BILL ANALYSIS Ó
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|Hearing Date:June 27, 2011 |Bill No:AB |
| |1137 |
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SENATE COMMITTEE ON BUSINESS, PROFESSIONS
AND ECONOMIC DEVELOPMENT
Senator Curren D. Price, Jr., Chair
Bill No: AB 1137Author:V. Manuel Pérez
As Amended:June 22, 2011 Fiscal: Yes
SUBJECT: Economic development.
SUMMARY: Makes a number of changes to state international trade and
trade promotion programs. Codifies in statute California's role in
the federal EB-5 program and creates the California Export Promotion
and Gap Financing Program, specifying performance measures and
reporting requirements for each.
Existing Federal law: Creates the statutory authority for the EB-5
visa program in Section 203(b)(5) of the Immigration and Nationality
Act. (8 U.S.C. Sec. 1153 (b)(5))
Existing law, The Government Code (GC):
1)Specifies that BT&H is the primary state agency authorized to
attract foreign investments, cooperate in international public
infrastructure projects, and support California businesses in
accessing markets, and requires the Secretary of BT&H (Secretary) to
develop an international trade and investment policy.
2)Authorizes a public or private corporation, as specified, to apply
for and, if successful, establish, operate, and maintain a
foreign-trade zone in accordance with certain provisions of federal
law. (GC § 6302 and 6303)
3)Sets forth findings and declarations detailing: (1) The importance
of strengthening collaborative linkages among remaining
California-based international trade and investment promotion
programs operated at federal, state, regional and local levels in
light of the repeal of the statutory authority for the Technology,
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Trade and Commerce Agency (TTCA) in 2003;
(2) Data from 2000 shows that international trade and investment
activity in the state supports one in every seven jobs; (3) Public
Policy Institute of California (PPIC) data as to the productivity of
export businesses; (4) California has elements to form the
foundation for a global market-related economy; (5) California's
multicultural and ethnic populations offer unique opportunities for
international trade and investment; (6) High numbers of California
workers are employed by subsidiaries of foreign companies; and, (7)
California's trade and investment policy is a living document that
should be regularly updated to reflect emerging business trends and
the changing needs of California businesses and workers.
(GC § 13996.4)
4)Requires the Secretary to complete a study on the potential roles of
the state in global markets (Study) and a strategy for international
trade and investment (Strategy).
(GC §§ 13996.5 and 13996.55)
5)Requires the Secretary to convene a statewide business partnership
for international trade and investment (Partnership). (GC §
13996.6)
6)Sets forth criteria by which the Secretary can establish
international trade and investment offices and the Controller can
allocate funds for those offices. (GC §§ 13996.65-13996.75)
7)Specifies that the Governor is the primary state officer
representing California's interest in international affairs; the
Lieutenant Governor is the Chair of the California Commission for
Economic Development to improve trade opportunities for California;
the Attorney General assists the federal government in defending
against international challenges to California law; the Secretary
of State oversees the International Business Relations Program which
assists foreign business entities with the various filing processes;
the Department of Food and Agriculture (Food and Ag) is the primary
agency for the promotion of California agriculture, fish and forest
exports and; BT&H is the agency responsible for international trade
and investment activities other than those covered by Food and Ag .
(GC § 99500)
This bill:
1)Makes technical updates to the Foreign Free Trade Zone Act,
including renaming it the California Foreign Free Trade Zone Act.
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2)Creates the California Foreign Investment Program. Requires BT&H to
serve as the lead state entity for the administration of the federal
EB-5 program. Requires BT&H to set the terms and conditions for
issuing a state designation letter within the structure and scope of
the provisions of the EB-5 program.
3)Clarifies that any public or private corporation may apply to
establish, operate or maintain a regional center. Specifies that
any application for designation as a regional center must be
accompanied by a letter of support from the Secretary. Specifies
that the Secretary cannot sign a designation letter without the
applicant agreeing to meet the reporting and monitoring
requirements. Requires that a list of regional center applicants,
including contact information, in receipt of a designation letter
from the Secretary be posted on the BT&H Website. Clarifies that
these provisions apply to state EB-5 activities on or after January
1, 2012.
