SB 936

  • California Senate Bill
  • 2015-2016 Regular Session
  • Introduced in Senate Feb 02, 2016
  • Passed Senate Apr 21, 2016
  • Passed Assembly Aug 11, 2016
  • Signed by Governor Sep 27, 2016

California Small Business Expansion Fund: corporate guarantees.

Abstract

Existing law, the Small Business Financial Assistance Act of 2013, establishes the California Small Business Expansion Fund, a continuously appropriated fund that includes General Fund moneys. The act requires guarantees made by small business financial development corporations to be backed by funds on deposit in the corporation's trust fund account or by receivables due from funds loaned from the corporation's trust fund account to another fund in state government, as specified, and requires these loan guarantees to be secured by a reserve of at least 20%, until January 1, 2018, and 25% thereafter, as specified. This bill would reduce the required reserve to 10% indefinitely and would make conforming changes with respect to related statements of legislative intent. Existing law prohibits the amount of guarantee liability outstanding at any one time from exceeding 5 times the amount of funds on deposit in the expansion fund plus any receivables due from funds loaned from the expansion fund to another fund in state government, as specified, until January 1, 2018, and 4 times thereafter. This bill would increase that maximum amount to 10 times the amount of funds on deposit in the expansion fund plus any receivables due from funds loaned from the expansion fund to another fund in state government, as specified, would apply that increased amount indefinitely, and would make conforming changes. Existing law requires the program manager under the guidance of the executive director of the California Infrastructure and Economic Development Bank, to, among other things, authorize the distribution, transfer, and withholding of moneys in the expansion fund and trust funds. This bill would also require the program manager to leverage moneys in the expansion fund and trust funds.

Bill Sponsors (13)

Votes


Actions


Sep 27, 2016

California State Legislature

Approved by the Governor.

California State Legislature

Chaptered by Secretary of State. Chapter 713, Statutes of 2016.

Aug 24, 2016

California State Legislature

Enrolled and presented to the Governor at 5 p.m.

Aug 18, 2016

Senate

Assembly amendments concurred in. (Ayes 36. Noes 0. Page 5140.) Ordered to engrossing and enrolling.

Aug 16, 2016

Senate

Ordered to special consent calendar.

Aug 11, 2016

Assembly

Read third time. Passed. (Ayes 78. Noes 0. Page 5778.) Ordered to the Senate.

Senate

In Senate. Concurrence in Assembly amendments pending.

Aug 04, 2016

Assembly

Read second time. Ordered to consent calendar.

Aug 03, 2016

Assembly

From committee: Do pass. Ordered to consent calendar. (Ayes 20. Noes 0.) (August 3).

Jun 29, 2016

Assembly

Read second time and amended. Re-referred to Com. on APPR.

  • Referral-Committee
  • Reading-2
  • Amendment-Passage
  • Reading-1
Com. on APPR.

Jun 28, 2016

Assembly

From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (June 21).

Jun 02, 2016

Assembly

From committee with author's amendments. Read second time and amended. Re-referred to Com. on J., E.D., & E.

  • Referral-Committee
  • Reading-2
  • Amendment-Passage
  • Committee-Passage
  • Reading-1
Com. on J., E.D., & E.

May 05, 2016

Assembly

Referred to Com. on J., E.D., & E.

  • Referral-Committee
Com. on J., E.D., & E.

Apr 21, 2016

Assembly

In Assembly. Read first time. Held at Desk.

Senate

Read third time. Passed. (Ayes 39. Noes 0. Page 3630.) Ordered to the Assembly.

Apr 19, 2016

Senate

Read second time. Ordered to consent calendar.

Apr 18, 2016

Senate

From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar.

Apr 13, 2016

Senate

Set for hearing April 18.

Apr 12, 2016

Senate

From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 9. Noes 0. Page 3491.) (April 11). Re-referred to Com. on APPR.

  • Referral-Committee
  • Committee-Passage-Favorable
  • Committee-Passage
Com. on APPR.

Apr 04, 2016

Senate

From committee with author's amendments. Read second time and amended. Re-referred to Com. on B., P. & E.D.

  • Referral-Committee
  • Reading-2
  • Amendment-Passage
  • Committee-Passage
  • Reading-1
Com. on B., P. & E.D.

Mar 11, 2016

Senate

Set for hearing April 11.

Feb 18, 2016

Senate

Referred to Com. on B., P. & E.D.

  • Referral-Committee
Com. on B., P. & E.D.

Feb 03, 2016

Senate

From printer. May be acted upon on or after March 4.

Feb 02, 2016

Senate

Introduced. Read first time. To Com. on RLS. for assignment. To print.

Bill Text

Bill Text Versions Format
SB936 HTML
02/02/16 - Introduced PDF
04/04/16 - Amended Senate PDF
06/02/16 - Amended Assembly PDF
06/29/16 - Amended Assembly PDF
08/19/16 - Enrolled PDF
09/27/16 - Chaptered PDF

Related Documents

Document Format
No related documents.

Sources

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