Bill Text: CA AB879 | 2023-2024 | Regular Session | Introduced
Bill Title: Bioscience Economic Opportunity Program: grants.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2024-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB879 Detail]
Download: California-2023-AB879-Introduced.html
CALIFORNIA LEGISLATURE—
2023–2024 REGULAR SESSION
Assembly Bill
No. 879
| Introduced by Assembly Member Villapudua |
February 14, 2023 |
An act to amend Section 63035 of, and to add Section 13998.13 to, the Government Code, relating to economic development.
LEGISLATIVE COUNSEL'S DIGEST
AB 879, as introduced, Villapudua.
Bioscience Economic Opportunity Program: grants.
Existing law creates the Infrastructure and Economic Development Bank within the Governor’s Office of Business and Economic Development and commits to it the administration of various programs. Existing law requires the bank, not later than January 1 of each year, to submit a report to the Strategic Growth Council, the Governor, the Speaker of the Assembly, the President pro Tempore of the Senate, and the Legislative Analyst’s Office for the preceding fiscal year, as specified, containing information on the bank’s activities relating to the infrastructure bank fund and programs.
This bill would require the report to also include information on the bank’s impact on high technology industry clusters, including, but not limited to, healthcare technology, multimedia, environmental technology, and information technology.
Existing law establishes within state government the office of the Treasurer and establishes various programs under the jurisdiction of the Treasurer designed to facilitate the collaborative work between public and private partners and to provide innovative and effective solutions for California’s industries.
This bill would establish the Bioscience Economic Opportunity Program within state government under the jurisdiction of the Treasurer. The bill would establish the Bioscience Economic Opportunity Program Board and would set forth its membership. The bill would establish the purposes of the program including providing and administering state grants, coordinating federal funding, and engaging in other activities to promote innovation, research, and education of the bioscience industry. The bill would set forth the criteria for awarding grants under the program.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 63035 of the Government Code is amended to read:63035.
(a) The bank shall, not later than January 1 of each year, submit to the Strategic Growth Council, the Governor, the Speaker of the Assembly, the President pro Tempore of the Senate, the Legislature, and the Legislative Analyst’s Office, pursuant to Section 9795, a report for the preceding fiscal year ending on June 30 containing information on the bank’s activities relating to the infrastructure bank fund and programs. The report shall include all of the following:(1) (A) Information on the infrastructure bank fund, including, but not limited to, its present balance, moneys encumbered, moneys allocated, repayments, and other sources of revenues received during the fiscal year.
(B) Information on the impact of the activities funded by the infrastructure bank fund moneys, including, but not limited to, the number of jobs created and retained, the environmental impact that resulted, and economic value provided to the state.
(C) Information on the bank’s impact on high technology industry clusters, including, but not limited to, healthcare technology, multimedia, environmental technology, and information technology as defined in subdivision (f) of Section 13998.
(2) A specification of conduit and revenue bonds sold and interest rates thereon, including, but not limited to, the use of the bond proceeds.
(3) The amount of other public and private funds leveraged by the
assistance provided.
(4) A report of revenues and expenditures for the preceding fiscal year, including all of the bank’s costs. The information provided pursuant to this subdivision shall include, but need not be limited to, both of the following:
(A) The amount and source of total bank revenues. Revenues shall be shown by main categories of revenues, including the General Fund, special funds, federal funds, interest earnings, fees collected, and bond proceeds, for each bank program.
(B) The amount and type of total bank expenditures. Expenditures shall be shown by major categories of expenditures, including loans provided, debt service payments, and program support costs, for each bank program.
(5) A projection of the bank’s needs and requirements for
the coming year.
(6) Recommendations for changes in state and federal law necessary to meet the objectives of this division.
(7) The contents of the report prepared by the program manager of the California Small Business Finance Center consistent with the requirements of Section 63089.98.
(8) The contents of the report containing Climate Catalyst Revolving Loan Fund Program activity consistent with the requirements of Section 63048.94.
(b) The executive director shall post the report on the bank’s internet website.
SEC. 2.
Section 13998.13 is added to the Government Code, to read:13998.13.
(a) The Bioscience Economic Opportunity Program is hereby established within state government, under the jurisdiction of the Treasurer.(b) The purpose of the program is to award and administer state grants, coordinate federal funding, and engage in other activities to promote innovation, research, and education of the bioscience industry in California.
(c) The Bioscience Economic Opportunity Program Board is hereby created within state government. The board shall consist of the following members:
(1) The Treasurer, or their designee, who shall serve as the chair.
(2) The Director of Finance, or their designee.
(3) The Controller, or their designee.
(4) An individual from the bioscience sector, appointed by the Treasurer.
(5) An individual from the bioscience sector who represents organized labor, appointed by the Treasurer.
(6) An individual from the bioscience sector who represents academia, appointed by the Treasurer.
(7) An individual from the bioscience sector who represents patient organizations, appointed by the Treasurer.
(d) All members of the board shall serve without compensation. Members of the board shall be
reimbursed for necessary travel expenses incurred in connection with their board duties.
(e) The program shall award grants upon a competitive application process to applicants who can demonstrate that the grant’s funds will be used to promote innovation, research, and education in the bioscience industry.
(f) For purposes of this section, “bioscience” means any modern technology that uses living organisms, or parts of organisms, to produce or modify products, to improve plants or animals, or to develop microorganisms for specific uses.
