OKAY THE SENATE BUDGET IN FISCAL
REVIEW SUBCOMMITTEE FOR WILL
COME TO ORDER I WANT TO KNOW
THAT UNTIL WE HAVE A QUORUM
WE'RE GOING TO BE STARTING AS A
SUBCOMMITTEE OF THE
SUBCOMMITTEE. AS WE CONTINUE TO
TAKE SOME PRECAUTIONS TO MANAGE
ONGOING COVERT NINETEEN RISKS
THE SENATE CONTINUES TO WELCOME
THE PUBLIC. AND HAS PROVIDED
ACCESS TO BOTH IN PERSON AND
TELECONFERENCE BURKE DISSIPATION
FOR PUBLIC COMMENT. FOR
INDIVIDUALS WISHING TO PROVIDE
PUBLIC COMMENT VIA THE
TELECONFERENCE ORVIS THE
PARTICIPANT TOLL FREE NUMBER AND
ACCESS CODE IS POSTED. ON OUR
COMMITTEE WEBSITE. AND I'M GOING
TO ANNOUNCE IT TODAY. TODAY'S
PARTICIPANT NUMBER IS EIGHT
SEVEN SEVEN TWO TWO SIX. EIGHT
ONE SIX THREE AND THE ACCESS
CODE IS. SEVEN THREE SIX TWO
EIGHT THREE THREE. I WILL
MAINTAIN DECORUM DURING THE
HEARING AS IS CUSTOMARY AND ANY
INDIVIDUAL WHO IS DISRUPTIVE MAY
BE REMOVED FROM THE REMOTE
MEETING SERVICE OR HAVE THEIR
CONNECTIONS. REMOTE WE ARE
HOLDING OUR COMMITTEE HEARINGS
HERE IN THE- STREET BUILDING I
WILL ASK OUR MEMBERS OF THE
SUBCOMMITTEE TO BE PRESENT IN
ROOM TWENTY ONE HUNDRED SO WE
CAN ESTABLISH OUR QUORUM.
ALTHOUGH WE ARE GOING TO BEGIN
THE HEARING AS A SUB RIGHT NOW.
THOSE PROVIDING TESTIMONY BEFORE
THE COMMITTEE TODAY ARE ALSO
PARTICIPATING REMOTELY FOR OUR
REMOTE PARTICIPANTS PLEASE MUTE
YOUR PHONES OR COMPUTERS THIS
WILL GREATLY AID AND ELIMINATING
ANY ACOUSTIC FEEDBACK I ASK THAT
EVERY TIME YOU WISH TO BE
RECOGNIZED YOU RAISE YOUR HAND
YOU USE THE RAISE YOUR HAND
FEATURE IN THE PROGRAM. AND EACH
TIME YOU ARE RECOGNIZED TO SPEAK
A POP UP WINDOW WILL APPEAR
ASKING IF YOU'D LIKE TO UN MUTE
PLEASE SELECT THAT BEFORE
SPEAKING OUR I. T. PERSONNEL
WILL PUT YOU BACK ON YOU WHEN
YOU ARE DONE ONCE RECOGNIZED TO
SPEAK PLEASE MAKE SURE YOU CAN
BE SEEN ON THE SCREEN STATE YOUR
NAME. AND THEN YOU ARE READY TO
ADDRESS THE COMMITTEE. TO ALLOW
THE PUBLIC ACCESS WE HAVE
ADMITTED MEMBERS OF THE PUBLIC
IN THE HEARING ROOM TO THE
EXTENT THAT SOCIAL DISTANCING
REQUIREMENTS ALLOWING WILL BE
USING A TELECONFERENCE SERVICE
FOR THOSE INDIVIDUALS WHO WISH
TO TESTIFY TODAY. PUBLIC COMMENT
WILL BE HEARD AFTER ALL
DISCUSSION ITEMS HAVE BEEN
PRESENTED. I'M. MS WINDOW WE
NEED TO CALL ROLE RIGHT NOW. ALL
RIGHT WE'RE GONNA CALL LOAN GETS
MORE FOLKS ALL RIGHT SO WE WILL
BE DISCUSSING ALL THE ISSUES
LISTED IN THE DISCUSSION SECTION
OF THE AGENDA TOGETHER AS A
REMINDER WE WILL BE TAKING ALL
THOSE AT THE CONCLUSION OF THE
HEARING. AFTER ALL DISCUSSION
AND ALL PUBLIC COMMENT VOTES AT
THE END OKAY WE WILL BEGIN WITH
THE CAL SAVER'S RETIREMENT BOARD
ISSUE TWELVE FULL SCALE
