International trade and investment: Global Partnership Advisory Body.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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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 aims to strengthen California’s efforts in international trade and investment by establishing a Global Partnership Advisory Body. It expands the Governor’s Office of Business and Economic Development’s (GO-Biz) role in attracting foreign investment, developing trade strategies, and facilitating international trade activities. The bill also authorizes the creation of regional trade assistance hubs and increases the amount GO-Biz can spend on international trade programs, with the goal of boosting California’s global economic engagement.
Key provisions
- Establishes a Global Partnership Advisory Body to advise GO-Biz on international trade and investment strategies.
- Increases the budget for GO-Biz’s international trade and investment programs to $500,000.
- Authorizes the creation of regional trade assistance hubs within California.
- Requires GO-Biz to develop and implement a 5-year international trade and investment strategy in consultation with the advisory body.
- Expands the purposes for which GO-Biz can spend funds related to international trade and investment.
- Requires the Director of GO-Biz to convene the Global Partnership Advisory Body by March 1, 2027.
- Allows GO-Biz to establish international trade and investment offices outside the United States under specific conditions.
- Requires the development of a conflict-of-interest and gift policy for GO-Biz and its international trade offices.
Who is affected
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Sponsors
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2 on record
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