Small Business Development Technical Assistance.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill, the Small Business Resiliency and Innovation Act, aims to bolster California’s small businesses by providing increased financial and technical support. It creates a new fund, the Small Business Resiliency and Innovation Fund, and appropriates $26 million to support existing programs like the Capital Infusion Program and the Small Business Technical Assistance Program. The bill also revises eligibility requirements for these programs to ensure consistency and streamline access for businesses receiving funding from non-state sources, and establishes a microgrant program to support startup entrepreneurs.
Key provisions
- Creates the Small Business Resiliency and Innovation Fund with $26 million in state funding.
- Revises eligibility criteria for small business technical assistance center grant programs.
- Authorizes a group of small business technical assistance centers to apply as a network.
- Establishes the California Dream Fund Program to provide microgrants to startup entrepreneurs.
- Requires GO-Biz to submit a report to the Legislature detailing fund allocation and expenditure.
- Modifies eligibility requirements for small business technical assistance centers that experienced contract cancellations or freezes in 2024-25.
- Prioritizes funding for applications that support underserved business groups.
- Clarifies that state funds allocated to the program cannot supplant non-state local cash match dollars.
Who is affected
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Sponsors
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3 on record
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Cosponsors
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