IMPLEMENTATION OF THE CAL
SAVER'S RETIREMENT SAVINGS
PROGRAM. DEPARTMENT WOULD YOU
PLEASE PRESENTS. YES THANK YOU
MADAM CHAIR AND GOOD MORNING
SENATORS AND KATIE SELASKY THE
EXECUTIVE DIRECTOR OF THE
TRANSCEIVERS RETIREMENT SAVINGS
BOARD. BY WAY OF REMINDER
HEALTHY PERSONS FOR PRIVATE
SECTOR WORKERS LACK OF
RETIREMENT PLAN AT WORK. IF
VOLUNTARY FOR EMPLOYEES BUT IS
OPERATED ON AN AUTOMATIC
ENROLMENT BLOCKED OUT BASIS. AND
THE LOS GATOS AND HEALTHCARE
WORSE COMES WITH THE REQUIREMENT
THAT EMPLOYERS WOULD HAVE AT
LEAST FIVE EMPLOYEES AND DO NOT-
PLANNER. LUSTS WITH. ACCESS TO
HEALTH RIVERS FOR THEIR
EMPLOYEES WORKING PENALTIES. THE
PROPOSAL BE YOU REQUEST SIX
MILLION DOLLARS IN ADDITIONAL
LOAN AUTHORITY AND THREE. NEW
POSITIONS TO CONTINUE OPERATING
BECAUSE THE FIRST PROGRAM FOR
APPROXIMATELY THE NEXT THREE
FISCAL YEARS OFF IN ABOUT TWO
MINUTES ADD TO PROVIDE AN UPDATE
ON OUR EARLY PROGRESS TO DATE-
AFTER A SEVEN MONTH PILOT HERE
IT ALSO. LAUNCHED AND AGAIN IT'S
THREE YEAR ROLLOUT IN JULY
TWENTY NINETEEN WITHIN A THREE
YEAR OLD THAT WE HAVE THREE
STAGGERED EMPLOYER COMPLIANCE
DEADLINES. WHICH VARY BY
EMPLOYER SIZE. AND WE ARE
APPROACHING THE FINAL EMPLOYER
COMPLIANCE DEADLINE IN JUST
FIFTY SEVEN DAYS ON JUNE
THIRTIETH- FOR THE- WHERE. AN
IMPORTANT TO NOTE HERE IS THAT
THE FINAL DEADLINE APPLIES TO
MORE THAN NINETY PERCENT. OF THE
TOTAL ESTIMATED EMPLOYER VOLUME
OF TWO HUNDRED EIGHTY SEVEN
THOUSAND EMPLOYERS THAT MEANS
THAT WE ARE FACING A MASSIVE
SURGE OF EMPLOYERS RIGHT NOW ALL
OF MY QUESTIONS AND REQUIRE
SUPPORT. I THE MAJORITY OF THAT
SUPPORT IS PROVIDED BY OUR
CONTRACTED PROGRAM ADMINISTRATOR
BY OUR STAFF. I DOES TAKE A
PORTION OF THAT BALL YOU KNOW
AFTER RESOLUTION. UNIVERSALLY OF
SUPPORT. I'M HAPPY TO SAY THAT
FORTY FOUR THE MORE THAN FORTY
FOUR THOUSAND EMPLOYERS HAVE
REGISTERED TO DATE ALMOST HALF
OF WHOM HAVE JOINED IN THE LAST
FOUR MONTHS. AND A HUNDRED AND
SEVENTY SIX THOUSAND EMPLOYERS
REMAIN FOR US TO ENGAGE WITH.
THIS YEAR I REGARDING SAVERS
THEMSELVES ARE VERY PROUD OF OUR
PURCHASES PARTICIPATION RATE OF
SIXTY EIGHT PERCENT. AMONG ALL
ELIGIBLE EMPLOYEES AND LET ME
JUST PAUSE FOR MOTIVATED THAT'S
REALLY THAT'S REALLY BEING
MEANINGFUL TO US WHEN WE
CONSIDER THAT THE MEDIAN INCOME
OF THE POP. THE SERVER. YOUR AND
THEY DON'T RECEIVE ANY OF MATCH
FOR GOVERNMENT CONTRACTS. OTHERS
MAKING FOR THAT. 5% THAT- IN
THEIR EVERYTHING FLOW. I'M WE
HAVE TO FIFTY THREE. FUNDED
ACCOUNT HOLDING TWO HUNDRED
SEVEN. DOLLARS IN ASSETS AS OF
TODAY. RECEIVERS ARE
COLLECTIVELY CONTRIBUTING TWENTY
MILLION DOLLARS PER MONTH.
