BILL ANALYSIS                                                                                                                                                                                                    Ó



                                                                    AB 1533


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          Date of Hearing:  May 27, 2015


                        ASSEMBLY COMMITTEE ON APPROPRIATIONS


                                 Jimmy Gomez, Chair


          AB  
          1533 (Committee on Jobs, Economic Development, and the Economy)  
          - As Amended May 15, 2015


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          Urgency:  No  State Mandated Local Program:  NoReimbursable:  No


          SUMMARY:  


          This bill revises the definition of "economic development  
          facilities" to include facilities that are used to provide goods  
          movement and "port facilities" to specifically reference  








                                                                    AB 1533


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          airports, landports, waterports, and railports, for purposes of  
          the California Infrastructure and Economic Development Bank  
          (I-Bank) Act.  This bill also transfers authority over the  
          federal Economic Development Adjustment Assistance (EDAA) Grant  
          and the Sudden and Severe Economic Dislocation Grant from the  
          Governor's Office of Business and Economic Development (GO-Biz)  
          to the I-Bank.


          FISCAL EFFECT:


          Administrative costs to the I-Bank, not likely to exceed  
          $150,000, to administer grant funds as specified.  


          COMMENTS:


          Purpose. Over a decade ago, California received $2 million from  
          the federal Economic Development Agency through the EDAA Grant,  
          which funds economically-distressed communities, and the Sudden  
          and Severe Economic Dislocation Grant Program, which provides  
          capital to businesses in economically-distressed areas. 

          The EDAA was administered by the Business, Transportation and  
          Housing (BTH) agency through 2013. When the BTH was eliminated  
          in 2013, pursuant to the Governor's reorganization plan, the  
          California Small Business Expansion Fund (including the EDAA  
          grant) and the program authority to oversee the EDAA grant, were  
          transferred to GO-Biz.   Other 2013 legislation, chaptered after  
          the reorganization bill, transferred the California Small  
          Business Expansion Fund to the I-Bank.


          According to the author, this bill proposes a more streamlined  
          organization structure for the federal funds by authorizing the  
          I-Bank to oversee both the money and program implementation  
          responsibility.








                                                                    AB 1533


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          This bill also reorganizes the placement of certain definitions,  
          clarifies some definitions, and updates cross references within  
          the I-Bank's definition code sections.


          Analysis Prepared by:Misty Feusahrens / APPR. / (916) 319-2081