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Bill > SB625
CA SB625
CA SB625California Pollution Control Financing Authority: community development financial institutions: grant program.
summary
Introduced
02/18/2021
02/18/2021
In Committee
06/28/2022
06/28/2022
Crossed Over
06/03/2021
06/03/2021
Passed
Dead
08/31/2022
08/31/2022
Introduced Session
2021-2022 Regular Session
Bill Summary
An act to add Title 10.3 (commencing with Section 91640) to the Government Code, and to amend, repeal, and add Sections 44504 and 44515 of the Health and Safety Code, relating to economic development.
AI Summary
This bill would authorize the California Pollution Control Financing Authority (the authority) to establish the California Investment and Innovation Program to provide grants to community development financial institutions (CDFIs) to enhance their capacity to provide technical assistance and capital access to economically disadvantaged communities in California. The bill would create the California Investment and Innovation Fund and require the authority to award grants to eligible CDFIs that meet certain criteria. The bill would specify authorized uses of the grant funds and require the authority to adopt guidelines for the program. Additionally, the bill would change the name of the authority to the California Community Development Financing Authority beginning on January 1, 2024.
Committee Categories
Budget and Finance, Business and Industry, Labor and Employment
Sponsors (5)
Anna Caballero (D)*,
Monique Limón (D)*,
Sabrina Cervantes (D),
María Elena Durazo (D),
Dave Min (D),
Last Action
Assembly Appropriations Hearing (09:00 8/3/2022 1021 O Street, Room 1100) (on 08/03/2022)
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