NOTABLY IN MORE THAN 40% OF OUR
SAVERS ARE ASSOCIATED WITH MORE
THAN ONE HEALTHCARE PERSON
QUARTER. WHICH REFLECTS THE
PORTABILITY OF THE PROGRAM AND-
THAT THAT THE PROGRAM THE
PORTABILITY OF THE PROGRAM IS
VERY IMPORTANT AND IS WORKING AS
DESIGNED. ONE QUICK UPDATE ON
ENFORCING- WE DELAYED THE
IMPLEMENTATION OF PENALTIES FOR
EMPLOYER NONCOMPLIANCE DURING
THE FIRST NEARLY TWO YEARS OF
THE PANDEMIC. BUT HAVE RECENTLY
BEGUN IMPOSING PENALTIES FOR THE
LARGEST NON COMPLIANT EMPLOYERS
WHOSE DEADLINE WAS SEPTEMBER
THIRTIETH TWENTY TWENTY. TWENTY
TWENTY WHICH WAS ITSELF THAT
EXTENDED FROM JUNE THIRTIETH
TWENTY TWENTY TO KOBE. OTHER
FRANCHISE TAX BOARD AS OUR
PARTNER IMPOSING THE PENALTIES
AND EIGHT YOU KNOW THE FACT OF
ENFORCEMENT REMAINS TO BE SEEN
BUT WE'RE OPTIMISTIC IT'LL HELP
US. BRING EVEN PLAYERS INTO
COMPLIANCE SO THAT THEIR
EMPLOYEES OR ACCESS TO HEALTHY
RECESSED A LOT PROMISES THAT
INCLUDING WE ARE GROWING QUICKLY
IN THIS ADDITIONAL ON IT OR HE
WILL ALLOW US TO CONTINUE
OPERATIONS THROUGH THESE. EARLY
GROWTH YEARS WHILE WE BUILD
TOWARDS SELF SUFFICIENCY MANAGER
THANK YOU AND HAPPY TO TAKE ANY
QUESTIONS. GREAT THANK YOU
MUSCLE AND SKIN I LIKE YOUR
ENERGY TODAY. OF FINANCE NO NO
NO L. A. O. WOULD YOU LIKE TO
PROVIDE ANY COMMENT. MORE JOE'S
WITH A LIST ANALYST ON WE HAVE
NO ASPEN COMMON ON. BUT TO WORK
WITH- THAT AND STAFF FIVE ANY.
COME UP THANK YOU THANK YOU AND
YOU LOOK LIKE YOU'VE GOT GOOD
ENERGY GOING ON TOO. I'VE BEEN
TOLD THAT DEPARTMENT OF FINANCE
IS NOT ON THE LINE. AND THEY
HAVE NOT POPPED UP. FOR THE
DEPARTMENT OF FINAL HERE SHE IS
IN IN PERSON AND WE YES WE RAN
OVER- THANK YOU FOR HAVING US
ADD NOTHING TO ADD AT THIS TIME
BUT WE ARE AVAILABLE TO ANSWER
QUESTIONS IF ANY COME UP
FABULOUS THANK YOU WE WILL NOW
OPEN THE DISCUSSION TO QUESTIONS
FROM MEMBERS OF THE COMMITTEE
SENATOR RON. THANK YOU THANK YOU
BUT I'M SURE IT NO QUESTIONS
JUST TO COMMENT HER. AND A
CONGRATULATIONS I THINK THIS
ACTUALLY IS EXTRAORDINARY THOSE
OF US WHO- AROUND WHEN THIS-
IDEA WAS FLOATED IN THE
INITIATIVE STARTED THE- I WOULD
NEVER HAVE IMAGINED THAT SHE
WOULD HAVE A- OF EMPLOYEE
PARTICIPATION RATE OF ALMOST
SEVENTY PERCENT. I ATTRIBUTE
THAT TO CEMEX SOME OUTSTANDING
WORK ON YOUR PART IN THE PART OF
YOUR STAFF THAT HAS TO BE IT-
AGAIN I'M JUST BLOWN AWAY BY HOW
THIS IS MOVING ALONG. IT SEEMED
WAY BACK THAT THERE WOULD BE SO
MANY OBSTACLES FROM THE FEDS
FEDERAL GOVERNMENT ON DOWN THAT
THIS WOULD NEVER GET OFF THE
GROUND AND IF IT DID WE WOULDN'T
HAVE NEARLY THE PARTICIPATION
RATE THAT YOU SEEM TO BE.