4)Requires the Secretary to establish reporting and monitoring
requirements that identify the number of businesses assisted, the
size of those businesses by number of employees and gross revenues
and the number of jobs created and retained.
5)Authorizes the establishment the California Export Promotion and Gap
Financing Program (Export Assistance Program) within BT&H for the
purpose of applying for, receiving and implementing a federally
funded export assistance program. Limits implementation of the
program until federal moneys are received.
6)Requires that the Export Assistance Program to be developed in
consultation with local governments, economic development
organizations, financial institutions, small business organizations,
the federal Small Business Administration (SBA), the federal U.S.
Department of Agriculture Rural Development, as well as financial
and community intermediaries that engaged in, or could be engaged
in, international trade and investment programs.
7)Requires that the Export Assistance Program have clear objectives,
measurements for success, reporting requirements, methods for
ensuring program resources are available statewide, an
identification of how the Program helps to implement the state's
international trade and foreign investment strategy and be
implemented in a collaborative fashion with other related business
assistance programs.
8)Requires that program reporting be done annually on the BT&H Website
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and include, at a minimum, the number of businesses assisted, the
size of businesses assisted by number of employees and gross
revenues, the number of jobs created and retained, an estimate of
the economic impact of the financial assistance and other key
program achievements.
9)Requires consultation with county and city governments on the Export
Assistance Program and Partnership, particularly those that have
foreign trade offices, on a regular and frequent basis in developing
and participating in trade missions or promotional efforts.
10)Provides that if any federal requirements prohibit any of the state
statutory requirements of the Export Assistance Program, BT&H is to
notify the relevant policy and fiscal committees and is then
authorized to waive the state rules to the extent necessary to
fulfill the federal requirements.
11)Authorizes BT&H to adopt regulations to implement the Export
Assistance Program and clarifies that these provisions apply to
state activities on or after January 1, 2012.
12)States findings and declarations about the Partnership, specifying
that the quality and effectiveness of the state's international
trade and foreign investment programs and activities are highly
dependent on establishing and maintaining an open dialogue with a
broad range of trade-related stakeholders including, but not limited
to, businesses, trade and business assistance programs, worker
organizations, education and workforce training entities, and local
governments.
13) Specifies that as part of the consultation process on the
Partnership, BT&H may establish an advisory board with
representatives from counties, cities and special districts to
advise on the content of the Study and Strategy. Specifies that the
advisory board will discuss collaboration between state and local
entities on targeting nations or industries for export, foreign
direct investment (FDI) and integration of the EB-5 program.
FISCAL EFFECT: According to the Assembly Committee on Appropriations
analysis dated May 18, 2011, BT&H estimates that it would cost
$600,000 to administer the program envisioned in this bill.
COMMENTS:
1. Purpose. This bill is jointly sponsored by the Office of Foreign
Trade, Economic Development Agency for the County of Riverside and
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the Assembly Committee on Jobs, Economic Development and the
Economy . According to the Author, this bill "facilitates local
economic development and job creation by assisting small business
to access new export markets for their goods and services, updating
the law relating to free trade zones, and authorizing the use of
new federal funds under the Small Business Jobs Act of 2010." As
the Small Business Jobs Act authorized the implementation of a $90
million international trade promotion program, states will be
applying for these moneys over the next few years. The Author
believes that this bill sets the framework for these applications.
The Author also notes that existing law doesn't reflect the state's
participation in the federal EB-5 visa program and this bill will
codify the state's role.
2. Background.
a) Demise of the Technology, Trade and Commerce Agency (TTCA).
