On May 8, 2019, Assemblymembers Sabrina Cervantes and Jordan Cunningham, Chair and Vice Chair of the Committee on Jobs, Economic Development, and the Economy, along with committee members Ed Chau, James Ramos, and Christy Smith, submitted a letter to the Assembly Budget Committees requesting $5 million for the California Small Business and Jobs Act. The funds requested will target investments that support California small businesses, including $3.5 million for the Small Business Technical Assistance Program and $1.5 million for the Small Business Finance Center. This week, State Senator Anna Caballero submitted a letter to the Senate Budget Committees requesting $5 million to implement the Small Business Jobs Act. This means we now have requests in both the Senate and the Assembly.
This proposal has the potential to generate tens of thousands more jobs and help underserved groups such as veterans and women, as well as businesses in low-wealth, rural, and disaster-impacted communities. We need you to weigh in and show your support for this budget request by downloading and updating this sample support letter to the State Senate. Please email a PDF version of your letter to JEDE@asm.ca.gov before May 29, 2019.
Other Bills to Take Action
- AB 377 (Assemblymembers Eduardo Garcia and Mayes) – Microenterprise Home Kitchen Operations
AB 377 authorizes counties and/or cities to permit Microenterprise Home Kitchen Operations (MEHKO) and clarifies regulations for permit holders. Last week, this bill unanimously passed the Assembly and is headed to the Senate. You can use CAMEO’s letter of support as a template.
- AB 474 (Assemblymember Reyes) – Capital Access Loan Program for Small Business
This bill transfers the California Capital Access Program (CalCAP) from the California State Treasurer’s Office to California Infrastructure and Economic Development Bank (IBank) at GO-Biz. You can use CAMEO’s letter of support as a template.
- AB 857 (Assemblymembers Chiu and Santiago) – Public Banks
This bill authorizes local agencies to create and operate publicly-owned banks. This bill regulates public banks including a requirement to have a social purpose or a specific public benefit in their articles of incorporation. You can use CAMEO’s letter of support as a template.
- AB 1259 (Assemblymembers Rivas, Cervantes, and Garcia) – California New Markets Tax Credit
This bill creates the California New Markets Tax Credit (CNMTC) program, modeled after the federal New Markets Tax Credit (NMTC) program. The tax credit would be effective for tax years 2021 through 2025 and encourage investment in CDFIs. You can use CAMEO’s letter of support as a template.
- AB 1479 (Assemblymember Cervantes) – Opportunity Zone Credit Enhancement Act
This bill would incorporate a credit enhancement on qualifying Opportunity Zone projects that benefit the communities. You can use CAMEO’s letter of support as a template.
- AB 1790 (Assemblymember Wicks) – Online E-Commerce Marketplaces
This bill will promote equitable market competition in online e-commerce marketplaces. You can use CAMEO’s letter of support as a template.
These bills have the potential to bring in more resources to CAMEO members.
Other Bills CAMEO Supports
- AB 906 (Assemblymembers Cooley, Cervantes, and Kiley) – California Economic Development Strategic Action Plan
This bill requires GO-Biz to create a state action plan for economic development in California.
- AB 1365 (Committee on Veterans Affairs) – DVBE Participation in State Contracting
This bill makes changes to the Disabled Veterans Business Enterprise Program to improve program administration.
- AB 1577 (Assemblymember Burke) – Microenterprise Development: Local Partnerships
This bill encourages cities and counties to access microenterprise development for job creation.
- AB 1806 (Committee on Jobs, Economic Development & the Economy) – Go-Biz Information Technology
Creates the GO-Biz Information Technology Unit. This unit will improve Go-Biz’s online presence and make an online platform for government permit and license assistance.
- SB 128 (Sen. Beall) – Enhanced Infrastructure Financing Districts: Bonds: Issuance
This bill streamlines the Enhanced Infrastructure Financing Districts (EIFD) bond-issuing process.
- SB 455 (Sen. Bradford) – Financial Empowerment Fund: Unbanked and Underbanked Populations
This bill creates a Financial Empowerment Fund that will provide grants to nonprofits that provide programs for the unbanked as well as financial education.
- SB 534 (Sen Bradford) – Ensuring Diversity in California’s Insurance Industry
This bill reenacts and expands the insurer Supplier Diversity Survey to include LGBT and veteran-owned businesses.