ACHIEVING IN THE PROGRAM SO
KUDOS TO YOU IS A SAY AND- LOOK
FORWARD TO- TO THE FURTHER
PROGRESS REPORT WHEN THE 90%
SIGN UP SO. THANK YOU THANK YOU
MADAM CHAIR THANK YOU I JUST
HAVE ONE QUESTION FOR YOU
MESSALONSKEE YOU MENTION THE
LARGEST EMPLOYERS ARE NOW
GETTING PENALIZED. CAN YOU JUST
REMIND ME WHAT CONSTITUTES A
LARGE EMPLOYER AGAIN. I THANK
YOU MADAM CHAIR IT'S EMPLOYERS
WITH MORE THAN ONE HUNDRED
EMPLOYEES THOSE ARE THE
EMPLOYERS WHOSE DEADLINE WITHIN
TWENTY TWENTY GREAT THANK YOU
FOR THAT- THIS ITEM IS A HOLD
OVER THERE. AND I TO I'M GONNA
SHARE KUDOS. FOR A JOB WELL DONE
. NEXT WE'RE GOING TO MOVE TO
ITEM NUMBER WATER THIRTEEN
UNCLAIMED PROPERTY MANAGEMENT
AND SYSTEM REPLACEMENTS- DO WE
HAVE JENNIFER ON THE LINE HI
GOOD MORNING URBAN HOW ARE YOU
YOU MAY PROCEED ALL RIGHT GOOD
MORNING- MY NAME IS JENNIFER
URBAN I AM THE CHIEF OF BUDGETS
AND ACCOUNTING WITH THE STATE
COMPTROLLER'S OFFICE- THE FIRST
ITEM IS THE UNCLAIMED PROPERTY
MANAGEMENT SYSTEM PLACEMENT IN
TWO THOUSAND EIGHT UNCLAIMED
PROPERTY DIVISION IMPLEMENTED
THE UNCLAIMED PROPERTY SYSTEM OR
THE APPS TWO THOUSAND- AND THIS
WAS A SYSTEM TO MANAGE THE
UNCLAIMED PROPERTY THE STATE
RECEIVES FROM BUSINESSES.
SAFEGUARDS FOR OWNERS RETURNS
THE CLAIMANTS THE US TWO
THOUSAND AND BY EXTENSION THE
COMPTROLLER'S UNCLAIMED PROPERTY
PROGRAM ARE AT RISK OF FAILURE
DUE TO THE SYSTEM'S OUTDATED
STATIC PLATFORM AND THE SERVICE
PROVIDERS AND ABILITY TO CONNECT
ONGOING DEVELOPMENT RESOURCES.
SCO IS REQUESTING RESOURCES TO
SUPPORT THE REPLACEMENT OF THE
UPS TWO THOUSAND WITH THE NEW
UNCLAIMED PROPERTY MANAGEMENT
SYSTEM. ALL HAS A BAND
SIGNIFICANTLY AND ALTHOUGH THERE
HAS BEEN ADDED FEATURES AND
ENHANCEMENTS TO THE CURRENT
SYSTEM IN AN EFFORT TO KEEP UP
THE ENHANCEMENTS AND STRETCH THE
ONE SIMPLISTIC SYSTEM TO A POINT
WHERE ADDITIONAL ENHANCEMENTS
TAKE. MUCH MORE TIME AND MONEY
TO IMPLEMENT. IN ADDITION EACH
ENHANCEMENT FURTHER INCREASES
THE LIKELIHOOD OF CRITICAL
SYSTEM FAILURE. IMPLEMENTING THE
NEW SYSTEM WILL NOT ONLY
INCREASE OPERATIONAL EFFICIENCY
BUT WILL RESULT IN AN ESTIMATED
NET INCREASE OF A HUNDRED AND
TWENTY SIX MILLION DOLLARS IN
REVENUES TRANSPORTATION- FUND IN
AN ESTIMATED INCREASE OF FORTY
SIX MILLION DOLLARS IN UNCLAIMED
PROPERTY RETURNED TO OWNERS. AND
WE'RE HAPPY TO ANSWER ANY
QUESTIONS YOU MAY HAVE. GREAT
THANK YOU FOR THAT AT DO WE HAVE
ALEJO'S OFFICE ON THE LINE. YES
THANK YOU MADAM CHAIR AND
HAULING SOME OF LEGISLATIVE
ANALYST'S OFFICE WE DON'T HAVE
ANY CONCERNS WITH THIS PROPOSAL
OKAY FABULOUS DEPARTMENT OF
FINANCE AND ECONOMIC. THANK YOU
MADAM CHAIR MEMBERS OF THE
COMMITTEE SO WE KINDA NO FURTHER
COMMENT. THANK YOU THANK YOU
LIKE TO BRING IT BACK TO MEMBERS
OF THE COMMITTEE. SOME OF THE
ROUGH YOU ARE ALL OF THE MEMBERS
OF THE COMMITTEE RIGHT NOW. DO
YOU HAVE ANY QUESTIONS. OR
REQUESTS. YOU'RE WELCOME WELL
NEITHER DO I BUT THIS IS GOING
TO BE A HOLD OPEN ITEM AND NOW
WE ARE GOING TO MOVE TO ISSUE
NUMBER FOURTEEN. WHICH IS
CALIFORNIA STATE EMPLOYEES
