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CA AB2270
Bill
Status
Failed
11/30/2016
Primary Sponsor
Rob Bonta
Click for details
AI Summary
- Modifies prohibition on surety bond guarantees to include private bonding companies when determining probability that a bond would be granted by financial institutions
- Expands eligible contractors for surety bond guarantees to include disadvantaged business enterprise contractors, in addition to women, minority, and disabled veteran contractors
- Requires surety bond programs to provide technical assistance including barrier assessment, business planning, workshops, and linkages with financial and bonding resources
- Authorizes the California Infrastructure and Economic Development Bank to assign program implementation to other state entities, establish pilot projects, or contract with nonstate entities if insufficient qualified corporations exist
- Makes an appropriation from the continuously appropriated California Small Business Expansion Fund to support expanded surety bond program activities
Legislative Description
California Infrastructure and Economic Development Bank: surety bond program.
Last Action
From Senate committee without further action.
11/30/2016
Committee Referrals
Appropriations6/28/2016
Business, Professions and Economic Development6/9/2016
Rules6/6/2016
Appropriations4/11/2016
Accountability and Administrative Review4/5/2016
Jobs, Economic Development, and the Economy3/14/2016
Full Bill Text
No bill text available