- General Background on Innovation
- Key Concepts
- Fast Facts on California's Innovation Economy
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Given California’s historical leadership in innovation, public policy makers have engaged in the development of legislation on issues related to innovation, technology development, comparative advantage and globalization in the California economy.
Committee staff have reviewed and summarized legislation from the current and past three legislative sessions in the areas of access to capital, infrastructure, workforce development and government reforms. Illustrative examples are provided below:
AB 1320 (Fong) Lifelong Learning Accounts Initiative Program: This bill would have created the Lifelong Learning Accounts Initiative Program for the purpose of providing grants to employers and employees to establish individual lifelong learning accounts, as defined, for the deposit of funds to be used by those employees and employers for purposes related to lifelong education and training. However, the bill specified that its requirements shall only be implemented if the Director of Finance makes a written determination that there are sufficient funds from sources other than the General Fund available for that purpose. Status: The bill was held under submission by Senate Appropriations Committee, 2009.
AB 1646 (Campos) California Demonstration of Emerging Market Opportunities Act: This bill establishes the California Demonstration of Emerging Market Opportunities Program, administered through the Governor's Office of Business and Economic Development, for the purposes of facilitating public/private partnerships and other opportunities for businesses and nonprofit organizations to test, evaluate, or demonstrate innovative products and services. Status: The bill was held under submission in Senate Appropriations Committee, 2012.
AB 2037 (Davis and V. Manuel Pérez) New Markets Tax Credit: This bill establishes a state new Markets Tax Credit Program that is applicable to environmental justice, as well as other economic development projects in lower income areas. Status: The bill was held under submission in the Assembly Committee on Appropriations, 2012.
AB 2506 (V. Manuel Pérez) Innovation and Job Creation Act of 2012: This bill authorizes a comprehensive set of enhancements to tax incentive programs and administrative procedures including a manufacturing sales tax exemption, increased R&D credits and secondary education donation credits for the purpose of creating jobs and supporting innovation-based businesses. Status: The bill was held at the author's request in the Assembly Committee on Business, Professions and Consumer Protection, 2012.
SB 617 (Calderon) State Government and Financial and Administrative Accountability: This bill revises the state Administrative Procedures Act to require each state agency adopting a major regulation to prepare an economic impact analysis and requires state agencies to implement ongoing monitoring of internal auditing and financial controls and other best practices in financial accounting. Status: The bill was signed by the Governor, Chapter 496, Statutes of 2011.
SB 907 (Evans) 20-Year Infrastructure Master Plan: This bill establishes an 11-member Master Plan for Infrastructure Financing and Development Commission. The Commission is required to submit to the Governor and Legislature, by December 1, 2013, a long-term plan and strategy for the state’s infrastructure needs and a prioritized plan to meet those needs. The Commission is also required to submit periodic progress reports. Status: The bill was held in the Assembly Committee on Jobs, Economic Development and the Economy, 2012.
SB 1401 (Lieu) Workforce Investment Boards: This bill modifies the state's implementation of the federal Workforce Investment Act to encourage state and regional sector strategies based on the needs of business and industry. Status: The bill was held in the Assembly Committee on Appropriations, 2012.
AB 1402 (Lieu) Economic and Workforce Development Program: The bill recasts and revises the California Community Colleges Economic and Workforce Development Program to more closely align with economic and workforce best practices and extends the program's sunset date from January 1, 2013 to January 1, 2018. Among other things, the bill requires the use of sector strategies based on research and data on the dominant and emerging industries of the state and region. Status: The bill is pending in the Governor's Desk, September 2012.