advocacy here. Continue reading below for how you can support this bill, too.
SELC has been advocating for this bill for nearly two years, and we need your support to finally make sure it becomes law! If you or your organization would like to express support for this bill:
Download a template letter here and take a few minutes to make the letter personal and unique to your or your organization's perspective. Make any and all changes to the template that you'd like. At the very least, please add a few sentences about your organization and why this legislation is important to you.
Print and mail signed letters to:
Senator Noreen Evans, Chair
Senate Banking and Financial Institutions Committee
Attn: Eileen Newhall
State Capitol Room 405
Sacramento, CA 94249-0007
We encourage you to send copies of the letter to your Assemblymember and Senator as well. Don't know who your representatives are? Search here: http://findyourrep.legislature.ca.gov/