THE ASSEMBLY JOBS ECONOMIC
DEVELOPMENT AND THE ECONOMY
COMMITTEE I WITH ME CHAIR
SEVERAL MEMBERS OF THE JOBS
COMMITTEE INCLUDING COMMITTEE
STAFF -- WE WILL -- BEGAN.
WE DON'T HAVE A QUORUM SO WE
WILL BEGIN AS A SUB COMMITTEE
AND I SEE THAT WE HAVE ONE OF
OUR AUTHORS HERE ITEM NUMBER.
TWO AB AT TEN TWENTY SEVEN BURKE --
THE CALIFORNIA COMPETES TAX
CREDITS -- YOU CAN PRESENT WHEN
YOU ARE READY.
THANK YOU A MAN CHAIR AND
COMMITTEE MEMBERS I'M HERE TO
PRESENT AB TEN TWENTY SEVEN
WHICH WILL IMPROVE UPON THE
PUBLIC PRIVATE PARTNERSHIP
ESTABLISHED BY THE GOVERNOR'S
OFFICE OF BUSINESS ECONOMIC
DEVELOPMENT ARE GOBIZ -- BY
ALLOWING THE STATE TO DIRECTLY
INVEST IN HIGH PERFORMING
COMPANIES IN CALIFORNIA.
AB TEN TWENTY SEVEN WORKS WITHIN
THE EXISTING CALIFORNIA COMPETE
TAX CREDIT FREE MORE.
BY PROVIDING A TAX CREDIT IN
EXCHANGE FOR A SHARE OF THE
COMPANY.
AND BY ALLOWING SMALL TECH START
UP TO TAKE ADVANTAGE OF THE
PROGRAM.
THIS PROGRAM IS COMPLETELY
VOLUNTARY AND MADE AT THE
ELECTION OF THE COMPANY.
ALLOWING THE STATE TO SHARE IN
THE SUCCESS OF THE COMPANY WILL
ALLOW US TO RAISE THE CAPITAL
NEEDED TO MAKE ADDITIONAL
INVESTMENTS ABOVE AND BEYOND
WHAT IS CURRENTLY ALLOCATED TO
GO BAD.
IF SUCCESSFUL A SUCCESSFULLY
IMPLEMENTED ALLOWING THE STATE
TO HAVE AN OWNERSHIP INTEREST IN
THE COMPANY WILL POTENTIALLY
ALLOW GOBIZ TO BECOME A SELF
FUNDED PROGRAM.
REVENUE WILL BE GENERATED AT THE
COMPANY MAKES MONEY THROUGHOUT
THE YEAR OR WHEN THE STATE SELLS
ITS INTEREST IN THAT COMPANY.
FINALLY IT TO SAY THAT WE WILL
BE TAKING THE COMMITTEES
AMENDMENTS AND FOR THAT I THINK
YOU AND YOUR COMMITTEE FOR YOUR
WORK AND I RESPECTFULLY REQUEST
AND I ABOUT.
THANK YOU DO YOU HAVE ANY
WITNESSES IN SUPPORT
[inaudible]
HELLO.
IS WITH ME ANY WITNESSES IN
OPPOSITION OF THE MEASURE.
SO DO I HAVE A MOTION.
A WE DON'T OF CORN.
SO ¹LL LET ME ACTUALLY
ESTABLISH A QUORUM I SECRETARY
IF YOU COULD PLEASE CALL THE
ROLL [inaudible]
CERVANTES.
MISTER CUNNINGHAM.
CHAU [inaudible]
CHEN HERE RAMOS [inaudible]
THREE OF US SMITH.
BUT I'M SURE WE HAVE QUORUM.
WE HAVE A MOTION.
DRIVE A SECONDS.
OKAY WHY WOULD LET'S GO AHEAD
AND TAKE QUESTIONS FROM
COMMITTEE MEMBERS AT THIS TIME
ASSEMBLYMEMBER SMITH.
THANK YOU I'M ASSEMBLY MEMBER
BURKE IS THERE PRESIDENT --
ANYWHERE THROUGH ANY AGENCY IN
CALIFORNIA FOR EQUITY OWNERSHIP
IN A PRIVATE ENTITY.
YEAH CALPERS.
RIGHT THROUGH CALPERS THROAT
WITH THE PENSION PROGRAM.
SO.
IN DISTINGUISHING THIS PROGRAM
WHAT ARE THE ASSURANCES THAT WE
HAVE IN TERMS OF OF FIRST OF ALL
OVERSIGHT OF THAT REVENUE STREAM
AND THE FACT THAT IT DOES IN
FACT GO SPECIFICALLY BACK TO GO
BECAUSE FOR THAT PROGRAM.
I DON'T THINK I UNDERSTAND THE
QUESTION ARE YOU ASKING WHAT.
WHAT PROTECTIONS WERE WHAT
PROTECTIONS WHAT PROTECTIONS ARE
IN PLACE FOR THOSE FINANCIAL
RESOURCES TO BE FIRST OF ALL
MONITORED AND THEN SECONDARILY
SPECIFICALLY USED INSIDE ASIDE
FOR GOBIZ PURPOSES ONLY
[inaudible]
THANK YOU.
YEAH GOBIZ -- CURRENTLY PROVIDES
A TAX CREDIT -- THIS -- AND AND
WITH THE AMENDMENTS -- THAT WE
DISCUSSED WITH COMMITTEE WOULD
NARROW THE SCOPE OF THE BILL SO
THAT IT ONLY BECOMES A FACTOR IN
TERMS OF THE APPLICATION PROCESS.
THE TAX RATE ITSELF WOULD REMAIN
EXACTLY THE SAME AND SO TO THE
EXTENT THAT THERE IS A DANGER IN
EXISTING LAW.
WITH RESPECT TO ANY LOSS IN THAT
TAX FOR A TAX CREDIT -- THAT
WOULD ALWAYS STAY THE SAME THE
ONLY ISSUE IS THAT WE WOULD THEN
BECOME -- IT WOULD ALLOW COMPETE
HAS ACTUALLY BECOME MORE
FAVORABLE AND THE APPLICATION
PROCESS ON FORGET THIS TAX
CREDITS BUT IT DOESN'T CHANGE
THE PROGRAM OUTSIDE OF THAT BUT
I UNDERSTAND WHAT YEARS YOUR
QUESTION IS HOW DO WE ASSURE
THAT THE MONEY THAT WE GET AS A
RETURN FROM THAT.
FROM FROM WHATEVER AND THAT'S
MEANT NOT A NEW INVESTMENT BUT
THAT MONEY THAT OUR
PARTICIPATION RIGHT REAP US HOW
DO WE GUARANTEE IT AND I DON'T
THINK THAT WE HAVE IN THIS BILL
YET BUT WE'RE HAPPY TO DISCUSS
IT.
OKAY YEAH THAT'S MY CONCERN I
MEAN WE WE HAVE A NUMBER OF
PROGRAMS WHERE REVENUE WAS
INTENDED FOR ONE AGENCY OF
GOVERNMENT AND IT ENDS UP BEING
SWEPT PARTICULARLY AND IN
ECONOMIC DOWNTURNS AND I THINK
THAT'S EXACTLY WHEN WE WANT TO
BE.
BE SEEING MORE GOV IS INVESTMENT
RIGHT YEAH AND AND WE'RE HAPPY
TO WORK ON THAT OKAY.
THANKS.
ANY ADDITIONAL COMMENTS FROM
COMMITTEE MEMBERS.