California's formal trade and trade promotion activities within
state government are currently quite limited. With the
elimination of TTCA in 2003, numerous trade related programs and
services were eliminated, while the remaining few came under the
umbrella of BT&H. The former International Investment Division
under TTCA had 91 employees and a budget of $43 million, allowing
it to engage in activities like formal marketing. There is now
only a very small number of former International Investment
Division staff working on trade related issues and activities for
the state.
Beginning in the 2005-06 session, several legislative measures
were introduced to reinstate the state's trade authority. SB
1513 (Romero, Chapter 663, Statutes of 2006) addressed these
concerns by requiring BT&H to undertake a trade study to
determine what role the state should play in international trade
and foreign investment activities and required them to establish
a business advisory committee, and development of a trade
strategy consistent with the study and acts as the vehicle for
implementing the state's trade policy. The first strategy was
published in February 2008, and the next update is required in
February 2013. The strategy includes policy goals, objectives
and recommendations necessary to implement an international trade
and investment program, measurable outcomes and timelines,
impediments for achieving goals and objectives, identification of
key stakeholder partnerships, funding options, and an
organizational structure for administration of policies, programs
and services.
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The overarching policy of the strategy is to increase jobs by
promoting the export of California products and services, while
also promoting foreign direct investment. Five primary
objectives are: (1) Leverage existing services to provide export
assistance to companies in prioritized industry clusters; (2)
Develop a foreign direct investment program; (3) Promote and
leverage the California brand; (4) Monitor and engage the federal
government in regards to U.S. trade policy; and (5) Integrate
international trade and investment into the state's overall
economic development strategy.
b) Current State Programs. According to information provided by
the Author, in support of local and private sector trade and
investment activities, the state has several ongoing programs,
including the Foreign Trade Zones (FTZ) and the Centers for
International Trade Development (CITD).
FTZs are areas within the state where goods may be imported
without adhering to all U.S. Customs rules or tariffs. The
program is designed to promote foreign trade and global supply
chains while retaining domestic employment that might otherwise
go to foreign countries. Merchandise admitted into a zone may,
among other things, be stored, exhibited, repacked, assembled,
graded, cleaned, processed, tested, labeled, and mixed with
foreign merchandise. There are two types of FTZs - General
Purpose and Subzone Purpose Zones. Subzones, sponsored by a
General Purpose Zone, are generally located within an industrial
park or port complex whose facilities are also used by the
general public. These zones are established by the federal
government with companion state statute authorization.
California has 17 general purpose FTZs out of 234 zones in the
U.S. including zones located in Eureka, Imperial, Long Beach, Los
Angeles, March JPA, Merced, Oakland, Palmdale, Palm Springs,
Sacramento, San Diego, San Francisco, Port Hueneme, San Jose,
Santa Maria, Southern California Logistics Airport, and Stockton.
The Centers for International Trade Development were established
15 years ago to enhance the global competitiveness of California
companies and to support international trade development in local
communities. The California Community College System administers
the state's CITDs. Currently, there are 14 CITD offices
throughout California and partnership agreements with almost 200
organizations throughout the state. .
The centers, located in a majority of the urban areas of the
state, offer technical assistance and consultation to firms doing
business, or trying to do business globally. The northern most
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areas of the state are serviced through offices in Community
Colleges located in Sacramento and San Bruno, and the most
southern center is located in Chula Vista.
Services provided through the CITDs include, but are not limited
to, free or low cost import and export education programs,
one-on-one counseling, access to international trade shows,
opportunities to join trade missions, a "Help Desk" for advising
on international business transaction challenges, and access to a
trade information database ( www.citd.org/trade_info/index.cfm ) on
their Website. The CITDs serve over 2,500 businesses and
entrepreneurs in California each year. According to the CITD
Website, companies that worked with CITDs reported trade
transactions of over $230 million last year
c) EB-5 Program. The EB-5 visa category, which was created by
Congress in 1990, is available to immigrants seeking to enter the
United States in order to invest in a business or company that
will benefit the economy. This federal program is administered
by the US Citizenship and Immigration Service (USCIS). The name
"EB-5" is derived from the fact that it is the 5th category of an
Employment-Based visa. Permanent-resident status through an EB-5
visa is available to foreign investors who have invested - or are
actively in the process of investing - at least $1million into a
new commercial enterprise, which can entail: (1) the creation of
an original business; (2) the purchase of an existing business
and restructuring or reorganizing the business to the extent that
a new commercial enterprise results; or, (3) a significant
expansion of an existing business.
