SB 1407

  • California Senate Bill
  • 2021-2022 Regular Session
  • Introduced in Senate Feb 18, 2022
  • Passed Senate May 25, 2022
  • Assembly
  • Governor

California Employee Ownership Act.

Abstract

Existing law establishes the Office of Small Business Advocate (CalOSBA) within the Governor's Office of Business and Economic Development, also known as GO-Biz, to advocate for causes of small business and to provide small businesses with the information they need to survive in the marketplace. This bill would, upon appropriation by the Legislature, establish the California Employee Ownership Act within the Office of Small Business Advocate, administered by an Employee Ownership Program Manager, to assist small businesses in transitioning to employee ownership. The bill would establish, upon appropriation by the Legislature, an Employee Ownership Education and Outreach Grant Program, administered by the manager, for the purpose of funding education and outreach programs that increase awareness and understanding of employee ownership transitions, as defined. grants would be awarded to no more than 5 qualified nonprofit organizations, as described, for purposes of performing qualified education and outreach services, as specified. The bill would require exactly one grant to be awarded to a qualified nonprofit organization for the purpose of developing a statewide coordinated marketing campaign related to transitions of businesses to employee ownership models. The bill would also establish, upon appropriation by the Legislature, an Employee Ownership Conversion Technical Assistance Grant Program, administered by the manager, to partially subsidize conversion costs for qualified businesses transitioning to broad-based employee ownership vehicles, as defined. The bill would direct the manager to preapprove grants and distribute grant funds to qualified service providers, as defined, upon receipt of invoices for qualified conversion costs. The bill would allow grants to cover the lesser of 50% of the cost of qualified conversion services, as defined, or $50,000. The bill would authorize employee-owned companies to participate in California capital programs under specified conditions.

Bill Sponsors (7)

Votes


Actions


Jun 14, 2022

Assembly

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

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

Jun 02, 2022

Assembly

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

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

May 26, 2022

Assembly

In Assembly. Read first time. Held at Desk.

May 25, 2022

Senate

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

May 23, 2022

Senate

Ordered to special consent calendar.

May 19, 2022

Senate

From committee: Do pass. (Ayes 7. Noes 0.) (May 19).

Senate

Read second time. Ordered to third reading.

May 13, 2022

Senate

Set for hearing May 19.

May 02, 2022

Senate

May 2 hearing: Placed on APPR suspense file.

Apr 22, 2022

Senate

Set for hearing May 2.

Apr 18, 2022

Senate

From committee: Do pass and re-refer to Com. on APPR. (Ayes 12. Noes 0. Page 3412.) (April 18). Re-referred to Com. on APPR.

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

Mar 25, 2022

Senate

Set for hearing April 18.

Mar 23, 2022

Senate

Re-referred to Com. on B., P. & E.D.

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

Mar 16, 2022

Senate

From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

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

Mar 09, 2022

Senate

Referred to Com. on RLS.

  • Referral-Committee
Com. on RLS.

Feb 22, 2022

Senate

From printer.

Feb 18, 2022

Senate

Article IV Section 8(a) of the Constitution and Joint Rule 55 dispensed with February 7, 2022, suspending the 30 calendar day requirement.

Senate

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

Bill Text

Bill Text Versions Format
SB1407 HTML
02/18/22 - Introduced PDF
03/16/22 - Amended Senate PDF
06/14/22 - Amended Assembly PDF

Related Documents

Document Format
04/14/22- Senate Business, Professions and Economic Development PDF
04/29/22- Senate Appropriations PDF
05/21/22- Sen. Floor Analyses PDF
06/19/22- Assembly Jobs, Economic Development, and the Economy PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.

If you notice any inconsistencies with these official sources, feel free to file an issue.