CA AB1632

Authorizes the California Pollution Control Financing Authority to enact regulations for distribution of funds paid to the authority, enabling participation in alternative federal and state funding programs for capital access loans.

Transfers $32,350,000 from the General Fund to three economic development funds for fiscal year 2010-11: $20,000,000 to the California Small Business Expansion Fund, $6,000,000 to the California Capital Access Fund, and $6,350,000 to the California Economic Development Fund.

Expands the definition of "severely affected community" under the California Capital Access Program to include any city or county with unemployment rate above 110 percent of the statewide average.

Dedicates $6,000,000 for cash matching with federal funds to support six regional Small Business Development Centers and $350,000 for the Federal Technology Center program administered by the U.S. Department of Defense.

Takes effect immediately as an urgency statute to implement the 2010 Budget Act.