CA AB3205

Establishes the Regions Rise Grant Program within the Governor's Office of Business and Economic Development to support inclusive, cross-jurisdictional processes that develop strategies addressing regional economic barriers and challenges.

Defines an "eligible applicant" as a regional collective comprised of public and private stakeholders (including cities, counties, businesses, educational entities, and nonprofits) organized around one or more community challenges impacting a geographic region forming a functional economy.

Requires the office to develop and implement a competitive grant process with funds available for three years, with applications including identification of regional issues, key deliverables, steering committee composition, member commitment letters, and data collection plans.

Directs the office to prioritize grant awards to regions demonstrating cross-sectoral solutions to regional challenges, capacity to support disadvantaged areas, and potential for system changes based on success stories and best practices.

Requires funded regional collectives to submit annual and final reports to the office and affected cities and counties detailing analyzed issues, identified priorities, developed strategies, and implementation plans, with the office forwarding recommendations to the Governor, Legislature, and relevant state agencies.