In preparation for the oversight hearing, the JEDE Chair asked GO-Biz to provide a written update on implementation of certain legislation. Below is a the agency's response to the first question regarding the roles and responsibilities of GO-Biz.
A selection of responses are provided below. A copy of GO-Biz' full response is available here.
Section of Legislation from the 2011-12 Session
AB 29 (John A. Pérez, Feuer and V. Manuel Pérez) Office of Business and Economic Development: This bill establishes The Governor’s Office of Business and Economic Development (GO-Biz), to be administered by a director appointed by the Governor. The bill would also moves the Office of the Small Business Advocate to the Office of Economic Development. Status: Signed by the Governor, Chapter 475, Statutes of 2011.
STATUS: Implemented
AB 2012 (John A. Pérez) Economic Development Reorganization: This bill transfers the authority for undertaking international trade and foreign investment activities from the Business, Transportation and Housing Agency to GO-Biz. In addition, the bill transfers the responsibility for establishing an Internet-based permit assistance center from the Secretary of the California Environmental Protection Agency to GO-Biz. Status: Signed by the Governor, Chapter 294, Statutes of 2012
STATUS: Implemented
AB 2671 (Assembly Committee on Jobs, Economic Development and the Economy) Small Business Access to Capital: This bill makes the 2007 program enhancements permanent by removing the sunset on the maximum allowable leverage of reserve funds under the Small Business Loan Guarantee Program (SBLGP). More specifically, the bill deletes the sections of the law that would become effective January 1, 2013 that set the maximum reserve of four dollars for every one dollar of loan guaranteed. The effect of this change is to make the five dollars for every one dollar guarantee the permanent maximum reserve. The Director of the SBLGP has the discretion to set a lesser leverage amount for the overall program and for any individual small business financial development corporation. Status: Signed by the Governor, Chapter 648, Statutes of 2012.
STATUS: Implemented
Selection of Legislation from the 2013-14 Session
AB 93 (Assembly Committee on Budget) California Competes Tax Credit and State Sales and Use Tax Exemption: This bill institutes three new tax programs, a Sales and Use Tax exemption for manufacturing and bio-tech equipment and similar purchases; a California Competes tax credit for attracting and retaining major employers; and a hiring credit under the Personal Income Tax and Corporation Tax for employment in specified geographic areas. Additionally, the bill results in the phasing-out and ending of certain tax provisions, related Enterprise Zones and similar tax incentive areas, and the end of the current Small Business New Jobs Credit tax incentive program. The bill also provides for allocating the California Competes tax credit through GO-Biz to assist in retaining existing and attracting new business activity in the state. Status: Signed by the Governor, Chapter 69, Statutes of 2013.
STATUS: Implemented
AB 337 (Allen) Economic Development: International Trade and Investment Strategy: This bill adds specificity to the development and content of the state international trade and investment strategy (ITI Strategy), which is an existing report requirement of GO-Biz. This bill requires the ITI Strategy to be based on current and emerging market conditions and the needs of investors, businesses, and workers. Specific new content requirements include the addition of a framework, which can be used by GO-Biz to evaluate the changing needs of business during the five-year term of the ITI Strategy. Status: Signed by the Governor, Chapter 776, Statutes of 2014.
STATUS: The first Strategy report was issued in February 2014 (see here for report). This bill became law on January 1, 2015. The changes in this bill will impact the next report, due February 1, 2019.
AB 250 (Holden and V. Manuel Pérez) Codification of California Innovation Hubs: This bill codifies and expands the California Innovation Hub Program at GO-Biz for the purpose of stimulating economic development and job creation through the regional coordination of federal, state, and local innovation-supporting resources. Status: Signed by the Governor, Chapter 530, Statutes of 2013.
STATUS: Partially implemented. MOU’s have been entered into with most iHub’s. Annual reports from each iHub for 2015 activities have been submitted by most iHub’s and the report is currently being finalized.
AB 393 (Cooley) GO-Biz Website: This bill requires the Director of GO-Biz to ensure that the GO-Biz website contains information on the fee requirements and fee schedules of state agencies. Status: Signed by the Governor, Chapter 124, Statutes of 2013.
STATUS: Implemented. See here for form and fee finder.