BILL NUMBER: AB 1271	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Bonta

                        FEBRUARY 22, 2013

   An act relating to economic development.


	LEGISLATIVE COUNSEL'S DIGEST


   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:

  SECTION 1.  It is the intent of the Legislature to enact
legislation that would help create jobs in California by (a)
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 (b) providing
access to low-interest loans to small businesses that can demonstrate
that they will create jobs with the additional capital.