ECONOMIC DEVELOPMENT

  AB 53 (John A. Pérez D)   Governor’s Office of Business and Economic Development: biennial California Economic Development Strategic Plan.    
   
  Summary: Would require the Governor’s Office of Business and Economic Development to lead the preparation of a biennial California Economic Development Strategic Plan, as specified. This bill contains other related provisions and other existing laws.

 

AB 311 (V. Manuel Pérez D)   Economic development projects.    
   
  Summary: Would authorize the board of directors of the California Infrastructure and Economic Development Bank to enter into development and financing agreements for projects within the California-Mexico border region, as defined. The bill would require the bank to develop guidelines for the selection, review, and approval of border region projects and authorize the bank to issue bonds, the proceeds of which would be deposited in the Binational Development Account, which the bill would create within the fund. The bill would state that certain provisions of this bill shall become operative only if the Executive Director of the California Infrastructure and Economic Development Bank determines that there are sufficient funds available to implement those provisions and submits a letter to the Legislature to that effect.
  AB 495 (Campos D)   The California Fund.    
   
  Summary: Current law authorizes the Governor’s Office of Business and Economic Development to, among other things, advance statewide economic goals. This bill would state the intent of the Legislature to establish the California Fund, a socially responsible investment fund sponsored by the state, to encourage investment in historically underserved communities and, via these investments, to further encourage additional development activities of scale within these communities.

 

AB 701 (John A. Pérez D)   California Infrastructure and Economic Development Bank.    
   
  Summary: Current law establishes the California Infrastructure and Economic Development Bank in the Business, Transportation and Housing Agency. Current law establishes that the board of directors of the bank consists of 5 members, as specified. This bill would add a Member of the Assembly and a Member of the Senate as advisory members of the board. This bill would require the bank to serve as the primary state agency for purposes of developing an application for, and applying to, any federal infrastructure bank or financing authority. This bill contains other related provisions.
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