BILL NUMBER: AB 1067 CHAPTERED
BILL TEXT
CHAPTER 535
FILED WITH SECRETARY OF STATE OCTOBER 4, 2013
APPROVED BY GOVERNOR OCTOBER 4, 2013
PASSED THE SENATE SEPTEMBER 3, 2013
PASSED THE ASSEMBLY SEPTEMBER 6, 2013
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. 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, 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 a regional center 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 specified public and private corporations to
establish, operate, and maintain a regional center 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.
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) (1) A regional center 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 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.
(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. 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.
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.