Bill Text: CA AB2374 | 2019-2020 | Regular Session | Introduced

California Assembly Bill 2374 (Prior Session Legislation)

Introduced

Bill Title: California Bioscience Economic Opportunity Authority.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2020-02-19 - From printer. May be heard in committee March 20. [AB2374 Detail]

Download: California-2019-AB2374-Introduced.html

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill

No. 2374

Introduced by Assembly Member Arambula

February 18, 2020

An act to add Chapter 5 (commencing with Section 13999) to Part 4.7 of Division 3 of Title 2 of the Government Code, relating to state government.

LEGISLATIVE COUNSEL'S DIGEST

AB 2374, as introduced, Arambula. California Bioscience Economic Opportunity Authority.

The California Constitution establishes the Office of the Treasurer. Existing law requires the Treasurer to serve on various commissions, including the California Healthy Food Financing Initiative Council, the California Alternative Energy and Advanced Transportation Financing Authority, and the California Passenger Rail Financing Commission.

This bill would establish the California Bioscience Economic Opportunity Authority within the Office of the Treasurer with the purpose of administering grants from the state, and engaging in other activities to promote innovation, research, and education in the bioscience industry. The bill would provide that the authority consists of the Director of Finance, the Controller, and the Treasurer. The bill would establish the Bioscience Grant Program, to be administered by the authority and would require the authority to award grants on a competitive basis to applicants that can demonstrate that grants will be used to promote innovation, research, and education in the bioscience industry.

Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

Chapter 5 (commencing with Section 13999) is added to Part 4.7 of Division 3 of Title 2 of the Government Code, to read:

CHAPTER 5. California Bioscience Economic Opportunity Authority Act

13999.

This chapter shall be known, and may be cited, as the California Bioscience Economic Opportunity Authority Act.

13999.1.

The purpose of the authority is to administer grants from the state, and engage in other activities to promote innovation, research, and education in the bioscience industry in the state.

13999.2.

For purposes of this chapter:

(a) “Authority” means the California Bioscience Economic Opportunity Authority established pursuant to Section 13999.3.

(b) “Program” means the Bioscience Grant Program established pursuant to Section 13999.4.

13999.3.

(a) There is hereby created the California Bioscience Economic Opportunity Authority within the Office of the Treasurer that shall consist of the following members:

(1) The Director of Finance.

(2) The Controller.

(3) The Treasurer, who shall serve as the chairperson of the authority.

(b) The members listed in paragraphs (1) to (3), inclusive, of subdivision (a) may each assign a designee to act for and represent the member at all meetings of the authority. Moneys for the grant program shall be made available upon appropriation by the Legislature in the Budget Act.

13999.4.

(a) There is within the Office of the Treasurer the Bioscience Grant Program, which shall be administered by the authority.

(b) Program grants shall be awarded on a competitive basis to applicants that can demonstrate that grants will be used to promote innovation, research, and education in the bioscience industry.

(c) The authority shall establish a process to apply for program grants and establish a criteria for evaluating applications.