Fabian Nuñez for state treasurer – in 2014?

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Fabian Nuñez, the former Assembly speaker from Los Angeles, has filed paperwork to run for state treasurer in 2014. The question is whether the paperwork amounts to the first steps in a statewide campaign for the prominent Democratic ex-lawmaker -- or a convenient place to stash his nearly $5 million in campaign cash.

Nuñez, a Democrat who was termed out of office in 2008, certainly has some experience deftly managing his campaign treasury. Under state law, such funds can only be maintained if a politician is officially seeking office. So after Nuñez left the Assembly he filed paperwork to run for state Senate in 2010.

But now that 2010 is here, Nuñez, a partner in the influential Sacramento public relations firm Mercury Public Affairs, is taking a pass on that race, filing instead for the 2014 elections.

‘He always has been on the cutting edge of housing and environmental policy, and with his work on the budget, is ideally suited for the job’ of state treasurer, said Steve Maviglio, who served as deputy chief of staff to Nuñez during his speakership and remains a spokesman.

‘It’s not just a place to park the funds,” Maviglio said.

Incumbent Treasurer Bill Lockyer, a Democrat, will term out of office and not be eligible for reelection in 2014.

-- Shane Goldmacher in Sacramento