WELL I JUST WANT TO CLOSE BY
SAYING THANK YOU I TO THE AUTHOR
YOUR TEAM FOR OUR WORKING WITH
OUR CONSULTANTS ON THIS BILL AND
FOR TAKING THE COMMITTEE
AMENDMENTS -- THIS -- THE MOTION
BEFORE THE COMMITTEE IS TO PASS
WITH AMENDMENTS TO THE ASSEMBLY
COMMITTEE ON RAP IN TAX -- I DO
HAVE THIS OF MOTION BY ASSEMBLY
MEMBER CHAO.
MY HAVE A SECOND BY
ASSEMBLYMEMBER SMITH SECRETARY
CAME PLEASE CALL THE ROLL.
ITEM TWO A. B. TEN TWENTY SEVEN
THE MOTION IS TO PASS WITH
AMENDMENTS TO ASSEMBLY COMMITTEE
ON REVENUE AND TAXATION CHAIR
CERVANTES.
AYE CHAU CERVANTES ANA.
PLACER CUNNINGHAM.
CHAU.
CHAO I'D CHEN [inaudible]
RAMOS [inaudible]
REAVIS [inaudible]
SMITH [inaudible]
SMITH HI.
SO ABOUT BILL WILL REMAIN ON
CALL -- FOR ABSENT MEMBERS
[inaudible]
THANK YOU.
AND A MEMBER ONE TWO YES YOU IF
YOU WISH WE CAN GO AHEAD AND
TAKE UP.
YOUR SECOND ITEM ON THE AGENDA
THAT IS ITEM NUMBER FIVE AB.
TWENTY THREE YOU COULD BEGIN
WHEN YOU'RE READY THANK YOU.
FIRST I'D LIKE TO ACCEPT THE
COMMITTEE MEMBERS AND THANK YOU
THINK FOR IT TO THE COMMITTEE
FOR WORKING WITH ON WE ARE
WORKING WITH US ON THIS BILL
THIS BILL IS ACTUALLY INCREDIBLY
IMPORTANT US AND SOMETHING THAT
I WORKED ON OVER THE YEARS HERE
IN THE ASSEMBLY I'M HERE. TO
PRESENT AB TWENTY THREE WHICH
ESTABLISHED PLACE A DEPUTY OF
BUSINESS AND WORKFORCE.
COR NATION UNDER THE OFFICES
SMALL BUSINESS ADVOCATES THINK
OF IS CALIFORNIA SMALL BUSINESS
PLAYS AN INTEGRAL ROLE IN THE
CONTINUED PROSPERITY OF THE
STATE'S ECONOMY ACCOUNTING FOR
OVER TWO HUNDRED EIGHTY THOUSAND
OR EIGHTY THREE POINT 3%.
OF THE NET NEW JOBS CREATED IN.
TWO THOUSAND EIGHTEEN
UNFORTUNATELY THE SUCCESSES
THREATENED BY A POTENTIAL
SHORTENS SHORTAGE ONE TO ONE
POINT FIVE MILLION QUALIFIED
WORKERS BY TWO THOUSAND TWENTY
FIVE WHICH IF REALIZE WOULD
RESULT IN SIGNIFICANT ECONOMIC
DISINCENTIVES FOR NEW BUSINESSES
TO COMING UP ABOUT CALIFORNIA.
AND FOR EXISTING BUSINESSES TO
REMAIN IN THE STATE.
ASSEMBLY BILL TWENTY THREE WOULD
ESTABLISH A DEPUTY OF BUSINESS
AND WORKFORCE COORDINATION
WITHIN THE OFFICE OF THE SMALL
BUSINESS ADVOCATE. TO OUT REACH
AND ENGAGE SMALL BUSINESS ON
THEIR LABOR NEEDS TO BETTER
ALIGN CALIFORNIANS WORKFORCE
DEVELOPMENT PROGRAMS WITH
EMPLOYMENT OPPORTUNITIES IN THE
LABOR MARKET.
ESTABLISHING A SPECIFIC ENTITY
TO ACTIVELY ENGAGE SMALL
BUSINESS AND ADDRESS THEIR
WORKFORCE DEVELOPMENT NEEDS
WOULD HELP THESE BUSINESSES
REMAIN COMPETITIVE ESPECIALLY
GIVEN THE OFTEN LIMITED NATURE
OF THEIR RESOURCES. TO LOOK
BEYOND THE SCOPE OF THEIR
SPECIFIC BUSINESS PRACTICE FOR
THE MORE ENSURING THE STATE'S
WORKFORCE PROGRAM ALIGNS WITH
THE EMPLOYMENT OPPORTUNITIES
THROUGHOUT CALIFORNIA.
PROVIDES FOR WIDER EXPANSION OF
PROSPERITY AS INDIVIDUALS WILL
BE PREPARED FOR THE OPENINGS
AVAILABLE WHEN THEY COMPETE WHEN
THEY COMPLETE THEIR TRAINING
WITH ME TO TESTIFY A SPONSOR THE
BILL.
OUR AND NICKEL RICE'S CMT AND
ERIC FOR AS WITH THE CALIFORNIA
WORKFORCE ASSOCIATION.
THE MORNING MA'AM CHAIR AND
MEMBERS AND THE CALL RICE
CALIFORNIA MANUFACTURES AND
TECHNOLOGY ASSOCIATION AND ALONG
WITH THE CALVARY WORK FOR SAYS
HE SHOULD BE OUR SPONSORS OF THE
BILL -- MANY TIMES I'VE PER PER --
ADDED TO THIS COMMITTEE -- EVE
HEARD ME TALK ABOUT THE NEED FOR
SKILLED WORKFORCE IN
MANUFACTURING AND THIS IS
ESPECIALLY TRUE FOR OUR SMALL
MANUFACTURERS WHO OFTEN DON'T
HAVE THE RESOURCES OR THE
MANPOWER.
NECESSARY TO NAVIGATE THE
UNFAMILIAR AND COMPLEX.
EDUCATIONAL WORKFORCE TRAINING
SYSTEMS -- AND THEY DESPERATELY
NEED THESE INDIVIDUALS IN ORDER
TO ENHANCE THEIR PRODUCTION AND
SEES INNOVATION TO INCREASE
THEIR COMPETITIVENESS AND A
DYNAMIC GLOBAL MARKET PLACE.
IN OUR LETTER WE DISCUSSED HOW
IT'S NOT UNCOMMON FOR SMALL
MANUFACTURERS TO MISS OUT ON NEW
OPPORTUNITIES BECAUSE THEY DON'T
HAVE THAT ONE ADDITIONAL PERSON.
TO YOU EITHER OPERATE THAT
INDUSTRIAL MACHINERY OR TO
MANAGE THAT EXTRA SHIFT -- SO
THE FOCUS ON SMALL MANUFACTURING
AND SMALL BUSINESS -- IN THIS
BILL IS VERY IMPORTANT.
A COUPLE OF THINGS I LIKE TO
HIGHLIGHT IS THAT THIS BILL IS
UTILIZING.
AN EXISTING SYSTEM WITHIN THE
STATE GOVERNMENT -- AND INTO TV
THAT IS NOT ONLY KNOWN BY SMALL
BUSINESSES TO AS A RESOURCE --
FOR INFORMATION AND ASSISTANCE
IN THE STATE SYSTEM BUT ALSO.
IS KNOWN THE BUSINESSES ARE
KNOWN BY THIS ENTITY AND HOW
THIS DIFFERS FROM THE EXISTING
SYSTEM IS THAT.
THE LEASE OWNS IN THOSE SYSTEMS
ARE ACTUALLY BRIDGING FOR SMALL
BUSINESSES BETWEEN THE EDUCATION
OR TRAINING SYSTEMS WHERE THIS
LIAISON.
IS GOING TO BE BRIDGING BETWEEN
MULTIPLE SYSTEMS AND OFTENTIMES
THOSE OTHER LIAISONS IF THEY
DON'T ALREADY HAVE RELATIONSHIPS
WITH SMALL BUSINESSES.
