BILL NUMBER: AB 1067	AMENDED
	BILL TEXT

	AMENDED IN SENATE  AUGUST 20, 2013
	AMENDED IN SENATE  JUNE 19, 2013
	AMENDED IN ASSEMBLY  APRIL 18, 2013
	AMENDED IN ASSEMBLY  APRIL 16, 2013

INTRODUCED BY   Assembly Member Medina
   (Coauthors: Assembly Members Brown, Fox,  and V. Manual
Pérez   and V. Manuel Pérez  )
   (Coauthor: Senator Lieu)

                        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 for
overseeing the state's participation with the United States
Citizenship and Immigration Services' EB-5 Investment Program. The
bill would require the director of the office to set the terms and
conditions for issuing a state designation letter for targeted
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 require the office, if it issues a
state designation letter, to transmit a copy of the letter to every
Member of the Legislature whose district is located in the targeted
employment area.  The bill would require a regional center
 operating   with one or more offices  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 United States Citizenship and Immigration
Services.  The bill would authorize  a 
 specified  public  corporation, as defined, that is
authorized   and private corporations  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.     subject   to specified
conditions and restrictions.  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 Services' EB-5 Investment Program.
   (b) The director shall set the terms and conditions for issuing a
state designation letter for targeted employment areas within the
structure and scope of the EB-5 Investment Program. 
   (c) If the office issues a state designation letter, the office
shall transmit a copy of the state designation letter to every Member
of the Legislature whose district is located in the targeted
employment area.  
   (d) 
    (c)  (1) A regional center  operating 
 with one or more offices  in the state shall provide the
office with contact information for the center and the geographic
region  , if applicable,  and industry sector or subsectors
recognized by the United States Citizenship and Immigration Services
(USCIS) for that center.
   (2) A regional center  operating   with one
or more offices  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 submitting a copy of
Form I-924A of the USCIS to the office. 
   (e) The office may provide a support letter for regional center
applications to the USCIS.  
   (f) 
    (d)     (1)  The director shall post
on the office's Internet Web site a list with contact information for
each regional center 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.  The director may also
include other relevant information obtained by the office pursuant to
subdivision (c).  
   (2) The office shall annually report on the number of state
designation letters issued pursuant to subdivision (b) and on the
information provided to the office pursuant to subdivision (c) in
either the office's annual report under Section 13996.65 or in a
separate report to the Legislature submitted pursuant to Section
9795. The information on regional centers and designation letters
shall, to the extent practicable, be provided in the aggregate, by
county, and by legislative district. 
   6315.2.   (a)    Any public or
private corporation authorized 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.  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.