AB 1166

Bill Subjects

Abstract

Existing law requires the Governor's Office of Business and Economic Development to develop and implement an International Trade and Investment Program, as specified. Existing law authorizes the Governor's Office of Business and Economic Development to establish an international trade and investment office outside of the United States if specified conditions occur. This bill would establish the California and Israel Trade and Economic Development Act of 2013 to facilitate greater economic development and job creation opportunities for this state. The bill would direct the Governor's Office of Business and Economic Development to formalize an economic relationship between this state and Israel and to build a framework to explore new research and development opportunities to increase investments for renewable energy and increase clean technology, promote development of green collar jobs, and expand employment opportunities in the state. The bill would provide that the provisions of this act that go beyond the current International Trade and Investment Program be funded through donations and bequests designated for this purpose and would create a special fund, the California-Israel Clean Tech Development Fund, that would be continuously appropriated for purposes of carrying out these provisions.