September 14, 2007
For more information, contact Steve Keil at 916/327-7500, ext. 521, or firstname.lastname@example.org.
AB 1721 (Arambula, et al.) – To The Governor
AB 1721, by the Assembly Committee on Jobs, Economic Development and the Economy, of which Assembly Member Juan Arambula chairs, defines, for the fist time, the terms "economic development," "economic development corporation," "local economic development organization," and "regional economic development organization.” The bill also specifies that the Business, Transportation and Housing Agency shall be the primary state agency responsible for facilitating economic development in the state. AB 1721 also creates the California Economic Development Fund in the State Treasury for the purpose of receiving specified funds, and would authorize the Secretary of Business, Transportation and Housing to expend moneys in the fund, upon appropriation by the Legislature, for specified purposes related to economic development in the state.
AB 1721 was last amended on July 18 and sent to the Governor’s desk on September 11.
SB 103 (Cedillo) – To The Governor
SB 103, by Senator Gil Cedillo, requires each local agency to provide specified information to the public before approving an economic development subsidy of more than $100,000 and to review, hold hearings, and report on those subsidies at specified intervals. The initial version of the bill set the threshold for reporting at $25,000, but it was amended on September 6. The bill was sent to the Governor’s desk on that same day.