THEY DON'T KNOW HOW TO FIND US
ANY MORE THAN WE KNOW HOW TO
FIND THEM SO AGAIN AS THE AUTHOR
SAID THIS IS AN IMPORTANT
MEASURE IT WILL HELP CREATE
PROSPERITY AND BE -- AN OUTLOOK
IT IF YOU WILL SOLUTION TO A
DRESSING WHAT IS NOW THE MISSING
LINK WHICH IS HELPING BUSINESSES
CONNECT WITH THOSE PROGRAMS.
SO FOR THOSE REASONS WE ARE
SUPPORTIVE AND WE ASK FOR YOUR
IPHONE THANK YOU.
GOOD MORNING I'M NOT ERIK FLORES
I'M BOB LAND DIRECTOR OF THE
CALIFORNIA WORKFORCE ASSOCIATION
GOOD MORNING MADAM CHAIR
COMMITTEE MEMBERS THANK YOU FOR
GIVING ME THE OPPORTUNITY. TO
SPEAK TODAY -- AS THE CALIFORNIA
WORK FORCES ASSOCIATION WE
REPRESENT THE FORTY FIVE
WORKFORCE DEVELOPMENT BOARD'S AS
WELL AS A HUNDRED OTHER
STAKEHOLDERS IN THE WORK FORCE
ECOSYSTEM INCLUDING BUSINESS.
COMMUNITY COLLEGE COMMUNITY
BASED ORGANIZATIONS AND OTHER
SERVICE PROVIDERS OVER THE PAST
FIVE YEARS.
THE WORKFORCE DEVELOPMENT SYSTEM
BOTH NATIONWIDE IN CALIFORNIA
HAS MADE HUGE LEAPS.
IN A CONCERTED PROGRAMMING
PARTNERSHIP IN COLOGNE ROMAN
EFFORT.
THE FEDERALLY MANDATED STATE
PLANNING PROCESSES HAS YIELDED
NEW.
OFFICIAL LOCAL AND REGIONAL
COLLABORATIONS WITH
ORGANIZATIONS LIKE CORRECTIONS
SOCIAL SERVICES ADULT EDUCATION
COMMUNITY COLLEGES.
COMMUNITY BASED ORGANIZATIONS.
ALL WORKING TOGETHER TO ALIGN
THEIR EFFORTS AND INITIATIVES TO
BESTSERVE THE NEEDS OF BUSINESS
AND JOB SEEKERS IN THE STATE.
WE MUST CONTINUE THE SUCCESS BY
BRING INTO THE FOLD.
OUR SMALL BUSINESS PARTNERS AND
HAVE THEM BE BUSINESS LAD MAKING
SURE WORKFORCE AND ECONOMIC
DEVELOPMENT RESOURCES ARE
MAXIMIZED TO ENSURE THE SUCCESS
OF CALIFORNIA'S EMPLOYERS.
IN OUR INDUSTRY SMALL BUSINESS
IS BIG BUSINESS THE FORTY FIVE
WORKFORCE DEVELOPMENT BOARD'S
OFFER ONE POINT THREE MILLION
CUSTOMERS WALK THROUGH THEIR
CAREERS CENTERS.
IN TWO THOUSAND EIGHTEEN THEY
PROVIDED SERVICES TO ALMOST
THIRTY THOUSAND INDIVIDUAL
EMPLOYERS.
IN ORDER TO CONTINUE TO SEE OUR
STATE GROWTH AND SUCCESS IT'S
CRITICAL THAT WE WORK HARDER
THAN EVER. TO ALIGN THE SYSTEMS
WITH A THREE POINT NINE MILLION
SMALL BUSINESSES IN CALIFORNIA.
THEY IN PLAY OVER 50% OF OUR
STATES WORKFORCE.
THIS IS WHY I SEE TO BE A IS
PROUD TO CO SPONSOR AB.
TWENTY THREE A BILL THAT WOULD
WORK WITH AN ODD MAN EXISTING
PROGRAMS AND COORDINATE ACROSS
CALIFORNIA SMALL BUSINESS AND
WORKFORCE DEVELOPMENT EFFORTS.
THE BILL'S PROPOSED DEPUTY OF
BUSINESS AND WORK FORCE
COORDINATION WOULD BE A WELCOME
PARTNER. TO WORKING TO
COORDINATE BUSINESS AND LABOR
DEMAND AND MATCHING THOSE
EFFORTS ACROSS ECOSYSTEMS TO
BETTER SERVE OUR COMMUNITIES.
AB TWENTY THREE WILL HELP ORIENT
THE OFFICES SMALL BUSINESS
ADVOCATE WITH EXISTING STRUCTURE
RESOURCE AND PROGRAMS FOR SMALL
BUSINESS EMPLOYERS IN CALIFORNIA.
CREATING NEW WAYS OF ALIGNING
THEIR SYSTEMS.
WITH EACH OTHER VIA THE PROPOSED
DEPUTY OF BUSINESS AND WORK
FORCE COORDINATION.
IN MY OPINION THIS IS DAN -- UP
A PROGRAM CONNECTION THAT HAS
BEEN SORELY NEEDED.
REALLY CONNECTING THE DEMAND
SIDE TO THE LABOR SIDE.
AND WITH THAT WE RESPECTFULLY
ASK FOR YOUR EITHER THANK YOU.
THANK YOU DO WE HAVE.
ANY MEMBERS FROM THE PUBLIC WHO
WISH TO SPEAK IN SUPPORT OF THE
MEASURE.
MADAM CHAIR MEMBERS CHRISTMAS
KAYLEE REPRESENT THE COMPUTING
TECHNOLOGY INDUSTRY ASSOCIATION
ALSO SUPPORT.
GOOD MORNING CARRIED CIRCUIT
SCENE WITH THE CALIFORNIA
CHAMBER OF COMMERCE IN SUPPORT.
MORNING MADAM CHAIR MEMBERS DAY
BUT WE'RE ON BEHALF OF UNITED
CHAMBER ADVOCACY NETWORK A
COALITION OF LOCAL CHAMBERS OF
COMMERCE AND THE SACRAMENTO
MARKET PLACE IN SUPPORT.
CHARLIE RAY CALIFORNIA
CONSTRUCTION INDUSTRIAL
MATERIALS ASSOCIATION IN SUPPORT.
ARE THERE ANY MEMBERS OF THE
PUBLIC WHO WISH TO SPEAK IN
OPPOSITION OF THE MEASURE.
ALL RIGHT SEE NOW AND I WILL
BRING IT BACK TO THE COMMITTEE
MEMBERS FOR ANY COMMENTS OR
QUESTIONS. TO THE AUTHOR.
WE HAVE A MOTION ON THE BILL BY
SOME REMEMBER SMITH IN THE
SECOND BY ASSEMBLY MEMBER CHEN --
I DO I WOULD JUST WANT TO STATE
THAT THANK YOU TO THE SPONSORS
AND THE AUTHOR FOR BRINGING THIS
BILL FORWARD I I COMPLETELY
AGREE WITH THE STATEMENTS MADE
AT THE THIRD.
DOES NEED TO BE A CONNECTION I'M
A BILL THAT I BELIEVE THAT THIS
THIS BILL DOES JUST THAT -- AND
YOU KNOW FOR ALL THE BUSINESSES
THAT I TOWARD AND SPECIALLY THE
SMALL MANUFACTURING NOW WE SEE
THAT THERE IS A NEED THERE SO I
APPRECIATE YOUR YOUR WORK ON
THIS ITEM -- AND YOU HAVE MY
FULL SUPPORT OF THIS BILL TODAY.
THIS BILL IS DUE PASSED WITH
AMENDMENTS TO ASSEMBLY COMMITTEE
ON APPROPRIATIONS SECRETARY
PLEASE CALL THE ROLL.
