CA AB1547

Abolishes the California Industrial Development Financing Advisory Commission and transfers its Industrial Development Fund moneys to the California Debt Limit Allocation Committee Fund for administrative cost reimbursement.

Expands the California Americans with Disabilities Act Small Business Capital Access Loan Program by broadening the small business definition to include businesses with 30 or fewer full-time employees or less than $5,000,000 in annual income, removing prior restrictive criteria.

Modifies the California Seismic Safety Capital Access Loan Program to eliminate the owner-occupancy requirement and allow financing of passive real estate ownership; expands "qualified building" definition to include buildings constructed before 1981 or identified as seismically vulnerable.

Extends the California Alternative Energy and Advanced Transportation Financing Authority's sales and use tax exclusion to include leases or transfers of tangible personal property to contractors for use in construction contracts on approved projects.

Takes effect immediately as an urgency statute to expedite business access to financing for Americans with Disabilities Act compliance, water efficiency, and earthquake-related improvements.