BILL ANALYSIS Ó
AB 1537
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Date of Hearing: May 13, 2015
ASSEMBLY COMMITTEE ON APPROPRIATIONS
Jimmy Gomez, Chair
AB
1537 (Jobs, Economic Development, and the Economy) - As
Introduced March 25, 2015
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|Policy |Jobs, Economic Development, |Vote:|8 - 0 |
|Committee: |and the Economy | | |
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Urgency: No State Mandated Local Program: NoReimbursable: No
SUMMARY:
This bill adds a reporting requirement for corporations
receiving assistance under the Small Business Financial
Assistance Act and requires reporting annually by city and
AB 1537
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county on number and dollar value of all credit enhancements and
debt instruments issued by the small business financial
development corporations (FDCs) and the Infrastructure and
Economic Development Bank (I-Bank).
FISCAL EFFECT:
Absorbable costs to the Governor's Office of Business and
Economic Development (GO-Biz) up to $100,000.
COMMENTS:
Purpose. According to the author, some FDCs serve small
businesses across the state or within larger and sometimes
overlapping geographic areas in the state. This change in
program delivery necessitates a change in reporting. This bill
expands reporting requirements for all program offered through
the Small Business Finance Center, including the Small Business
Loan Guarantee Program, to include the city and county where the
business is located.
Analysis Prepared by:Misty Feusahrens / APPR. / (916)
319-2081
AB 1537
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