AB 1271, as introduced, Bonta. Economic development.
Existing law establishes various programs, including, but not limited to, the Capital Access Loan Program, to promote economic development throughout the state.
This bill would declare the intent of the Legislature to enact legislation that would help create jobs in California by (1) establishing incentives, such as student loan forgiveness, to encourage recent graduates of undergraduate and graduate institutions to create jobs in communities with long-term unemployment rates significantly higher than the state’s average and (2) providing access to low-interest loans to small businesses that can demonstrate that they will create jobs with the additional capital.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
It is the intent of the Legislature to enact
2legislation that would help create jobs in California by (a)
3establishing incentives, such as student loan forgiveness, to
4encourage recent graduates of undergraduate and graduate
5institutions to create jobs in communities with long-term
P2 1unemployment rates significantly higher than the state’s average
2and (b) providing access to low-interest loans to small businesses
3that can demonstrate that they will create jobs with the additional
4capital.
O
99