ITEM FIVE AB TWENTY THREE THE
MOTION IS TO PASS WITH
AMENDMENTS TO ASSEMBLY COMMITTEE
ON APPROPRIATIONS CHAIR
CERVANTES AYE.
CHAU CERVANTES HI VICE CHAIR
CUNNINGHAM.
CHANNEL.
CHANNEL ON A CHEN.
CHEN I RAMOS REAVIS.
REAVIS HIGH SMITH.
SMITH BY.
THE BILL HAS A VOTE OF FIVE FIVE
ZERO I DOES MOVE OUT OF
COMMITTEE BUT WE WILL LEAVE THAT --
THE ROLE OPEN DROPS IN NUMBERS
THANK YOU.
THIS IS MY KEEP TRACK HERE
BREAKERS -- SO BEFORE WE
CONTINUE WITH THE NEXT AUTHOR I
DO JUST WANT TO NOTE THAT THERE
IS SUCH A SIMPLE MENTAL LIST OF
SUPPORT IN OPPOSITION.
AND SO I JUST WANTED TO DRAW
YOUR ATTENTION TO THAT --
MEMBERS EACH OF YOU HAVE THAT AT
YOUR DESK AS WELL AS JUST TO
REVIEW THERE ARE SEVEN BILLS ON
CONSENT TODAY AND THAT IS ITEM
ONE A. B. NINE NO.
SIX ITEM EIGHT A. B..
THIRTEEN SIXTY FIVE EIGHTY NINE
ITEM NINE AB FIFTEEN THIRTY
THREE I'D IN TEN EIGHTY FIFTEEN
SEVENTY SEVEN ITEM ELEVEN AB.
EIGHTEEN OH EIGHT ITEM TWELVE A.
B. EIGHTEEN OH SEVEN AND ITEM
THIRTEEN AB SIXTEEN AND NINETY
SIX I WITH THAT WE CAN CONTINUE
WITH OUR AGENDA WE HAVE ASSEMBLY
MEMBER GOMEZ PLEASE WHEN YOU'RE
READY PLEASE BEGIN.
AND WILL BE TAKING UP ITEM
NUMBER SIX A. B..
FOUR SEVENTY FOUR THANK YOU
MADAM CHAIR AND MEMBERS.
I WOULD LIKE TO FIRST ACCEPT
COMMITTEE AMENDMENTS LOCATED IN
THE ANALYSIS AND THANK THE CHAIR
AND COMMITTEE. FOR YOUR GAUGE
WENT ON THIS CRITICAL ISSUE.
AB FOUR SEVEN FOUR PROMOTES
ADEQUATE CAPITAL ACCESS FOR
BUSINESSES ACROSS THE STATE OF
CALIFORNIA BY TRANSFERRING THE
CALIFORNIA CAPITAL ACCESS
PROGRAM.
ALSO KNOWN AS CAL CAP FROM ITS
CURRENT LOCATION IN THE
CALIFORNIA POLLUTION CONTROL
FINANCING AUTHORITY.
IN THE OFFICE OF THE TREASURE TO
THE CALIFORNIA INFRASTRUCTURE
AND ECONOMIC DEVELOPMENT BANK OR
A BANK.
SMALL BUSINESSES ARE THE
BACKBONE OF THE CALIFORNIA
ECONOMY CONTRIBUTE CONTRIBUTING
TO THE MOST NET NEW JOBS AND
HELPING TO DISTRIBUTE FINANCIAL
OPPORTUNITIES TO THE STATE'S
GLOBAL ECONOMY.
UNFORTUNATELY A BERRIER STOPPING
MANY SMALL BUSINESSES SMALL
BUSINESSES FROM ESTABLISHING OR
EXPANDING IS A LIMITATION ON
THEIR ABILITY TO INDEPENDENTLY
RECEIVE ADEQUATE FUNDING.
FINANCING AND FUNDING AT A
REASONABLE RATE.
THIS PRACTICAL PROBLEMS LED TO
THE ESTABLISHMENT OF THE CAL CAP
A NATIONALLY RECOGNIZED AT LOAN
LOSS RESERVE PROGRAM WITH A
FOCUS ON LOW INCOME.
AND MINORITY OWNED SMALL
BUSINESSES EXPERIENCING BARRIERS
TO TODAY TO TRADITIONAL
FINANCIAL SERVICES.
THE PROGRAM ENCOURAGES BANKS AND
OTHER FINANCIAL INSTITUTIONS TO
MAKE LOANS TO BUSINESSES BY
PROVIDING UP 21100% COVERAGE ON
LOSSES AS A RESULT OF CERTAIN
LOAN DEFAULTS.
ALLOWING LENDERS TO BE
COMFORTABLE UNDERWRITING LOANS
IN SITUATIONS WHERE THEY MAY
OTHERWISE BE HESITANT.
UNDER THE SMALL BUSINESS
FINANCIAL ASSISTANCE ACT OF TWO
THOUSAND THIRTEEN THE I. BANK
WAS TASKED WITH THE
ADMINISTRATION OF SEVERAL SMALL
BUSINESS PROGRAMS.
MANY.
OF WHICH ARE ADMINISTERED
DIRECTLY BY THE BANK OR UNDER
CONTRACT WITH SMALL BUSINESS AND
FINANCIAL DEVELOPMENT
CORPORATIONS.
WITH A VARIETY OF PROGRAMS BEING
CONSOLIDATED IN THE AYE BANK IT
MAKES SENSE TO CREATE A
CENTRALIZED CONSOLIDATED.
LOCATION TO SERVE SMALL BUSINESS
AND ALLOW THE LEGISLATURE TO
BETTER SEE BETTER OVERSEE.
THE ALLOCATION OF CAPITAL IN A
WAY THAT ENSURES THE BENEFITS
ARE TRULY MAXIMIZED.
I WOULD LIKE TO PERSONALLY THANK
MY FRIEND FIONA MAHLER STATE
TREASURER FOR HER ENGAGEMENT ON
THIS ISSUE.
AND HER COMMITMENT TO SMALL
BUSINESS.
I LOOK FORWARD TO WORKING ON
THIS BILL IN PARTNERSHIP WITH
HER TO ENSURE THAT WE MOVED IN
THIS ISSUE ON THIS ISSUE FORWARD.
HERE WITH ME TO TESTIFY IN
SUPPORT THIS BILL ARE SCOTT
HOAGIE.
PRESIDENT OF A SMALL BUSINESS
CALIFORNIA AND GOING TO BROWN
VICE PRESIDENT OF POLICY AND
RESEARCH AT OPPORTUNITY FUND.
THANK YOU SCOTT HOW CREEK --
THANK YOU FOR THE OPPORTUNITY TO
SPEAK ON THIS TODAY AND I DON'T
WANT TO THANK ATTORNEY SIMON'S
FOR VERY THOUGHTFUL ANALYSIS ON
THIS BILL -- AS I THINK ALL OF
YOU KNOW ACCESS TO CAPITAL IS A
MAJOR ISSUE FOR START UP
BUSINESSES AND SMALL BUSINESSES.
AND THIS BILL IS A VERY GOOD
STEP.
HE AND MOVING FORWARD IN
CONSOLIDATING LENDING PROGRAMS
FOR SMALL BUSINESS WITHIN THE
STATE.
AND WOULD LIKE TO KNOW DO WE
ALSO WORK VERY CLOSELY WITH THE
SMALL BUSINESS DEVELOPMENT
CENTERS.
WHICH WILL HELP TO REACH OUT
AROUND THE STATE TO GET
INFORMATION OUT TO SMALL
BUSINESSES THANK YOUNG WE ASK
FOR YOUR SUPPORT.
