Bill > AB265

This bill establishes the Small Business Recovery Fund Act to help small businesses recover from state emergencies like natural disasters.akes. The bill creates a fund within the State Treasury that will allocate 90% of appropriated moneys to provide competitive grants ranging from $2,500 to $100,000 to small businesses directly impacted by gubernatorial or local emergencies such as natural disasters, extreme peril conditions, or states of war. To be eligible, businesses must be current on taxes, not in bankruptcy, still operational, and not barred from receiving funds. Grants canrantthe awarded funds on a dollar dollar-for--and can use the money for recovery and upgrades,ocation, and rebuil viability. The The The Office of Small Business Small Business Advocate will manageange the grant program and give businesses that have received assistance. prior assistance program. The bill also remaining 10% of funds funds will be allocated equally between technical assistance centers in disaster areas and a Capital Infusion Program to support technical. The bill bill requires the Director to to submit a report to the Legislature within 180 days after each detailing efforts, will remainian in , with a focusin on supporting businesses owned, disenfranchised populations. The goal is to essential to ensure businesses can remain viable and contribute to California California's economic stability during and after times.

Budget and Finance, Business and Industry

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB265