Amended in Senate June 19, 2013

Amended in Assembly April 18, 2013

Amended in Assembly April 16, 2013

California Legislature—2013–14 Regular Session

Assembly Bill No. 1067

Introduced by Assembly Member Medina

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

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(Coauthor: Senator Lieu)

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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 begin delete U.S. end delete begin insert United States end insert 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 begin delete target end delete begin insert targeted end insert 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. begin insert The bill would require the office, if it issues a state designation letter, to transmit a copy of the letter to every Member of the Legislature whose district is located in the targeted employment area. end insert 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 begin delete U.S. end delete begin insert United States end insert Citizenship and Immigration begin delete Service end delete begin insert Services end insert . 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:

SECTION 1.  

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

 

Chapter  4.2. California Foreign Investment Program

 

6315.  

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

(b) For purposes of this chapter:

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

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

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

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

6315.1.  

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

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

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(c) If the office issues a state designation letter, the office shall
transmit a copy of the state designation letter to every Member of
the Legislature whose district is located in the targeted employment
area.

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(c)

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begin insert (d) end insert  (1) A regional center operating in the state shall provide
the office with contact information for the center and the
geographic region and industry sector or subsectors recognized by
the United States Citizenship and Immigration Services (USCIS)
for that center.

(2) A regional center operating within this state shall annually
provide information to the office on the number of clients served,
location of investments, and number of direct and indirect jobs
created. The regional center may satisfy this requirement by
submitting a copy of Form begin delete I-9224A end delete begin insert I-924A end insert of the begin delete (USCIS) end delete begin insert USCIS end insert
to the office.

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(d)

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begin insert (e) end insert  The office may provide a support letter for regional center
applications to the begin delete (USCIS) end delete begin insert USCIS end insert .

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(e)

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begin insert (f) end insert  The director shall post on the office’s Internet Web site a list
with contact information for each regional center where information
is readily available to the office. The list shall be updated when
new information is made available on at least an annual basis.

6315.2.  

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

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

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

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

6315.3.  

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

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CORRECTIONS:

Heading--Coauthors--Line 2.

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