CA AB685

Appropriates $26 million from the General Fund to create the Small Business Resiliency and Innovation Fund, administered by the Office of Small Business Advocate (OSBA)

Allocates funding as follows: $17 million for the Capital Infusion Program, $7 million for the Small Business Technical Assistance Program, and $2 million for OSBA administrative support and oversight

Requires GO-Biz to submit a report to the Legislature by January 1, 2030, detailing the number of businesses assisted, types of assistance provided, and impact on business resilience and innovation

Originally targeted January 2025 wildfire recovery in Los Angeles and Ventura Counties, but was amended to provide general small business assistance statewide

Declared an urgency statute requiring two-thirds vote, taking effect immediately upon passage