10,000 EB-5 visas are made available per year by USCIS. Close to
4,300 investors attained EB-5 status in 2009, up from only
hundreds in 2007.
An applicant seeking status as an immigrant investor must
demonstrate that his or her investment will benefit the U.S.
economy and create full-time employment for at least ten
qualified individuals, or maintain the number of existing
employees in a troubled business. If the investment in a new
commercial enterprise is made in a targeted employment area
(TEA), the required investment is decreased to $500,000. A TEA
is either a high-unemployment area that has experienced an
unemployment rate of at least 150% of the national average rate,
or a rural area.
In addition to individual investors, the federal government can
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also recognize regional centers which allow for a pooling of
investor money. There are at least 31 federally-recognized
regional centers currently operating in California, significantly
more than any other state. These regional centers are based
across the state. Their focuses vary widely, and include
commercial real estate development, agricultural products, film
project, and high-tech ventures.
Applicants to the EB-5 visa program must demonstrate that they
meet all requirements of the program prior to the filing with the
USCIS. If it is determined that the investment criteria is met
and properly documented, any investor may be granted conditional
permanent residence status for a period of two years by USCIS. A
permanent green card may be issued at the end of the conditional
period.
Currently, the Governor's Office of Economic Development (GOED)
serves as a resource to connect those interested in receiving
foreign investment through EB-5 with the necessary state entities
responsible for the identification and designation of targeted
employment areas (TEA). According to GOED, in accordance with
Title 8, Code of Federal Regulations Section 204.6(i), the
California Employment Development Department (EDD) has been
delegated the authority by the state to designate the cities,
counties, metropolitan statistical areas, and geopolitical
subdivisions (census tracts) that meet the high unemployment
definition to qualify for the $500,000 minimum investment
threshold as TEAs for EB-5 program purposes.
Unemployment rates for cities, counties and census tracts are
published annually and the state uses the most recent calendar
year labor force and unemployment estimates to establish high
unemployment rates and high unemployment areas.
Upon the request of the applicant or an alternative
representative body, staff at BT&H may determine that a specific
metropolitan statistical area, a county within a metropolitan
statistical area, or a county in which a city or town with a
population of 20,000 or more is located, is a TEA. In order to
make such a determination, the county, city or census tract in
question must experience an average unemployment rate of 150
percent of the national average.
There are many examples of areas and developments that have
benefitted from foreign investment through EB-5, most especially
as businesses routinely cite access to capital as a roadblock to
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successful development of new or growth of existing ventures.
According to a recent article in the Sacramento Bee, there are
now close to15,000 people who work at McClellan Business Park, a
residential and industrial development at the former McClellan
Air Force Base which closed in 2001, resulting in the loss of
some 12,000 jobs in the region. The transformation was completed
with the help of $18 million invested by
36 immigrants from China, Mexico and an array of other countries
who have applied for EB5 visas.
Nationally, the state of Vermont is home to one of the largest
success stories from EB-5 investment. The New York Times and
National Public Radio (NPR) both reported extensively on a ski
resort that was able to expand from seasonal winter recreation to
being a year-round resort after raising nearly $200 million
dollars from foreign investors (South Africa, Sweden, Canada,
Mexico and England). The entire state of Vermont is now
recognized as a regional center called the Vermont Agency of
Community Development which focuses on bringing foreign
investment to the tourism, manufacturing, professional services,
education and information publishing industries in the state.
