Bill Text: CA SB1465 | 2011-2012 | Regular Session | Amended

California Senate Bill 1465 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Food safety: Asian rice-based noodles.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2012-09-27 - Chaptered by Secretary of State. Chapter 658, Statutes of 2012. [SB1465 Detail]

Download: California-2011-SB1465-Amended.html

BILL NUMBER: SB 1465	AMENDED
	BILL TEXT

	AMENDED IN SENATE  MAY 9, 2012
	AMENDED IN SENATE  MAY 1, 2012
	AMENDED IN SENATE  APRIL 18, 2012
	AMENDED IN SENATE  APRIL 9, 2012

INTRODUCED BY   Senator Yee
   (Coauthor: Senator Correa)
   (Coauthors: Assembly Members Ammiano, Blumenfield, Huffman, and
Wieckowski)

                        FEBRUARY 24, 2012

   An act to add Section 14077 to the Corporations Code, and to add
Section 44559.13 to  , and to add Article 9 (commencing with
44559.15) to Chapter 1 of Division 27 of,  the Health and
Safety Code, relating to economic development.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1465, as amended, Yee.  Export Financing Advisory
Board.   Loan programs. 
   (1) The California Small Business Financial Development
Corporation Law authorizes the formation of small business financial
development corporations to grant loans or loan guarantees for the
purpose of stimulating small business development. That law imposes
certain duties with respect to that program on a director designated
by the Secretary of Business, Transportation and Housing. The
California Small Business Expansion Fund, which is created under that
law and is continuously appropriated, provides funds to be used to
pay for defaulted loan guarantees and administrative costs of these
corporations.
   This bill would require the Secretary of Business, Transportation
and Housing or his or her designee, to the extent that the secretary
determines to be practical,  to  enter into loans or loan
guarantee agreements with financial institutions that provide export
financing in the state for the purpose of increasing exports to
out-of-state markets and increasing jobs in California. 
   (2) The California Pollution Control Financing Authority Act
establishes the California Pollution Control Financing Authority,
with specified powers and duties, and authorizes the authority to
approve financing for projects or pollution control facilities to
prevent or reduce environmental pollution.  
   This bill would create the Export Financing Advisory Board within
the California Pollution Control Financing Authority to advise the
Secretary of Business, Transportation and Housing, the Governor's
Office of Business and Economic Development, and the California
Pollution Control Financing Authority (authority) on trends and
opportunities in export financing.  
   (3) 
    (2)  Existing law establishes the Capital Access Loan
Program for small businesses, administered by the California
Pollution Control Financing Authority  (authority) 
, which provides loans through participating financial institutions
to qualifying small businesses.
   This bill would require the authority to, to the extent that the
authority determines to be practical, enter into  qualified 
loans  or loan guarantee agreements   , as
defined,  with financial institutions that provide export
financing, for the purpose of increasing exports to out-of-state
markets and increasing jobs in California.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  The Legislature finds and declares all of the
following:
   (a) The great recession that began in 2007 has severely eroded
California's economy, and manufacturing and production sectors will
be the principal contributors to the economic recovery. Underwriting
export finance loans is a promising financial tool to grow
manufacturing and production jobs, while generating new revenues for
the state.
   (b) International trade and expanding export markets have been an
important part of California's economic prosperity over the last 60
years. This legislation is necessary to assist California's most
successful and promising small businesses and industries to secure
markets beyond its borders. The credit support provided by this
legislation is necessary to facilitate expansion of financially
secure businesses and industries that have insufficient international
experience or access to credit to secure financing from private
sources. The credit support provided by this legislation will be used
to facilitate export expansion and is intended to be targeted to new
or emerging ventures and provide temporary assistance.
   (c) The Governor's Office of Business and Economic Development
uses its expertise and state resources to support small businesses
that need financial assistance and professional advice to succeed in
markets beyond California's borders.
  SEC. 2.  Section 14077 is added to the Corporations Code, to read:
   14077.  In connection with his or her duties under this chapter,
the secretary or his or her designee shall, to the extent that the
secretary determines to be practical, enter into loans or loan
guarantee agreements with financial institutions that provide export
financing in the state for the purpose of increasing exports to
out-of-state markets and increasing jobs in California.
  SEC. 3.  Section 44559.13 is added to the Health and Safety Code,
to read:
   44559.13.  In connection with its duties under this article, the
authority shall, to the extent that the authority determines to be
practical, enter into  loans or loan guarantee agreements
  a qualified loan, as defined by subdivision (j) of
Section 44559.1,  with financial institutions that provide
export financing, for the purpose of increasing exports to
out-of-state markets and increasing jobs in California. 
  SEC. 4.    Article 9 (commencing with Section
44559.15) is added to Chapter 1 of Division 27 of the Health and
Safety Code, to read:

      Article 9.  Export Financing Advisory Board


   44559.15.  (a) The Export Financing Advisory Board is hereby
created within the California Pollution Control Financing Authority.
The purpose of the board is to advise the Secretary of Business,
Transportation and Housing, the Governor's Office of Business and
Economic Development, and the California Pollution Control Financing
Authority on trends and opportunities in export financing. The
Executive Director of the California Pollution Control Financing
Authority shall oversee the board. The findings and recommendations
of the board shall be advisory only.
   (b) The board shall consist of 11 members as follows:
   (1) One member appointed by the Secretary of Food and Agriculture
who is knowledgeable about, and possess at least 10 years of
experience in, the exporting and export finance needs of California
agriculture.
   (2) Four members representing export firms, two each appointed by
the Governor and the Speaker of the Assembly, who possess at least 10
years of experience in exporting, are knowledgeable about the needs
and problems of small and entrepreneurial exporters, and actively
employed with an exporting firm, export trading company, or export
management company.
   (3) Four members representing financial institutions, two each
appointed by the Governor and the Senate Committee on Rules, who
shall possess at least 10 years of experience in export financing, be
knowledgeable about the export financing needs and problems of small
and entrepreneurial exporters, and be actively employed with
financial institutions.
   (4) Two members, one each appointed by the Treasurer and the
Controller, who shall possess at least 10 years of experience
evaluating the credit worthiness and financial strength of businesses
seeking to be, or currently engaged in, export transactions.
   (c) The appointing authorities described in subdivision (b) shall
make their initial board appointments before April 2, 2013.
   (d) Seven members of the board shall constitute a quorum.
   (e) The Executive Director of the California Pollution Control
Financing Authority shall call the initial meeting of the board and
serve as interim chair of the board until a chair has been elected.
   (f) Board members shall serve at the pleasure of the appointing
authority and vacancies shall be filled by the appointing authority.
   (g) Board members shall serve without compensation.