Amended in Assembly April 18, 2013

Amended in Assembly April 16, 2013

California Legislature—2013–14 Regular Session

Assembly BillNo. 1067


Introduced by Assembly Member Medina

(Coauthors: Assembly Members Brown, Fox, and V. Manual Pérez)

February 22, 2013


An act to add Chapter 4.2 (commencing with Section 6315) to Division 7 of Title 1 of the Government Code, relating to economic development.

LEGISLATIVE COUNSEL’S DIGEST

AB 1067, as amended, Medina. Economic development: foreign trade.

The Governor’s Office of Business and Economic Development serves as the Governor’s lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. The office, among others, makes recommendations to the Governor and the Legislature regarding policies, programs, and actions to advance statewide economic goals.

This bill would establish the California Foreign Investment Program. The bill would require the Governor’s Office of Business and Economic Development to serve as the lead state entity for overseeing the state’s participation with the U.S. Citizenship and Immigration Services’ EB-5 Investment Program. The bill would require the director of the office to set the terms and conditions for issuing a state designation letter for target employment areas within the structure and scope of the EB-5 Investment Program and to post on the office’s Internet Web site a list with the contact information for each regional center, as specified. The bill would require a regional center operating in the state to provide the office with, among other things, information on the number of clients served, the location of investments, and the number of direct and indirect jobs created. The bill would authorize the office to provide a support letter for regional center applications to the U.S. Citizenship and Immigration Service. The bill would authorize a public corporation, as defined, that is authorized to establish, operate, and maintain a regional center to provide for indemnity or assurance to the federal government, as specified, and to deposit moneys with the federal government, as specified. The bill would apply only to EB-5 activities of the state relating to the EB-5 Investment Program occurring on or after January 1, 2014.

Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.

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

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SECTION 1.  

Chapter 4.2 (commencing with Section 6315) is
2added to Division 7 of Title 1 of the Government Code, to read:

3 

4Chapter  4.2. California Foreign Investment Program
5

 

6

6315.  

(a) This chapter shall be known and may be cited as the
7California Foreign Investment Program.

8(b) For purposes of this chapter:

9(1) “Director” means the Director of the Governor’s Office of
10Business and Economic Development.

11(2) “Office” means the Governor’s Office of Business and
12Economic Development.

13(3) “Public corporation” means the state, any political
14subdivision thereof, any incorporated municipality therein, any
15public agency of the state, of any political subdivision thereof, or
16of any municipality therein, or any corporate municipal
17instrumentality of this state or of this state and one or more other
18states.

19(4) “EB-5 Investment Program” and the “Foreign Investment
20Program” means Section 203(b)(5) of the Immigration and
21Nationality Act (8 U.S.C. Sec. 1153(b)(5)).

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6315.1.  

(a) The office shall serve as the lead state entity for
2overseeing the state’s participation with the United States
3Citizenship and Immigration Service’s EB-5 Investment Program.

4(b) The director shall set the terms and conditions for issuing a
5state designation letter for target employment areas within the
6structure and scope of the EB-5 Investment Program.

7(c) (1) A regional center operating in the state shall provide the
8office with contact information for the center and the geographic
9region and industry sector or subsectors recognized by the United
10States Citizenship and Immigration Services (USCIS) for that
11center.

12(2) A regional center operating within this state shall annually
13provide information to the office on the number of clients served,
14location of investments, and number of direct and indirect jobs
15created. The regional center may satisfy this requirement by
16submitting a copy of Form I-9224A of the (USCIS) to the office.

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17(c) (1) An applicant for a visa from the United States
18Citizenship and Immigration Service under the EB-5 Program may
19register with the office.

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20(2) The office may provide assistance to an applicant, registered
21with the office pursuant to this subdivision, with the applicant’s
22EB-5 visa application.

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23(3) The office may charge a fee for these services.

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24(d) The office may provide a support letter for regional center
25applications to the (USCIS).

26(e) The director shall post on the office’s Internet Web site a
27list with contact information for each regional center where
28information is readily available to the office. The list shall be
29updated when new information is made available on at least an
30annual basis.

31

6315.2.  

(a) Any public or private corporation authorized to
32establish, operate, and maintain a regional center whose application
33is granted pursuant to the terms of the Immigration and Nationality
34Act may establish, operate, and maintain the regional center subject
35to the conditions and restrictions of the EB-5 Investment Program,
36and any amendments thereto, and any conditions and restrictions
37established by the director pursuant to this chapter.

38(b) If authorized to establish, operate, and maintain a regional
39center, a public corporation may, in addition to its other powers,
40do either of the following:

P4    1(1) Provide for indemnity or assurance to the federal government
2or its agencies as they may request.

3(2) Deposit moneys with the federal government, as the federal
4government or its agencies may request, provided those moneys
5are available by direct appropriation or otherwise.

6

6315.3.  

This chapter shall apply only to EB-5 activities of the
7state relating to the EB-5 Investment Program occurring on or after
8January 1, 2014.



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