BILL ANALYSIS                                                                                                                                                                                                    



                                                                       



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                              UNFINISHED BUSINESS


          Bill No:  SB 66
          Author:   Price (D)
          Amended:  9/4/09 
          Vote:     27 - Urgency

           
           PRIOR SENATE VOTE NOT RELEVANT

          ASSEMBLY FLOOR  :  Not available


           SUBJECT  :    California Small Business Expansion Fund

           SOURCE  :     Author


           DIGEST  :     Assembly Amendments  delete the Senate version of  
          the bill that expresses the intent of the Legislature to  
          enact statutory changes relating to the Budget Act of 2009.  
           This bill now makes various technical clean up changes to  
          the General Government trailer bill.

           ANALYSIS  :    

          This bill:

          1. Repeals provisions in the Corporations Code that were  
             approved in the 2009-10 General Government trailer bill  
             that restrict the Small Business Loan Guarantee Program  
             (SBLGP) at the Business, Transportation and Housing  
             Agency from making any future loan guarantees.  
             Additionally, these amendments repeal provisions that  
             revert all funds from the SBLGP that are not needed to  
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             guarantee existing loans to the General Fund. 

          2. Requires that $8.3 million be transferred by the  
             Department of Finance to the General Fund from the Small  
             Business Expansion Fund and/or Trust Fund in fiscal year  
             2009-10.  This reversion is equal to the amount  
             transferred in the 2009-10 Budget Act. 

          3. Makes the bill inoperative and allows the SBLGP to  
             continue providing loan guarantees upon availability of  
             funds once the transfer of $8.3 million to the General  
             Fund is complete. 

           FISCAL EFFECT  :    Appropriation:  No   Fiscal Com.:  No    
          Local:  No

          DLW:mw  9/10/09   Senate Floor Analyses 

                       SUPPORT/OPPOSITION:  NONE RECEIVED

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