CA AB427

Establishes the California Aerospace and Aviation Commission with 17 members appointed by the Governor, Speaker of the Assembly, and Senate Committee on Rules to serve as a central point of contact for aerospace and aviation businesses in California.

Commission members include representatives from large and small aerospace corporations, economic development organizations, airports, supply chains, higher education, unions, and investment firms, with two ex officio nonvoting members from the Governor's Office of Business and Economic Development and California Military Department.

Creates the Aerospace and Aviation Account within the California Economic Development Fund to be funded through nonstate moneys including federal funds and private donations, with a limit that no single private donor may contribute more than 25 percent of the annual budget.

Requires the commission to make recommendations on legislative and administrative actions to maintain California's aerospace and aviation industries competitiveness and to report annually on activities, outcomes, industry trends, and economic data to the Legislature.

Commission offices shall be housed within existing operations of the Governor's Office of Business and Economic Development, with operations supported entirely by nonstate funds, and no state activities related to the commission may begin until sufficient nonstate funding is determined to be available.