The text of the bill is short:
12058. (a) Persons holding a valid permit or license to carry a
concealed handgun from any state or a political subdivision of a
state shall be deemed a licensee under subparagraph (A) of paragraph
(1) of subdivision (a) of Section 12050.
(b) The Department of Justice shall enter into reciprocity
agreements with all other states that have the legal authority to
enter into those agreements so that licensees under Section 12050 may
carry firearms in those states pursuant to the conditions imposed by
Section 12050. The department shall each month maintain and publish
a list of those states with which this state has established
Clearly, holders of permits issued in other states would have concealed carry privileges in this state if this bill becomes law.
The white elephant in the room is that some states shall issue concealed weapon permits to residents of other states, including California. Most notable in this regard is Utah, a popular state for concealed carry permits because of Utahs wide reciprocity agreements.
The effect of this bill would be to circumvent Section 12050 of the Penal Code, so of course AB 1167 has no chance of passing. California LEO agencies simply hate the idea of citizens with concealed weapons, despite the favorable history of such laws in other states.