TELEWORK AND HEALTH CARE
STIPENDS. I THINK WAS URBAN WERE
BACK TO YOU. YES THANK YOU. AT
THE STATE COMPTROLLER'S OFFICE
PRODUCES ALL CIVIL SERVICE
EMPLOYMENT RELATED PAYMENTS
WHICH EQUATE TO APPROXIMATELY
EIGHT POINT NINE MILLION PER
YEAR. AS HE WAS REQUESTING
RESOURCES TO SUPPORT THE
DISBURSEMENT UP TO NEW PAYMENTS
ALLEGE ARE TO ELIGIBLE STATE
EMPLOYEES. LIMITED TERM FUNDING
IS REQUESTED TO CONTINUE FOR ONE
ADDITIONAL YEAR PAYMENTS FOR THE
PROGRAM. TITLED IMPROVING
AFFORDABILITY AND ACCESS TO
HEALTH CARE. AND PERMANENT
FUNDING IS REQUESTED TO SUPPORT
RESEARCH. SHE ADDED MONTH
TELEWORK SECOND PAYMENTS. BOTH
OF THESE PAYMENTS ARE DECISIONAL
PAYMENTS PROCESS SEPARATELY FROM
EMPLOYEE PAYROLL. THE INCREASE
FUNDING WILL ALLOW SCO TO
PRODUCE AN ESTIMATED ONE POINT
ONE MILLION HEALTH BENEFIT
PAYMENTS IN TWENTY TWO TWENTY
THREE. AND SEVEN HUNDRED
THOUSAND TELEWORK SECOND
PAYMENTS ANNUALLY ON GOING WHICH
REPRESENTS THE CURRENT
POPULATION WITHIN THE SIX
BARGAINING UNITS THAT HAVE
NEGOTIATED. THESE TELEWORK
STIPENDS TO DATE. THE REQUESTED
REESE. MOST PERSONNEL RELATED
COSTS FOR THE END TO END CLAIM
TO PAYMENT PROCESSING FOR ALL
PAYMENTS AS WELL AS THE HARD
COSTS INCLUDING PAPER MACHINERY
MAINTENANCE AND SUPPLIES. TO
PRODUCE THE PAPER WARRANTS AND
WE'RE HAPPY TO ANSWER ANY
QUESTIONS YOU MAY HAVE. RIGHT
THANK YOU NOW CAN WE HEAR FROM
THE ALEJO'S OFFICE. YES NO
CONCERNS MANAGER OKAY FABULOUS
AND DEPARTMENT OF FINANCE.
BERMAN MY MOTHER YEAH THANK YOU
THANK YOU SENATOR RON ANY
QUESTIONS FOR YOU. ALL RIGHT
WELL YOU KNOW I YOU'RE LEFT OUT
TODAY BECAUSE I HAVE NO
QUESTIONS FOR YOU ALL EITHER
ALTHOUGH THIS IS GOING TO BE A
HOLD OPEN ITEM AND SO NOW WE'RE
GOING TO MOVE ON THE ISSUE
NUMBER FIFTEEN WHICH IS STATE
SMALL BUSINESS. CREDIT
INITIATIVES THIS IS AN UPDATE
THIS IS FOR INFORMATION ONLY- I-
MISTER BENNETT BUT YOU WILL GET
NOW. NO THANK YOU VERY MUCH WELL
HERE WE GO IT'S A MR KELLAM.
THANK YOU MEMBERS OF THE
COMMITTEE FOR THE OPPORTUNITY
SPEECH TODAY I AM CLING CALLUM
CHIEF DEPUTY EXECUTIVE DIRECTOR
OF I THINK I THINK IT'S PART OF
GO BUSINESS SERVICES THE STATE'S
GENERAL PURPOSE FINANCING
AUTHORITY AND HOUSES THE SMALL
BUSINESS FINANCE CENTER. I'M
HERE TODAY TO DISCUSS THE
STATE'S SMALL BUSINESS CREDIT
INITIATIVE RSS BCI S. S. B. C. I
WAS ORIGINALLY CREATED THROUGH
FEDERAL LEGISLATION THE SMALL
BUSINESS JOBS ACT OF TWO
THOUSAND TEN. IN TWO THOUSAND
TEN S. S. B. C. I WAS FUNDED
WITH ONE POINT FIVE BILLION TO
STRENGTH AND STATE PROGRAMS THAT
SUPPORT FINANCING OF SMALL
BUSINESSES. CALIFORNIA RECEIVED
A HUNDRED AND SIXTY EIGHT
MILLION OF THE ONE POINT FIVE
BILLION WHICH IS SPLIT EQUALLY
BETWEEN AYE BANKS AND THE
CALIFORNIA POLLUTION CONTROL
FINANCING AUTHORITY WITHIN THE
TREASURER'S OFFICE OR. CP CFA. I
CAN REST PLAN ACT OF TWO TWENTY
ONE RIYADH. A IS B. C. WHO ARE
TO- INCLUDING MILLION. WE
REFERRED THESE TWENTY TWENTY ONE
FOR AS AS B. C. A. TO PO OUT. A
TEN BILLION DOLLARS. FROM THE
AMERICAN RESCUE ACTOR TWENTY TWO
ONE WAS APPROPRIATE AS FOLLOWS.
