CA AB 2745

Quick answers

Description

Existing law requires the Governor's Office of Business and Economic Development (GO-Biz) to develop and implement an International Trade and Investment Program, which among other things, attracts employment-producing direct foreign investment, and states related findings and declarations of the Legislature. Existing law requires the Director of the Governor's Office of Business and Economic Development to provide to the Legislature, and update every 5 years, a strategy for international trade and investment, as specified. This bill would recast these provisions to, among other things, expand the required program activities. The bill would also require the office to convene the Global Partnership Advisory Body, a statewide business partnership for international trade and investment, that would advise the director, as specified. The bill would require the director to provide to the Legislature a 5-year strategy for the implementation of the international trade and investment program, developed in consultation with the advisory body, which would give input on goals, performance metrics, and implementation tactics. The bill would require the strategy to be reviewed in at least one public hearing, as specified, and would make other conforming changes. Existing law authorizes GO-Biz to establish an international trade and investment office outside the United States if specified conditions are met. This bill would also authorize GO-Biz to establish regional trade assistance hubs within California to facilitate international trade and investment if specified conditions are met through a specified competitive designation process, and would make other conforming changes. Existing law establishes the Economic Development and Trade Promotion Account in the Special Deposit Fund within the State Treasury. Existing law authorizes the director to expend funds in the account, and any other state, federal, or private funds for international trade and investment offices or international trade shows or activities related to promoting international trade and investment events by entering into contracts to support international market development activities, including, but not limited to, trade shows, trade missions, promotional events, and seminars, as well as staffing support for those activities, in an amount not exceeding $200,000, except as specified. Existing law authorizes GO-Biz to accept moneys, including, but not limited to, state, federal, and private sector funds, for the purposes of operating any international trade and investment office or international trade show or activity related to promoting international trade and investment events. This bill would increase the amount that the director can expend from the account as described above to $500,000 and would expand the purposes for which the funds can be spent, thereby making an appropriation. The bill would make other conforming changes relating to funds donated by a private donor for an international trade and investment office.