GOOD MORNING AND THANK YOU CHAIR
WOMAN SIRVENTES AND MEMBERS OF
THE COMMITTEE MY NAME IS WENDY
BROWN VICE PRESIDENT OF RESEARCH
AND POLICY AT OPPORTUNITY FUND
WE'RE CALIFORNIA'S LARGEST
NONPROFIT MICRO LENDER.
AND WE'RE LONGTIME PARTICIPATE%
IN THE CAL CAP PROGRAM WHICH HAS
ENABLED US TO MAKE OVER TEN
THOUSAND SIX HUNDRED LOANS
TOTALING NEARLY TWO HUNDRED
MILLION TO CALIFORNIA SMALL
BUSINESSES.
PRIMARILY UNDERSERVED IMMIGRANT --
MINORITY AND WOMEN OWNED SMALL
BUSINESSES WE STRONGLY SUPPORT
MOVING THE PROGRAM O THE CAL
CAP PROGRAM TO THE SMALL
BUSINESS FINANCE CENTER WITH AND
GO BIZ.
I WITH AN EXCLUSIVE FOCUS ON
SMALL BUSINESS ISSUES THEY HAVE
THE EXPERTISE AND COMMITMENT
NECESSARY TO ENSURE THE
PROGRAM'S FUTURE -- WHICH REALLY
IS NECESSARY FOR SMALL BUSINESS
SUCCESS FOR ALL OF CALIFORNIA'S
BUSINESSES THANK YOU.
THANK YOU DO WE HAVE ANYONE WHO
WISHES TO SPEAK IN SUPPORT OF
THIS MEASURE TODAY.
GOOD MORNING CHAIR MEMBERS
YOLANDA BENSON REPRESENTING THE
ASSOCIATION OF FINANCIAL
DEVELOPMENT CORPORATIONS THAT
WERE MENTIONED -- IN THE THE THE
AND INTRODUCTION OF THE BILL BY
ASSEMBLY WOMAN RAY IS -- THAT WE
ARE UNDER THE SMALL BUSINESS
FINANCE CENTER AT THE AYE BANK.
AND I CAN TELL YOU THAT WE WORK
ON MANY OF THE PROGRAMS
ADMINISTERED BY THE AYE BANK IN
THE AYE PAYING TRULY DOES HAVE
THE EXPERTISE.
AND THEY TRULY DO HAVE A HEART
FOR ENSURING.
THAT SMALL BUSINESSES REACHED
THE AYE BANK HAS EVEN COME UP
WITH THEIR OWN IDEAS OF DOING
THINGS LIKE THE JUMPSTART
PROGRAM WHICH WAS THEIR IDEA TO
HELP PEOPLE WHO ARE JUST
STARTING OUT IN BUSINESS.
THEY KNEW IT WAS RISKY BUT
THEY'RE WILLING TO TAKE THE
CHANCE BECAUSE THEY TRULY DO
HAVE THE HEART. FOR HELPING
SMALL BUSINESSES AND THE
DECISIONS THAT THEY MAKE IN THE
LEADERSHIP THEY HAVE.
I THINK HAVING EVERYTHING APT
THE SMALL BUSINESS FINANCE
CENTER AT THE AYE BANK WILL
SERVE CALIFORNIA WELL AND
ESPECIALLY SMALL BUSINESSES IN
CALIFORNIA.
GOOD MORNING MADAM CHAIR --
LAURIE KAMMERER REPRESENTING
NAPO NATIONAL ASSOCIATION OF
WOMEN BUSINESS OWNERS SACRAMENTO
VALLEY CHAPTER -- I TO WANT TO
THANK YOUR COMMITTEE CONSULTANT
TONY SIMON'S FOR THE FABULOUS.
ABSOLUTELY THOROUGH ANALYSIS
THAT SHE DID OF THE BILL THAT
WAS A LOT OF WORK PUT INTO THAT
AND WE'RE VERY GRATEFUL I ALSO
WANT TO THANK ESPECIALLY
ASSEMBLY MEMBER RAY S. FOR
BRINGING THIS BILL FORWARD. FOR
WORKING SO HARD WITH US ON
MAKING SURE THAT THE SMALL
BUSINESSES WOMEN OWNED
BUSINESSES ALL SMALL BUSINESSES
ARE SERVED BY THIS BILL I ALSO
WANT TO THANK YOUR COMMITTEE
STAFFER WORKING WITH THIS TOO
AND ALL THE HARD WORK THAT.
MR HIM WITH THAT WERE VERY MUCH
IN SUPPORT WE URGE YOUR IPHONE
THANK YOU.
MORNING CHEN MEMBERS BY SHEPHERD
REPRESENTING THAT CAL A CHAMBER
OF COMMERCE IN STRONG SUPPORT OF
THIS BILL WE ALSO WANT TO THANK
THE AUTHOR FOR BRING THIS
FORWARD.
AND DRIVER THANK YOU.
ANY ADDITIONAL WITNESSES WHO
LIKE TO SPEAK IN SUPPORT SEE
NINE TO ANY THAT.
ARE MEMBERS OF THE PUBLIC WHO
WOULD LIKE TO SPEAK IN
OPPOSITION OF TODAY'S MEASURE.
SEEN NOW AND I WILL BRING IT
BACK TO ADD THE COMMITTEE
MEMBERS FOR ANY QUESTIONS OR
COMMENTS.
THE BILL.
BUT I'M WE HAVE A MOTION BY
ASSEMBLYMEMBER SMITH IN THE
SECOND BY ASSEMBLYMEMBER RAMOS --
I I DO WANT TO JUST -- YOU KNOW
ALSO REITERATE HOW -- I BELIEVE
THIS IS ALSO AN IMPORTANT STEP
IN ENSURING THAT MANY ADDITIONAL
SMALL BUSINESSES ARE SERVED AND
THE NEEDS ARE MET.
I THINK THIS EXCLUSIVE FOCUS IS
WHAT IS NEEDED I'M IT'S A
CRITICAL STEP IN THE RIGHT
DIRECTION SO I THINK THE AUTHOR --
FOR FOCUSING ON THE SMALL
BUSINESS NEEDS OF OUR STATE --
WITH THAT TO THIS ARE THE MOTION
FOR BEFORE THE COMMITTEE IS DUE
PASSED WITH AMENDMENTS TO
ASSEMBLY COMMITTEE ON
APPROPRIATIONS.
SECRETARY PLEASE CALL THE ROLL.
ITEM SIX A. B. FOUR SEVENTY FOUR
THE MOTION IS DUE PASSED WITH
AMENDMENTS TO ASSEMBLY COMMITTEE
ON APPROPRIATIONS.
CHAIR CERVANTES.
CHAU CERVANTES HI VICE CHAIR
CUNNINGHAM.
CHANNEL.
CHANNEL HI CHEN.
CHEN FIVE RAMOS.
RAMOS ON A REVERSE [inaudible]
RIVERSIDE SMITH [inaudible]
SMITH I THE BILL HAS A VOTE FIVE
ZERO NAY DOES MOVE OUT OF
COMMITTEE BUT WE WILL LEAVE IT
OPEN FOR ABSENT MEMBERS.
THANK YOU.
THANK YOU
.
THE CONSENT AGENDA [inaudible]
THE SERVER
[inaudible]
THANK YOU.
THE NEXT BILL WILL BE A HEARING
IS AB SEVENTEEN TWENTY SIX BY.
THE MADAM CHAIR SABRINA
CERVANTES -- YOUR PLEASURE
MANAGER [inaudible]
THANK YEAR.
WHAT LET ME JUST FIRST OFF FIVE
STAR BY ACCEPTING THAT THE
COMMITTEE AMENDMENTS LISTED IN
COMMON SIX OF THE ANALYSIS --
WELL THE CALIFORNIA ECONOMY
RANKS FIFTH LARGEST IN THE WORLD
THIS PROSPERITY HAS BYPASS
SIGNIFICANT NUMBERS OF
INDIVIDUALS WHO ROUTINELY FACES
SYSTEMIC BARRIERS TO EMPLOYMENT.
AB SEVENTEEN TWENTY SIX
ESTABLISHES THE CALIFORNIA WORK
OPPORTUNITY TAX CREDIT AS AN
INCENTIVE FOR EMPLOYERS TO HIRE
INDIVIDUALS FROM CERTAIN
TARGETED POPULATIONS.
INCLUDING UNEMPLOYMENT VETERANS
INDIVIDUALS RECEIVING PUBLIC
ASSISTANCE INDIVIDUALS WITH THE
DISABILITY AND THE FORMALLY
INCARCERATED.
THE WHITE SEA.
BUILD THE FEDERAL WHITE SEA
WHICH PROVIDES FOR A THIRD PARTY
VERIFICATION OF EMPLOYEE
ELIGIBILITY.
ACCORDING TO A A WORD IN
BUSINESS SCHOOL STUDY CALIFORNIA
SAVES OVER A HUNDRED AND EIGHT
MILLION DOLLARS IN CONTRIBUTIONS
TOWARD TOWN SNAP AND MEDICAID
EACH YEAR AS A RESULT OF THE
FEDERAL WATCH C..
BY ADOPTING A STATE WATER SEE
CALIFORNIA FURTHERS ITS GOAL OF
INCLUSIVE ECONOMIC GROWTH.
BY SISTINE INDIVIDUALS WITH
BARRIERS TO EMPLOYMENT MOVED TO
WELFARE TO WORK.
WITH ME TO DATE WE HAVE A NUMBER
WITNESSES TO TESTIFY IN SUPPORT
I IN THE INTEREST OF TIME I WILL
ALLOW THEM TO INTRODUCE
THEMSELVES THANK YOU --
RESEARCHER MEMBERS MADAM CHAIR A
CHRISTMAS KAYLEE ON BEHALF OF
THE COMPUTING TECHNOLOGY
INDUSTRY ASSOCIATION IN SUPPORT
OF THE MEASURE.
I COULDN'T SAY IT MUCH BETTER
THAN -- THE CHEERS PRESENTATION
FIRST I WANT TO THANK YOUR
COMMITTEE STAFF FOR THE THOROUGH
ANALYSIS AND ALL THE HELP.
ON GETTING THIS BILL IN GREAT
SHAPE -- AS THE AUTHOR MENTIONED
THIS IS PATTERNED AFTER THE VERY
SUCCESSFUL FEDERAL WORK
OPPORTUNITY TAX CREDIT.
THE FEDERAL WHAT SEE WAS ENACTED
IN NINETEEN NINETY SIX BY
CONGRESS AND HAS BEEN RENEWED
EVER SINCE -- THERE'VE BEEN
NUMEROUS STUDIES -- THE MOST
RECENT ONE ON CALIFORNIA
SPECIFIC WAS THE TWENTY FOURTEEN
A WHARTON SCHOOL OF BUSINESS
THAT THE AUTHOR CITED HERE.
THE BEAUTY OF THIS PROGRAM IS IS
THAT WE ARE ABLE TO LEVERAGE AND
PIGGY BACK OFF OF THE FEDERAL
WHAT'S THE BECAUSE OUR E. D. D.
R. EMPLOYMENT DEVELOPMENT
DEPARTMENT ALREADY HAS THE
INFRASTRUCTURE.
AND DOES THE CERTIFICATION FOR
THE FEDERAL WATCH C. WHICH MEANS
WE LEVERAGE THAT AND OUR HOPE IS
THAT IT WILL.
INCREASE THE INCENTIVE VALUE FOR
CALIFORNIA BASED BUSINESSES AND
AGAIN THIS IS TARGETED AT
INDIVIDUALS WHO ARE FACING
SIGNIFICANT BARRIERS TO
EMPLOYMENT.
THE LAST POINT I WANT TO MAKE IS
IS THAT IN TWENTY TWELVE WHEN
THE GOVERNOR ELIMINATED THE I'M
SORRY THE PRIOR GOVERNOR BROWN --
WOMEN NEEDED THE STATE'S
ENTERPRISE ZONE PROGRAM.
HE IN THE LEGISLATURE ENACTED
THREE NEW INCENTIVES ONE OF
WHICH WAS A TARGETED NEW
EMPLOYMENT CREDIT THAT
UNFORTUNATELY YEAR AFTER YEAR
THE FRANCHISE TAX BOARD IN THE
LA -- HAVE NOTED THAT.
BECAUSE OF THE SIGNIFICANT
LIMITATIONS ON ITS USAGE -- IT'S
NOT BEEN VERY EFFECTIVE ARE
UTILIZED BY BUSINESS TAXPAYERS
IN THE STATE WE THINK A STATE
WATCH HE IS A FAR BETTER -- WAY
TO GO AND THEN LASTLY.
THE BILL DOES CONTAIN AS HAS
BEEN THE PREROGATIVE OF THE
LEGISLATURE OVER THE LAST HALF A
DOZEN YEARS.
A SUNSET DATE AND MATRIX TO
EVALUATE THE VALUE OF THIS
CREDIT.
WITHOUT AIR DRY VOTE THANK YOU.
GOOD MORNING ALONG THE BENSON
REPRESENTING THE NATIONAL
EMPLOYMENT OPPORTUNITY NETWORK
IT'S A NETWORK OF COULD END
ATTACKS OF PROFESSIONALS AS WELL
AS ASSISTANCE -- BY SIGHT
LOCATORS TO HELP ENCOURAGE
PEOPLE TO POTENTIALLY MOVING TO
CALIFORNIA OFTENTIMES
CALIFORNIA'S NOT LOOKED AT BUT
THIS IS A HIRING CREDIT THAT
CERTAINLY DOES TARGET THOSE
PEOPLE WHO ARE HARDEST TO HIRE.
THEIR PEOPLE THAT WOULD NOT BE
LOOKED AT OTHER WISE BUT FOR AN
INCENTIVE TO HELP HIGHER THAT
KIND OF PERSON TO PUT THEM BACK
INTO THE TO THE THE WORKING
CAREER MARKET.
HELP THEM PROVIDE MORE OF FOR
THEIR FAMILIES THROUGH A JOB AND
IT'S REALLY TO ENCOURAGE HELPING
THOSE TARGETED COMMUNITIES IT IS
HELPING BUSINESS BUT IT'S REALLY
ABOUT HELPING THOSE PEOPLE WHO
HAVE.
THE MOST DIFFICULT TIME IN
FINDING EMPLOYMENT WE FIND THAT
THIS IS JUST VERY COMPLIMENTARY
TO OUR THE FEDERAL PROGRAM THE
FEDERAL WHAT'S THE PROGRAM THAT
HAS.
BEEN VERY SUCCESSFUL AND YOU
KNOW THE NUMBERS ARE ARE SHOWN
BY EDT ALREADY -- SO WE IN
APPRECIATE YOUR SUPPORT TODAY
AND ENCOURAGE ARRIVE OUT.
THANK YOU ANY OTHER SPEAKERS IN
SUPPORT.
SHEPHERD ON BEHALF OF THE CAL
AGING CHAMBER OF COMMERCE IN
SUPPORT.
SCOTT HOW KEY SMALL BUSINESS
CALIFORNIA'S SPEAKING IN SUPPORT.
GOOD MORNING MADAM CHAIR LAURIE
CAMERA NATIONAL ASSOCIATION OF
WOMEN BUSINESS OWNERS SACRAMENTO
VALLEY CHAPTER IN STRONG SUPPORT.