A APPROXIMATE SIX BILLION
DOLLARS AVAILABLE TO STATES TO
BE DISTRIBUTED BY FORMULA BASED
ON TWENTY TWENTY EMPLOYMENT
NUMBERS. ONE POINT FIVE BILLION
FOR SOCIALLY AND ECONOMICALLY
DISADVANTAGED BUSINESSES BASED
ON POPULATION RESIDING AND SEE
IF I INVESTMENT AREAS. WE REFER
TO THESE AS THE STUDY FINDS.
THERE'S ONE MILLION DOLLARS TIED
TO THE CITY FUNDS BASED ON
PERFORMANCE AND I'M- PROVIDING
FINANCING TO THAT THOSE
CATEGORIES. FIVE HUNDRED MILLION
FOR VERY SMALL BUSINESSES WHICH
IS JUST NOT DEFINED A SMALL
BUSINESSES WITH TEN EMPLOYEES OR
LESS. I HUNDRED MILLION FOR.
ASSISTANCE AND FIVE HUNDRED
MILLION FOR TRIBAL GOVERNMENTS.
JUST AS WITH S. B. C. I. ONE
PLANO I THINK CAN SEE PEACE YET
THEY ARE WORKING HAND IN HAND TO
ENSURE SUCCESSFUL LAUNCH AND
IMPLEMENTATION OF THIS FEDERAL
FUNDING. JOINTLY WE EXPERIENCED
STRONG SUCCESS WITH THE THREE
PROGRAMS OPERATED AS THE S. B.
C. I. ONE POINT NOW. FOR TWO
POINT NOW I THINK IT'S YOU CAN
SEE IT ADMIN MEETING BY WEEKLY
JUST MET THE STATE PROPOSAL AND
PREPARE FOR THE NEW SUNDAY. WE
BOTH HAVE DEDICATED WEB PAGES
EMAIL ADDRESSES TO KEEP THE
PUBLIC INFORMED RECEIVED
QUESTIONS AND COMMENTS. IT HELD
A SERIES OF STAKEHOLDER MEETINGS
OVER THE PAST YEAR TO SOLICIT
INPUT ON OUR IMPLEMENTATION.
THIS OUR- TO YOUR TREASURY
PEPPERY PHYLLIS. ON MARCH
SEVENTH THEY CAN FRIENDLY APPLET
. IS COMPLETE ONE OF THE FIRST
IN THE NATION. WE EXPECTED TO GO
BEFORE THE TREASURY'S REVIEW
PANEL IN YOUR FUTURE. WITH S. S.
B. C. I. TO PLANO WE EXPLAINED
DESPITE FUNDS EQUALLY AGAIN
BETWEEN I THANK AND CTCA. NOW A
LITTLE BIT ABOUT THE S. S. B. C.
I. REQUIREMENTS. TO RECEIVE SS
DCI FUNDS THE STATE PLANS IS NOT
MATCHES NOT REQUIRED. HOWEVER
THERE MUST BE AT LEAST A DOLLAR
FOR DOLLAR MATCH FROM THE
PRIVATE SECTOR. AND THERE'S A
CUMULATIVE LEVERAGE REQUIREMENT
OF TEN TO ONE BETWEEN ALL S. S.
B. C. I. PROGRAMS. THEREFORE
SUCH FUN TO DRIVE AT LEAST
TWELVE BILLION DOLLARS OF
FINANCING ACTIVITY IN CALIFORNIA
OVER THE LIFE OF THE TEN YEAR
PROGRAM. THREE CRITICAL
CONSIDERATIONS MSSP BCI WHICH
ARE ALL SLIGHTLY AT ODDS WITH
EACH OTHER. ARE BEING ABLE TO
DEMONSTRATE A REASONABLE
EXPECTATION THAT THE STATE'S
PROGRAM WILL GENERATE A LEVERAGE
RATIO OF AT LEAST TEN TO ONE.
