CaliforniaCapital Programs and Climate Financing Authority Act: California Investment and Innovation Program.
What it does
The Capital Programs and Climate Financing Authority Act establishes the Capital Programs and Climate Financing Authority, consisting of the Director of Finance, the Treasurer, and the Controller. Among other things, the act authorizes the authority to establish one or more small business assistance funds to do various things, including fund a capital access program for small businesses pursuant to specified law, provide various forms of financial assistance, and make or acquire loans or guarantee commercial loans to participating parties eligible for assistance from those funds. The act requires any moneys repaid or returned to the authority in connection with or as a result of any loan or financial assistance made pursuant to these provisions to be deposited in the small business assistance fund from which the loan or assistance was originally provided.
More detail
For the purpose of establishing and maintaining small business assistance funds, the act authorizes the authority to levy fees or other charges on, or require deposits from, participating parties receiving financing for a project under the act, as specified.
The act requires the authority to establish the California Investment and Innovation Program for the purpose of providing grants to enhance the capacity of community development financial institutions to provide technical assistance and capital access to economically disadvantaged communities in the state, as specified. Existing law defines various terms for these purposes.
This bill would authorize the authority to establish one or more small business assistance funds to fund a grant program for community development financial assistance pursuant to the California Investment and Innovation Program. The bill would include in the list of allowed financial assistance that the authority may provide under the act grants made to community development financial institutions in furtherance of that program. By expanding the purposes for which moneys in a continuously appropriated fund may be used, this bill would make an appropriation.
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Where it stands
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 27Chaptered by Secretary of State. Chapter 651, Statutes of 2026.Latest
- Sep 27Approved by the Governor Gavin Newsom.Became Law
- Sep 2Enrolled and presented to the Governor at 3 p.m.To Governor
- Aug 27Assembly amendments concurred in. (Ayes 40. Noes 0. Page 6029.) Ordered to engrossing and enrolling.Major
- Vote recorded Unfinished Business SB700 Grayson Concurrence. Result: pass.Upper
- Aug 26From committee: That the Assembly amendments be concurred in. (Ayes 9. Noes 0. Page 5924.)Minor
- Vote recorded That the Assembly amendments be concurred in. Result: pass.Upper
- Aug 25From committee: Be re-referred to Com. on B. P. & E.D. pursuant to Senate Rule 29.10(d). (Ayes 5. Noes 0. Page 5726.) Re-referred to Com. on B. P. & E.D.Minor
- Aug 25Re-referred to Com. on RLS. pursuant to Senate Rule 29.10(d).Minor
- Aug 24In Senate. Concurrence in Assembly amendments pending.
- Vote recorded SB 700 Grayson Senate Third Reading By Mark González. Result: pass.Lower
- Aug 24Read third time. Passed. (Ayes 78. Noes 0. Page 6388.) Ordered to the Senate.Passed Assembly
- Aug 13Read second time. Ordered to third reading.Minor
- Vote recorded Do pass. Result: pass.Lower
- Aug 13From committee: Do pass. (Ayes 15. Noes 0.) (August 13).Minor
- Aug 13Assembly Rule 63 suspended.
- Aug 5August 5 set for first hearing. Placed on suspense file.
- Jun 23From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 8. Noes 0.) (June 23). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar. Result: pass.Lower
- Jun 23From committee: Do pass and re-refer to Com. on E.D., G., & H.I. with recommendation: To consent calendar. (Ayes 8. Noes 0.) (June 22). Re-referred to Com. on E.D., G., & H.I.Minor
- Jun 22
- Vote recorded Do pass and be re-referred to the Committee on [Economic Development, Growth, and Household Impact] with recommendation: To Consent Calendar. Result: pass.Lower
- Jun 18Assembly Rule 56 suspended.
- Jun 4From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.Major
- May 4Referred to Com. on B. & F.Minor
- Jan 26In Assembly. Read first time. Held at Desk.Minor
- Vote recorded Consent Calendar 2nd. Result: pass.Upper
- Jan 26Read third time. Passed. (Ayes 39. Noes 0. Page 3286.) Ordered to the Assembly.Passed Senate
- Jan 21Read second time. Ordered to consent calendar.Minor
- Jan 20From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar.Minor
- Jan 9Set for hearing January 20.
- Jan 7From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 5. Noes 0. Page 3187.) (January 7). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar. Result: pass.Upper
- Jan 5Re-referred to Com. on B. & F.I.Minor
- Jan 5Re-referred to Com. on RLS.Minor
- Jan 5Withdrawn from committee.Major
- Jan 5From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.Major
- 2025
- Dec 18Set for hearing January 7 in B. & F.I. pending receipt.
- Apr 2Re-referred to Coms. on L. GOV. and L., P.E. & R.Minor
- Mar 24From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.Major
- Mar 12Referred to Com. on RLS.Minor
- Feb 24Read first time.Minor
- Feb 24From printer. May be acted upon on or after March 24.
- Feb 21Introduced. To Com. on RLS. for assignment. To print.Introduced