BILL NUMBER: AB 826	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Chau

                        FEBRUARY 26, 2015

   An act to amend Sections 6315, 6315.1, and 12096.5 of the
Government Code, relating to economic development.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 826, as introduced, Chau. Economic development: foreign trade:
foreign and domestic investors.
   Existing law establishes the California Foreign Investment Program
and requires 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. Existing law
authorizes specified public and private corporations to establish,
operate, and maintain a regional center subject to specified
conditions and restrictions. Existing law requires the director to
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.
   This bill would define "regional center" for those purposes. The
bill would require the contact information to include a link to the
Internet Web site for each regional center.
   Existing law also establishes the California Business Investment
Services Program within the office, under the direct authority of the
Director of the Governor's Office of Business and Economic
Development, to serve employers, corporate executives, business
owners, and site location consultants who are considering California
for business investment and expansion. Existing law requires the
director to establish and implement a process for convening teams on
specified key business development situations. Existing law requires
the director, in implementing the program, to work cooperatively with
marketing institutions and trade organizations in attracting,
retaining, and helping businesses grow and be successful in the
state.
   This bill would include attracting foreign and domestic investors
among those key business development situations. The bill would also
require the director to work cooperatively with marketing
institutions and trade organizations in attracting, retaining, and
helping investments grow and be successful in the state.
   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.  Section 6315 of the Government Code is amended to read:

   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)). 
   (5) "Regional center" means an entity designated by the United
States Citizenship and Immigration Services for the purpose of
pooling EB-5 capital from multiple foreign investors in economic
development projects in a defined geographic region, pursuant to a
program approved in Public Law 112-176, dated September 28, 2012.

  SEC. 2.  Section 6315.1 of the Government Code is amended to read:
   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   information,
including a link to the Internet Web site  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.
  SEC. 3.  Section 12096.5 of the Government Code is amended to read:

   12096.5.  (a) The California Business Investment Services Program
is hereby created within the Governor's Office of Business and
Economic Development.
   (b) The program shall be under the direct authority of the
director.
   (c) The purpose of the program is to serve employers, corporate
executives, business owners, and site location consultants who are
considering California for business investment and expansion.
   (d) In implementing the program, the director shall establish and
implement a process for convening teams on key business development
situations, including, but not limited to, attracting new businesses,
 attracting foreign and domestic investors,  relocation of
large manufacturers, or the closure of a large business employer.
   (e) In implementing the program, the director shall work
cooperatively with local, regional, federal, and other state public
and private marketing institutions and trade organizations in
attracting, retaining, and helping businesses  and investments
 grow and be successful in California.