GOOD MORNING MELISSA WARNER ON
BEHALF OF THE HOME DEPOT ALSO IN
SUPPORT THANK YOU.
ARE THERE ANY SPEAKERS IN
OPPOSITION.
SEEING NONE WOULD YOU LIKE TO
CLOSE.
I RESPECTFULLY ASK FOR YOUR VOTE
ON THIS MEASURE TODAY.
IS THERE A MOTION.
SECOND -- MOVE BY ASSEMBLYMEMBER
CHAO'S SECONDED BY ASSEMBLY
MEMBER SMITH I BELIEVE THE
MOTION IS.
DO PASS AS AMENDED TO THE
COMMITTEE ON REVENUE AND
TAXATION.
SECRETARY PLEASE CALL THE ROLL.
ITEM FOR AB SEVENTEEN TWENTY SIX
THE MOTION IS TO PASS WITH
AMENDMENTS TO ASSEMBLY COMMITTEE
ON REVENUE AND TAXATION CHAIR
CERVANTES.
CHAU CERVANTES ON FOSTER COMING
IN.
FOSTER CUNNINGHAM I CHAO.
CHANNEL LINE CHEN.
CHEN HI RAMOS.
RAMOS AYE REAVIS.
RIVERSIDE SMITH.
SMITH I THAT IS SEVEN ZERO
POINTS OUT
.
THANK YOU MISTER CHAIR.
BUT WE WILL GO AHEAD AND
CONTINUE ON WITH THE AGENDA AND
GO TO ITEM FILE ITEM NUMBER
THREE AB TWELVE SEVENTY FOUR
ASSEMBLY MEMBER SALAS BEGAN WHEN
YOU ARE READY.
THANK YOU MADAM CHAIR AND
COMMITTEE MEMBERS A PRESENT
BEFORE YOU ASSEMBLY BILL --
TWELVE SEVENTY FOUR WHICH WILL
CODIFY THE CALIFORNIA
PARTNERSHIP FOR THE SAN JOAQUIN
VALLEY WHICH WAS SABOTAGED BY
EXECUTIVE ORDER IN TWO THOUSAND
AND FIVE PARTNERSHIP IS MADE UP
OF BOARD MEMBERS APPOINTED BY
THE GOVERNOR.
AND MADE UP OF THE GOVERNOR'S
CABINET MEMBERS REPRESENT AS OF
LOCAL GOVERNMENTS AND BUSINESS
LEADERS FROM EACH SAN JOAQUIN
VALLEY COUNTY.
PARTNERSHIPS MISSION IS TO
CONNECT COLLABORATE IN ADVOCATE
AROUND ISSUES FACING THE EIGHT
COUNTY SAN JOAQUIN VALLEY VISION
OF THE PARTNERSHIP IS A
PROSPEROUS ECONOMY QUALITY
ENVIRONMENT AND SOCIAL EQUITY
THROUGHOUT THE SAN JOAQUIN
VALLEY -- THIS BILL HAS NO
OPPOSITION RESPECTFULLY ASK FOR
NAY BUT IS THERE ANYONE WHO LIKE
TO SPEED SPEAK IN SUPPORT OF
TODAY'S MEASURE.
ANYONE WHO LIKE TO SPEAK IN
OPPOSITION OF THIS MEASURE
[inaudible]
THE COMMITTEE MEMBERS ARE THERE
ANY COMMENTS.
OKAY THERE IS A MOTION BY
ASSEMBLY MEMBER CHEN AND THE
SECOND BY ASSEMBLY MEMBER SMITH --
DO YOU ARE YOU ACCEPTING TODAY'S
COMMITTEE MOMENTS.
YES WONDERFUL THANK YOU SAID
THIS -- BILL IS DUE PASSED WITH
AMENDMENTS TO THE ASSEMBLY FLOOR --
I DO WANT TO JUST NOTE THAT SIDE
JUST READING THROUGH THE
ANALYSIS INTO THIS BILL -- I
THINK THIS IS A A STRONG
PARTNERSHIP THAT WE SEE -- IN IN
YOUR PART OF THE REGION AND TO
LOOK FOR TO SEE WHAT WILL COME
OF IT AND HOW WE CAN.
CONTINUE TO WORK TOGETHER.
TO SHOWCASE THIS ACROSS THE
STATE ABSOLUTELY THANK YOU MADAM
CHAIR THEN I DO BELIEVE WE ARE
ADDING SOME CAUGHT THEIR SELF WE
WE CAN DO THAT TOO AS IT MOVES
THROUGH THE COMMITTEE.
WONDERFUL OUT WOULD YOU LIKE TO
CLOSE RESPECTFULLY ASK FOR
NEIGHBORHOOD.
SECRETARY PLEASE CALL THE ROLL.
ITEM THREE A. B. TWELVE SEVENTY
FOR THE MOTION IS TO PASS WITH
AMENDMENTS TO THE ASSEMBLY FLOOR
CHAIRS CERVANTES.
AYE CHAU CERVANTES ON A VICE
CHAIR CUNNINGHAM.
VICE CHAIR CUNNINGHAM ON CHANNEL.
CHANNEL ON A CHEN.
CHEN HI RAMOS.
RAMOS I AGREE THIS.
PREVIOUS AYE SMITH [inaudible]
SMITH.
THE BILL IS OUT SEVEN ZERO THANK
YOU.
NEXT ITEM ON THE AGENDA WE WILL
GO TO ITEM NUMBER.
SEVEN ASSEMBLY MEMBER REAVIS IS
RESIGNING AB TWELVE FIFTY NINE
TODAY.
BEGAN WHEN YOU'RE READY THANK
YOU THANK YOU MADAM CHAIR AND
MEMBERS -- FIRST I WANT TO
ACCEPT ALL THE COMMITTEE
AMENDMENTS AND APPRECIATE THE
CHAIR AND COMMITTEE STAFF FOR
WORKING WITH ME ON THIS BILL --
THE AMENDMENTS ARE ALL TECHNICAL
IN NATURE AND SO TODAY I'M PROUD
TO PRESENT AB.
TWELVE FIFTY NINE BECAUSE THIS
BILL REPRESENTS HOPE AND
OPPORTUNITY FOR MY DISTRICT AND
OTHER DISTRICTS ACROSS
CALIFORNIA FACING SIMILAR
ECONOMIC HARDSHIP.
AB TWELVE FIFTY NINE SIXTY
CREATED A STATE NEW MARKET TAX
CREDIT.
PROGRAM MODELED OFF THE
SUCCESSFUL FEDERAL NMTC PROGRAM
TO ATTRACT INVESTMENT FROM
PRIVATE INVESTORS TO REVITALIZE
LOW INCOME CALIFORNIA
COMMUNITIES.
THE STATE NMTC PROGRAM AND FUNDS
WILL BE CREATED AND ADMINISTERED
BY THE GOVERNOR'S OFFICE OF
BUSINESS DEVELOPMENT -- GOBIZ.
I'M GOBIZ ALLOWS FOR COMMUNITY
DEVELOPMENT ENTITIES THAT CAN
DEMONSTRATE THE ABILITY TO
UNDERTAKE BUSINESS.
BUSINESS IS A COMMUNITY
DEVELOPMENTS IN LOW INCOME AREAS
OF THE STATE TO APPLY FOR THESE
TAX CREDITS -- TAXPAYERS CAN
VOLUNTARILY INVEST MONEY INTO
THE CD AND IN RETURN RECEIVE A
TAX CREDIT VALUE AT 39% OF THE
SUM THAT THEY INVESTED.
THE MONEY INVESTED BY TAXPAYERS
TO CD'S WILL BE USED TO FINANCE
BUSINESS DEVELOPMENT ACTIVITIES.
