Isaac Bryan
- Democratic
- Assemblymember
- District 55
Author
Existing law creates the Governor's Office of Business and Economic Development (GO-Biz) and requires GO-Biz to serve the Governor as the lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. This bill would establish the Antidisplacement Commercial Property Acquisition Program, to be administered by GO-Biz to provide low-interest loans to eligible community-based acquisition partners to acquire commercial property in communities that are vulnerable to gentrification and displacement. The bill would specify the goals of the program, including ensuring local businesses remain in high-risk communities vulnerable to gentrification and displacement. The bill would establish the Antidisplacement Commercial Property Acquisition Revolving Loan Fund, and would authorize GO-Biz, upon appropriation by the Legislature to the fund for purposes of the program, to provide low-interest loans for purposes of the program. The bill would require GO-Biz to adopt regulations to administer the program, including qualifications that prioritize the preservation of Black-, indigenous-, people of color-, and women-owned businesses and the acquisition of commercial property in culturally significant commercial corridors. The bill would require GO-Biz to report to the Legislature on the progress of the program by January 1, 2030, or 5 years after the disbursement of the first loan by GO-Biz, whichever is later. The bill would make the program contingent upon appropriation by the Legislature in the annual Budget Act or another statute for its purposes.
In committee: Held under submission.
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 10. Noes 1.) (April 23). Re-referred to Com. on APPR.
Coauthors revised.
From committee: Do pass and re-refer to Com. on JUD. (Ayes 5. Noes 2.) (April 16). Re-referred to Com. on JUD.
Re-referred to Coms. on J., E.D., & E. and JUD. pursuant to Assembly Rule 96.
From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.
From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.
From printer. May be heard in committee March 17.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2794 | HTML |
| 02/15/24 - Introduced | |
| 03/21/24 - Amended Assembly | |
| 04/04/24 - Amended Assembly |
| Document | Format |
|---|---|
| 04/15/24- Assembly Jobs, Economic Development, and the Economy | |
| 04/19/24- Assembly Judiciary | |
| 05/06/24- Assembly Appropriations |
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