The state formally markets and promotes the availability of EB-5
status to gain foreign investment and is a model for state
involvement in securing this type of money. On its Website,
Vermont publicizes a swift approval process for projects, state
oversight of projects and activities to assure compliance with
U.S. Immigration Law, and hands-on involvement by Vermont elected
officials, including the Governor and Congressional delegation.
3. The California Landscape. According to information provided by the
Author, international trade is a very important component of
California's $1.9 trillion economy. If California were a country,
it would be the 11th largest exporter in the world. Exports from
California accounted for over 11% of total U.S. exports in goods,
shipping to over 226 foreign destinations in 2010.
California's land, sea, and air ports of entry serve as key
international commercial gateways for products entering the
country. California exported $143 billion in goods in 2010,
ranking only second to Texas with $163 billion in export goods.
Computers and electronic products were California's top exports in
2010, accounting for 31.1% of all state exports, or $43 billion.
Manufacturing is California's most export-intensive activity.
Overall, manufacturing exports represent 9.4% of California's gross
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domestic product. More than one-fifth (21.9%) of all manufacturing
workers in California directly depend on exports for their jobs.
Small- and medium-sized firms generated more than two-fifths (43%)
of California's total exports of merchandise. This represents the
seventh highest percentage among states and is well above the 29%
national average export share for these firms.
Mexico is California's top trading partner, receiving $21 billion
in goods in 2010 followed by Canada and China.
4. New Federal Funding for Trade Promotion Efforts. On Sept. 27,
2010, President Obama signed into law the Small Business Jobs Act,
which aims to promote and foster small business growth. According
to the Small Business Administration (SBA) the new law increases
lending in an array of aspects and grants equal and easier access
to federal contracting programs. The law also provides further
pathways to drive small business exports. Specifically, the law has
several ways in which to achieve an increase in exports, including
increasing deductions for trade expenditures from $5,000 to $10,000
and establishing the Export Promotion Act which allows small
business to gain access to additional resources by increasing the
US Department of Commerce's authority to provide grant funding to
industry associations and non-profit institutions. According to
estimates, the Export Promotion Act has the potential to create
40,000 jobs and $56.6 million in exports can be expected for every
$1 million dollars in secured funding.
The Small Business Jobs Act also enhances small business trade
opportunities by increasing the importance of international trade
within the SBA as well as the creation of the State Promotion Grant
Program (STEP). The STEP pilot grant initiative is authorized to
provide up to $90 million in competitive grants to states over the
next three years, $30 million per year beginning in the current
federal fiscal year 2011, with the aim of achieving two goals:
(1) increase the number of small businesses that want to export
and, ( 2) increase the value of exports for those small businesses
that currently export.
Activities that can be supported with grant dollars under this
initiative may include: participation in foreign trade missions,
foreign market sales trips, subscription services provided by the
US Department of Commerce, design of international marketing
products or campaigns, export trade show exhibits, training
workshops or other export initiatives that are in line with the
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goals of the pilot grant initiative.
A state may not submit more than one application for a grant under
the initiative, but may apply each federal fiscal year through the
3-year term of the pilot grant initiative. BT&H chose not to apply
for the funding and in April, the Governor designated the
Chancellor's Office of the California Community Colleges as the
sole state entity to apply for the first round of STEP funding on
behalf of the state. It is anticipated that a successful
California application would result in $3 million for local and
state collaborative trade promotion efforts.
5. President Obama's National Export Initiative (NEI). On March 11,
2010, President Obama signed Executive Order 13534, the National
Export Initiative (NEI). The goal of the initiative is to address
the "economic and financial crisis that has led to the loss of
millions of U.S. jobs" by "ensuring businesses can actively
participate in international markets by increasing their exports of
goods, services, and agricultural products" and improving
"conditions that directly affect the private sector's ability to
export."
NEI aims to create jobs and improve the economy through its five
objectives: (1) improving advocacy efforts on behalf of U.S.
exporters; (2) increased access to export financing;
(3) reinforced efforts to remove barriers to trade; (4) enforcement
of trade rules; and
(5) international promotion of policies leading to strong,
sustainable and balanced economic growth.
Additionally, it established an Export Promotion Cabinet (Cabinet)
to develop and coordinate the implementation of NEI which meets
periodically and reports to the President on the progress of NEI.
The Cabinet coordinates with the Trade Promotion Coordinating
Committee, established by Executive Order 12870.
Policies stemming from the NEI, coupled with the global economic
rebound, led to an almost 17 percent growth in exports in the first
four months of 2010 from the same period in 2009, putting the U.S.
on track to reach the President's goal of doubling exports and
supporting several million new jobs over five years. As a result
of the NEI, the US Department of Commerce coordinated 18 trade
missions with over 160 companies participating in
24 countries.
9.Related Legislation. SB 460 (Price) of 2011 requires the Secretary
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of BT&H to convene a statewide business partnership for
international trade marketing and promotion that includes, but is
not limited to, representatives of public airports, land ports of
entry, seaports, ocean carriers, marine terminal operators, air
carriers, warehouse operators, railroads, trucking companies,
foreign trade zones, and shippers, specifically including
agricultural exporters, manufacturers, post-consumer secondary
material handlers, and retailers. The bill also requires the
partnership to advise the Secretary on what role the state should
play in international trade marketing and promotion, as specified.
The bill is pending before the Assembly Committee on Jobs, Economic
Development and the Economy.
SCR 33 (Price) of 2011, expresses the sentiment of the Legislature
that the federal EB-5 visa program is beneficial to California's
economic development and provides important opportunities for
foreign direct investment to California. The bill is pending
assignment in the Assembly.
AB 29 (John A. Perez) of 2011, the Economic Revitalization Act,
establishes GOED in statute, under the control of a Director,
appointed by the Governor subject to confirmation by the Senate
Committee on Rules, to serve as the lead entity for economic
strategy and the marketing of California on issues relating to
business development, private sector investment, and economic
growth. The measure is pending before the Senate Committee on
Governmental Organization.
AB 1409 (Assembly Committee on Jobs, Economic Development and the
Economy) of 2011, requires that the next update of the international
trade and investment strategy by the Business, Transportation and
Housing Agency (BT&H) include policy goals, objectives and
recommendations from the state Goods Movement Action Plan (GMAP), as
well as related measurable outcomes and timelines. The bill is also
scheduled to be heard in this Committee today.
AB 1410 (Assembly Committee on Jobs, Economic Development and the
Economy) of 2011, reorganizes the statutory placement of the
California-Mexico Affairs Office and the California-Mexico Border
Relations Council from a general title within state government to a
more specific title on foreign relations within the Government Code,
but does not make any changes to the content of sections. The bill
passed this committee on June 13 with an 8-0 vote and is pending on
the Senate Floor.
SB 1175 (Price) of 2010, would have required the Secretary of BT&H
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to direct the California Travel and Tourism Commission (Commission)
to conduct a review of its principal mission and core competencies
in order to determine if the Commission should include trade
promotion in its strategic marketing plan or other future plans of
the commission and provide a report to the Legislature. The bill
was held in the Senate Committee on Rules.
AB 2443 (Perez) of 2010, would have required the state point of
contact for trade agreements to provide specified Legislative
committees with copies of any official position taken or comments,
that any entity within the executive branch of state government
provided to the U.S. Trade Representative relating to a pending
trade agreement. The bill also created a new process for the
establishment of Sister State relationships with a purpose of
promoting economic growth and trade and investment opportunities.
The measure was vetoed by the Governor. In his veto message, the
Governor wrote that the "bill would not only cause confusion but
also undermine the strength of California's position by allowing the
Legislature to insert itself into international trade agreement
discussions and negotiations."
