BILL NUMBER: AB 1067 AMENDED
BILL TEXT
AMENDED IN ASSEMBLY APRIL 16, 2013
INTRODUCED BY Assembly Member Medina
( Coauthors: Assembly Members
Brown, Fox, and V. Manual Pérez
)
FEBRUARY 22, 2013
An act to add Chapter 4.2 (commencing with Section 6315) to
Division 7 of Title 1 of the Government Code, relating to economic
development.
LEGISLATIVE COUNSEL'S DIGEST
AB 1067, as amended, Medina. Economic development: foreign trade.
The Governor's Office of Business and Economic Development serves
as the Governor's lead entity for economic strategy and the marketing
of California on issues relating to business development, private
sector investment, and economic growth. The office, among others,
makes recommendations to the Governor and the Legislature regarding
policies, programs, and actions to advance statewide economic goals.
This bill would establish the California Foreign Investment
Program. The bill would require the Governor's Office of Business and
Economic Development to serve as the lead state entity
under specified provisions of the federal Immigration and Nationality
Act for overseeing the state's
participation with the U.S. Citizenship and Immigration Services
' EB-5 Investment Program . The bill would
authorize the office take all necessary action to assist individuals
seeking to invest in this state through the EB-5 Program including,
but not limited to, providing a support letter for regional center
applications to the United States Citizenship and Immigration
Service. The bill would require the Director
director of the office to , among other
things, establish reporting and monitoring requirements, as
specified set the terms and conditions for issuing a
state designation letter for target employment areas within the
structure and scope of the EB-5 Investment Program and to post on the
office's Internet Web site a list with the contact information for
each regional center, as specified . The bill would
authorize specified public or private corporation to establish,
operate, and maintain a regional center, as specified.
The bill would require a regional center operating in the state to
provide the office with, among other things, information on the
number of clients served, the location of investments, and the number
of direct and indirect jobs created. The bill would authorize the
office to provide a support letter for regional center applications
to the U.S. Citizenship and Immigration Service. The bill would
authorize a public corporation, as defined, that is authorized to
establish, operate, and maintain a regional center to provide for
indemnity or assurance to the federal government, as specified,
and to deposit moneys with the federal government, as
specified. The bill would apply only to EB-5 activities of the state
relating to the EB-5 Investment Program occurring on or after January
1, 2014.
Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Chapter 4.2 (commencing with Section 6315) is added to
Division 7 of Title 1 of the Government Code, to read:
CHAPTER 4.2. CALIFORNIA FOREIGN INVESTMENT PROGRAM
6315. (a) This chapter shall be known and may be cited as the
California Foreign Investment Program.
(b) For purposes of this chapter:
(1) "Director" means the Director of the Governor's Office of
Business and Economic Development.
(2) "Office" means the Governor's Office of Business and Economic
Development.
(3) "Public corporation" means the state, any political
subdivision thereof, any incorporated municipality therein, any
public agency of the state, of any political subdivision thereof, or
of any municipality therein, or any corporate municipal
instrumentality of this state or of this state and one or more other
states.
(4) "EB-5 Investment Program" and the "Foreign
Investment Program" means Section 203(b)(5) of the Immigration and
Nationality Act (8 U.S.C. Sec. 1153(b)(5)).
6315.1. (a) The office shall serve as the lead state entity for
overseeing the state's participation with the United States
Citizenship and Immigration Service's EB-5 Investment
Program. The
(b) The director shall set the
terms and conditions for issuing a state designation letter for
target employment areas within the structure and
scope of the EB-5 Investment Program.
(b)
(c) (1) An applicant for federal designation
as a A regional center operating in the
state shall register with the office and
provide the office with appropriate contact
information and other information determined by the office
as relevant to the operation of the EB-5 Program in this state
for the center and the geographic region and industry
sector or subsectors recognized by the United States Citizenship and
Immigration Services (USCIS) for that center .
(2) A regional center operating within this state shall annually
provide information to the office on the number of clients served,
location of investments, and number of direct and indirect jobs
created. The regional center may satisfy this requirement by
submi tting a copy of Form I-9224A of the (USCIS) to the
office.
(c) (1) An applicant for a visa from the United States Citizenship
and Immigration Service under the EB-5 Program may register with the
office.
(2) The office may provide assistance to an applicant, registered
with the office pursuant to this subdivision, with the applicant's
EB-5 visa application.
(3) The office may charge a fee for these services.
(d) (1) The office may
provide a support letter for regional center applications to the
United States Citizenship and Immigration Service
(USCIS) .
(2) The director shall, consistent with federal and state
requirements, at a minimum 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.
(3)
(e) The director shall post on the office's Internet
Web site a list with contact information for each regional center
applicant that receives a designation letter from the
director where information is readily available to the
office. The list shall be updated when new information is made
available on at least an annual basis .
6315.2. (a) Any public or private corporation authorized
by this chapter to apply to establish, operate, and
maintain a regional center whose application is granted pursuant to
the terms of the Immigration and Nationality Act may establish,
operate, and maintain the regional center subject to the conditions
and restrictions of the EB-5 Investment Program, and any
amendments thereto, and any conditions and restrictions established
by the director pursuant to this chapter.
(b) If authorized to establish, operate, and maintain a regional
center, a public corporation may, in addition to its other powers, do
either of the following:
(1) Provide for indemnity or assurance to the federal government
or its agencies as they may request.
(2) Deposit moneys with the federal government, as the federal
government or its agencies may request, provided those moneys are
available by direct appropriation or otherwise.
6315.3. The office may take all necessary action to assist
individuals seeking to invest in this state through the EB-5 Program,
including, but not limited to, collaborating with the United States
Department of Justice in assisting applicants in obtaining the
necessary security background checks for the program.
6315.4. 6315.3. This chapter shall
apply only to EB-5 activities of the state relating to the EB-5
Investment Program occurring on or after January 1, 2014.