IN LOW INCOME COMMUNITIES
INCLUDING LOANS EQUITY
INVESTMENTS AND TECHNICAL
ASSISTANCE.
THIS PROGRAM HAS BEEN VERY
SUCCESSFUL AT THE NATIONAL LEVEL
ACCORDING TO THE NMTC PROGRESS
REPORT.
THE FEDERAL AN MCC PROGRAM
SUPPORTED THE CONSTRUCTION OF
MILLIONS OF SQUARE FEET AND
MANUFACTURING OFFICE AND RETAIL
SPACE SINCE.
TWO THOUSAND THREE IF CALIFORNIA
HAS A STATE AN MTC PROGRAM
CITIES WILL BE ABLE TO UTILIZE
OF FEDERAL.
AND STATE TAX CREDIT TO NOT ONLY
FOR THEIR INCENTIVIZE CD EASE TO
INVEST AND GROW OUR ECONOMY BUT
TO ALSO REVITALIZED ARE
DISADVANTAGED COMMUNITIES -- I
WANT TO THANK YOU AND I
RESPECTFULLY ASK FOR YOUR AYE
VOTE.
THANK YOU WAS THERE ANY MEMBERS
OF THE PUBLIC WHO WISH TO SPEAK
IN SUPPORT OF THE MEASURE.
GOOD MORNING MADAM CHAIR.
AND MEMBERS LAURIE CAMERA
NATIONAL ASSOCIATION WOMEN
BUSINESS OWNERS SACRAMENTO
VALLEY CHAPTER IN STRONG SUPPORT
THANK.
SCOTT HOW HE SMALL BUSINESS
CALIFORNIANS SUPPORT.
ANY MEMBERS OF THE PUBLIC WHO
WISH TO SPEAK IN OPPOSITION.
CNN -- COMMITTEE MEMBERS I WISH.
TO ASK QUESTIONS OR COMMENTS
[inaudible]
THE BILL.
ARE WE HAVE A MOTION BY
ASSEMBLYMEMBER SMITH IN THE
SECOND BY ASSEMBLY MEMBER RAMOS --
THE MOTION BEFORE THE COMMITTEE
IS DUE PASSED -- WITH AMENDMENTS
TO ASSEMBLY COMMITTEE ON REVVING
TAX THANK YOU FOR ACCEPTING THE
COMMITTEE MEMBERS TODAY.
SECRETARY -- WILL YOU PLEASE
CALL THE ROLL.
ITEM SEVEN A. B. TWELVE FIFTY
NINE THE MOTION IS TO PASS WITH
AMENDMENTS TO ASSEMBLY COMMITTEE
ON REVENUE AND TAXATION.
CHAIR CERVANTES.
CHAU CERVANTES ONLINE VICE CHAIR
CUNNINGHAM.
BUT YOU'RE CUNNINGHAM AYE
CHANNEL.
CHANNEL BY CHEN.
CHEN HI RAMOS.
MOST AYE REAVIS HIGH PREVIOUS
AYE SMITH [inaudible]
SMITH [inaudible]
THANK YOU.
NOT BILLS OUT WITH [inaudible]
SEVEN ZERO THAT'S AND THE
NUMBERS.
YES.
SOBRE FROM TOP TO BOTTOM.
I WILL BE AYE LIFTING THE CALLS
ON ITEM NUMBER.
TWO ITEM NUMBER FIVE AND ITEM
NUMBER SIX ARE WE WILL BEGIN
WITH ITEM NUMBER TWO AB TEN
TWENTY SEVEN BURKE.
ITEM TO AB.
TEN TWENTY SEVEN THE MOTION IS
TO PASS WITH THE MEMBERS TO
ASSEMBLY COMMITTEE ON REVENUE
AND TAXATION VICE CHAIR COMING
IN [inaudible]
RAMOS.
RAMOS I PREVIOUS [inaudible]
REVERSE HI.
THAT BILL IS OUT WITH A VOTE OF
FIVE ZERO THE NEXT ITEM WE WILL
MOVE TO IS ITEM NUMBER FIVE AB
TWENTY THREE BURKE.
PLEASE CALL THE ABSENT MEMBERS.
ITEM FIVE AB TWENTY THREE THE
MOTION IS TO PASS WITH THE
MEMBERS TO ASSEMBLY COMMITTEE ON
APPROPRIATIONS.
BY SIR CUNNINGHAM.
PLACER CUNNINGHAM ONLINE.
ROMANS [inaudible]
RAMOS.
NOT THOSE OUT.
SEVEN ZERO MEMBERS WOULD ANYONE
LIKE TO TAKE A TODAY'S CONSENT
CALENDAR.
WE HAVE A MOTION BY VICE CHAIR
CUNNINGHAM IN A SECOND BY
ASSEMBLY MEMBER SMITH.
WOULD ANYONE LIKE TO REMOVE AN
ITEM FROM THE CONSENT CALENDAR.
HERE IN OUR FOR THE COMMENTS I
HAVE A MOTION AND SECOND --
SECRETARY PLEASE CALL THE ROLL.
ON CONSENT ITEM ONE A. B. NINE
ZERO SIX THE MOTION IS TO PASS
WITH THE MEMBERS TO ASSEMBLY
COMMITTEE ON APPROPRIATIONS ITEM
EIGHT AB THIRTEEN SIXTY FIVE THE
MOTION IS TO PASS. TO ASSEMBLY
COMMITTEE ON APPROPRIATIONS ITEM
NINE A. B. FIFTEEN THIRTY THREE
THE MOTION IS TO PASS TO THE
FLOOR.
ITEM TEN MAYBE FIFTEEN SEVENTY
SEVEN THE MOTION IS TO PASS WITH
AMENDMENTS TO THE FLOOR.
ITEM ELEVEN AB EIGHTEEN OH SIX
THE MOTION IS TO PASS TO
ASSEMBLY COMMITTEE ON
APPROPRIATIONS.
ITEM TWELVE AB EIGHTEEN ZERO
SEVEN THE MOTION IS TO PASS WITH
AMENDMENTS TO ASSEMBLY COMMITTEE
ON APPROPRIATIONS ITEM THIRTEEN
A. B. SIXTEEN NINETY SIX THE
MOTION IS TO PASSED WAS ON THE
COMMITTEE ON APPROPRIATIONS.
CHAIR CERVANTES HI TEARS OF ON
TO SIGN PLACER CUNNINGHAM.
PLACER CUNNINGHAM ON A CHANNEL.
CHANNEL ON A CHEN.
CHEN MY RAMOS.
ON A REVERSE.
REVERSE ON A SMITH.
SMITH.
NOT OURMOTION IS OUT. SEVEN
ZERO TWO TO ONE CHECKUP OF ONE
WITH THE ALLIES.
WE WILL BE MOVING TO ITEM NUMBER
SIX A. B. FOUR SEVEN FOUR PLEASE
CALL THE ABSENT MEMBERS.
ITEM SIX A. B. FOUR SEVEN FOR
THE MOTIONS TO PASS WITH THE
MEMBERS TO ASSEMBLY COMMITTEE ON
APPROPRIATIONS BY SIR CUNNINGHAM
[inaudible]
PLACER CUNNINGHAM.
NOT BILLS OUT
.
SEVEN ZERO JUST A MINUTE TO
CHECK [inaudible]
BUT THIS IS MY THIRD JUST.
MAKING [inaudible]
OKAY.
THANK YOU MEMBERS OF THE PUBLIC
AND MEMBERS OF THE COMMITTEE --
FOR TODAY'S HEARING THIS MEETING
IS NOW DROWNED [inaudible]
YEAH.
THANKS FOR YOUR YEAH ALL THESE
ROLES [inaudible]
FOR THANK YOU -- YES