Small business financial development corporations: loans and loan guarantees.
It became law on Sep 27, 2012.
- Stage
- Became law
- Started in
- Assembly
- Sponsor
- 1
- Latest action
- Sep 27, 2012
What it does
(1) The California Small Business Financial Development Corporation Law authorizes the formation of small business financial development corporations to grant loans or loan guarantees for the purpose of stimulating small business development. The law imposes certain duties with respect thereto on a director designated by the Secretary of Business, Transportation and Housing. The California Small Business Expansion Fund, which is created under that law and is continuously appropriated, provides funds to be used to pay for defaulted loan guarantees and administrative costs of these corporations. Existing law, until January 1, 2013, specifies that the amount of guarantee liability outstanding…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- Committee on Jobs, Economic Development, and the Economy
In the news
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.