AB 2734 (John A. Perez) of 2010, would also have established GOED in
statute but was vetoed by the Governor. In his veto message,
Governor Schwarzenegger indicated that requiring confirmation of the
GOED Director by the Senate Committee on Rules served as rationale
for the veto.
AB 1558 (Assembly Committee on Jobs, Economic Development and the
Economy) of 2009, recodified and reorganized sections of the
Government Code to create one comprehensive code for the state's
international trade activities and programs. The measure was
amended to deal with reorganization of the state's economic
development programs. The bill was held in the Senate Committee on
Appropriations in 2010.
AB 1276 (Skinner) of 2009, would have prohibited a state official,
including the Governor, from binding the state, or giving consent to
the federal government to bind the state, to provisions of a
proposed International Trade Agreement, including the government
procurement rules, unless a statute is enacted that explicitly
authorizes a state official to bind the state or to give consent to
bind the state to that trade agreement. The measure was vetoed by
the Governor. In his veto message, the Governor wrote that the bill
"places unnecessary hurdles on international trade and unnecessarily
complicates processes. Additionally, the bill would defy current
agreements with the World Trade Organization and existing trade
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agreements."
AJR 27 (Torrico, Chapter 145, Statutes of 2010) memorializes
Congress that the California Legislature opposes the United
States-Colombia Trade Promotion Agreement.
AB 89 (Garcia) of 2008, would have required BT&H to prepare a study
by January 1, 2010, regarding infrastructure development along the
California/Mexico border, including an assessment of whether
alternative financing mechanisms may be necessary to meet the
development needs of the bi-national region. The bill was vetoed by
the Governor. In his veto message, the Governor stated that its
provisions are already addressed through international, federal, and
state planning and coordinating channels and that the bill was
therefore unnecessary.
AB 1719 (Assembly Committee on Jobs, Economic Development and the
Economy) of 2008, would have made technical and non-substantive
changes to codes relating to the state's international trade
activities but was later amended to deal with an entirely different
subject matter. The bill was held in the Assembly Committee on
Rules.
AB 1722 (Assembly Committee on Jobs, Economic Development and the
Economy) of 2008, would have required BT&H to provide the
Legislature with a copy of the international trade and investment
policy, which is a result of its work on the required international
trade study and strategy. The bill was vetoed by the Governor. In
his veto message, the Governor stated that he was unable to sign the
bill citing state budget time constraints and a belief that the bill
did not meet a high enough priority to be signed.
AJR 55 (Villines) of 2008, memorialized Congress that the California
Legislature supports the United States-Colombia Trade Promotion
Agreement. This measure failed passage in the Assembly Committee on
Jobs, Economic Development, and the Economy.
AJR 14 (Jeffries, Chapter 73, Statutes of 2007) memorializes the
President and Congress to enact legislation to ensure that a
substantial increment of new revenues derived from customs duties
and importation fees be dedicated to mitigating the economic,
mobility, security, and environmental impacts of trade in California
and other trade-affected states across the U.S.
SB 1513 (Romero, Chapter 663, Statutes of 2006) provides new
authority for BT&H to undertake international trade and investment
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activities, and as a condition of that new authority, directs the
development of a comprehensive international trade and investment
policy for California.
10.Arguments in Support. Supporters like the Office of Foreign Trade,
Economic Development Agency for the County of Riverside and
California Small Business Development Centers note that given the
current harsh economic conditions, high unemployment and high
numbers of bankruptcies in the state, this bill will assist in
important economic development and job creation.
SUPPORT AND OPPOSITION:
Support:
Office of Foreign Trade, Economic Development Agency for the County of
Riverside (Joint - Sponsor)
California Small Business Development Centers
California Small Business Development Centers, U.C. Merced Regional
Network
CDC Small Business Finance
Inland Empire Economic Partnership
Yuba Sutter Economic Development Corporation
Opposition: None received as of June 22, 2011.
Consultant:Sarah Mason