MEETING THE STEADY PERFORMANCE
TARGETS TO BE ABLE TO MAXIMIZE
THE AMOUNT OF. PERFORMANCE FUNDS
AVAILABLE TO CALIFORNIA AND
MEETING THE DEPLOYMENT
REQUIREMENTS. WHICH ARE 80% OF
THE FUNDS HAVE TO BE UTILIZED
WITHIN THREE YEARS TO BE
ELIGIBLE FOR EACH SUCCESSIVE
CHALLENGE. AND ALL FUNDS HAVE TO
BE UTILIZED. BY SEPTEMBER
THIRTIETH OF THE THIRTY. I THINK
PLANS. TO PROGRAM OVER THE THESE
S. S. B. C. FUNDS THE FIRM IS
OUR SMALL. LONGER PROGRAM THAT
WAS ESTABLISHED IN NINETEEN
SIXTY EIGHT AND WAS A RECIPIENT
OF ONE POINT OH FUNDS. IN MY
REACHED EIGHTY FOUR MILLION
DOLLARS OF THOSE FUNDS AND INTO
ONE BILLION DOLLARS OF FINANCING
ACTIVITY. THE PROGRAMS CONTINUE
TO GROW TO THIS DAY AND
INCREASES ACCESS TO CAPITAL FOR
SMALL BUSINESSES. BY PROVIDING
GUARANTEES ON BANK LOANS IN
CASES WHERE LENDERS MIGHT NOT
OTHERWISE TO MAKE A LOAN OR ONLY
AT PROHIBITIVE INTEREST RATES.
WE PLAN TO ALLOCATE THREE
HUNDRED NINETY ONE DOLLARS TO
THIS PROGRAM. THESE ON
STAKEHOLDER INPUT. WE HAVE MADE
NUMEROUS CHANGES ENHANCEMENTS TO
THE PROGRAM. WE'VE INCREASED OUR
DANTE CAP FROM ONE MILLION
DOLLARS TO TWO POINT FIVE
MILLION DOLLARS. WE'RE WORKING
ON INCREASING LENDER
PARTICIPATION IN OUR PROGRAM
WITH A FOCUS ON MORE SIGNIFIES
AND MINORITY DEPOSITORY
INSTITUTIONS. WERE INCREASING
ADMINISTRATIVE FUNDING TO OUR
SEVEN NONPROFIT FINANCIAL
DEVELOPMENT CORPORATION TO HELP
US ADMINISTER THE PROGRAM. WERE
EXPLORING A WEB BASED PORTAL TO
CONNECT LENDERS SMALL BUSINESSES
TO THE LENDERS ON OUR PROGRAMS.
AND WE'RE ALSO CONSIDERING OTHER
FOR- I AM ENHANCEMENTS. THE
SECOND PROGRAM I MAKE PLANS TO
OPERATE AS A VENTURE CAPITAL
PROGRAM ONE OF THE S. S. B. C.
HAS FIVE ALLOWED PROGRAMS.
THIRTY OTHER STATES IN
JURISDICTIONS IN S. S. B. C. I.
ONE POINT OUT USE THOSE FUNDS TO
STATE SET UP STATE VENTURE
CAPITAL PROGRAMS. KELLER COUNTY
HAS A UNIQUE OPPORTUNITY. TO
CATALYZE A MORE INCLUSIVE
VENTURE CAPITAL ECOSYSTEM AND
WILL APPLY TWO HUNDRED MILLION
DOLLARS TO INVEST IN
UNDERREPRESENTED VENTURE CAPITAL
MANAGERS. UNDERREPRESENTED
ENTREPRENEURS GEOGRAPHIC AREAS
OF CALIFORNIA RECEIVED LITTLE
VENTURE CAPITAL FUNDING. AND
PROMOTING CLIMATE EQUITY IN
CLIMATE JUSTICE. WHILE INITIALLY
COMPLEX TO ESTABLISH THE VENTURE
CAPITAL PROGRAM HAS OTHER
BENEFITS YOU CAN DISPERSE LARGE
AMOUNTS OF CAPITAL COMPARED TO
THE OTHER PROGRAMS AND TELL
SIGNIFICANTLY HIGHER CAPITAL
LEVERAGE. IT MAY ALSO PROVIDE
SMALL BUSINESSES NON DEBT
CAPITAL WHICH. STAKEHOLDERS
NOTED IS AN IMPORTANT NEED. IN A
TO THE CAR SUPPORT PLANS S. S.
B. C. I. TO NO INCLUDE FIVE
MILLION DOLLARS NATIONWIDE FOR
TECHNICAL ASSISTANCE. TREASURY
HAS ANNOUNCED HIS PLAN
DISTRIBUTION OF THE FIRST THREE
HUNDRED MILLION WITH TWO HUNDRED
MILLION DOLLARS GOING TO STATES
TERRITORIES AND TRIBES AND ONE
HUNDRED MILLION DOLLARS GOING TO
THE MINORITY TO GET BUSINESS
DEVELOPMENT AGENCY WITHIN THE
DEPARTMENT OF COMMERCE.
CALIFORNIA IS SLATED TO RECEIVE
TWENTY FIVE POINT THREE MILLION
. THE CALIFORNIA OFFICEAND
SMALL BUSINESS ADVOCATE WILL
ADMINISTER THE TECHNICAL
ASSISTANCE COMPONENT OF SCCI.
TECHNICAL ASSISTANCE FUNDING
WILL PROVIDE A RANGE OF
ASSISTANCE FROM LEGAL ACCOUNTING
AND FINANCIAL SERVICES. OFFICES
SMALL BUSINESS ADVOCATE INTENDS
TO LEVERAGE HIS EXPERIENCE WITH
THEIR TECHNICAL ASSISTANCE
EXPANSION PROGRAM IN THE
DEVELOPMENT AND ADMINISTRATION
OF THE SS DCI TECHNICAL
ASSISTANCE FUNDS. THE
APPLICATION FOR THIS PROGRAM IS
DUE JUNE THIRTIETH AND THE
PROGRAM GUIDANCE WAS JUST
RELEASED LAST WEEK. I'M HERE
TODAY WITH CHRISTINA ST. CAN OF
DIRECTOR CVS CFA DISCUSS THEIR
PROGRAMS I WANT TO PASS IT OVER
TO HER. HELLO HELLO GOOD MORNING
MY NAME'S KRISTINA I AM THE
DEPUTY EXECUTIVE DIRECTOR FOR
CBC OKAY AND- WE JOINED WITH I
BANKS YOU SUBMIT OUR APPLICATION
FOR SS DCI FUNDING- USING TWO OF
OUR PROGRAMS THE- HOW CAP SMALL
BUSINESS PROGRAM WHICH IS A LOAN
LOSS RESERVE PROGRAM WHERE WE-
MATCH A LENDER- THEY PUT MONEY
INTO A RESERVE ALONG WITH THE
BAR WORK AND THEN WE MATCH WITH
THE LENDER HAS PUT IN UP TO
THREE AND A HALF PERCENT- THE
PROGRAM PROVIDES LENDERS WITH
THE NEEDED ENCOURAGEMENT SAID
LEADING TO SMALL BUSINESSES THAT
FALL SHORT OF QUALIFYING. FOR
TRADITIONAL LENDING AN ASSIST
CALIFORNIA'S UNDERSERVED SMALL
BUSINESSES IN OBTAINING CREDIT
TO HELP THEM GROW EXPAND AND
INCREASE EMPLOYMENT
OPPORTUNITIES WELL THERE'S NO
MINIMUM TAP NO MINIMUM OR A CAP
ON THE AMOUNT THAT WE IN ROLE WE
DO CONSIDER THIS PROGRAM TO BE A
MICROLENDING PROGRAM WITH THE
AVERAGE ENROLLED LOAN BETWEEN
FIVE THOUSAND AND FIFTY THOUSAND
DOLLARS HOW CAP FOR SMALL
BUSINESS LOANS MAY BE ENROLLED
IN THE PROGRAM FOR UP TO TEN
YEARS AND WHILE THE FEDERAL WE
DETERMINE SMALL BUSINESS IS
FEWER THAN FIVE HUNDRED
EMPLOYEES HOW CAP AS THESE
PRIMARY LOAN ENROLLMENT AT
NINETY ONE PERCENT. IS TO
BUSINESSES WITH FEWER THAN TEN
EMPLOYEES SOME OF THE TYPES OF.
LOANS THAT WE'VE- IT ARE- THE
LARGEST LOAN WAS FIVE WERE EVEN
IN. YOUR IN THE WORLD OUT WITH
AND A HALF MILLION AND WORK
CAPITAL FOR A MINUTE STAFFING
COMPANY. AND THEN THE SMALLEST
LOANS THAT WE'VE DONE HAVE BEEN
AROUND FIVE HUNDRED DOLLARS AND
THEY FUNDED BUSINESSES AS VARIED
AS A FOOD CART VENDOR. PRESCHOOL
AND THE BOOK PUBLISHING COMPANY-
OTHER EXAMPLES OF THE TYPES OF
BUSINESSES THAT WE NEED TO HELP
OUR DIRECT SELLER. JANITORIAL
SERVICES BEAUTY SALONS FULL
SERVICE RESTAURANTS MOBILE FOOD
SERVICES AND TRUCKING COMPANIES
THE TOP THREE LOAN PURPOSES ARE
FOR WORKING CAPITAL. OR
INVENTORY AND START UP COSTS-
THE SECOND PROGRAM IS OUR
PROGRAM. AND IT DOES WHAT IT
SAYS IT PROVIDES COLLATERAL
SUPPORT- LIAM ROLE WHEN A LENDER
AND ROLLS THE LOAN- IN SIESTA
KEY WE PROVIDE COLLATERAL FOR
LOANS OF AT. A FIFTY THOUSAND OR
MORE- CSP PROVIDES PRIORITIZE IS
VERY SMALL BUSINESSES BY
PROVIDING A LARGER PERCENTAGE OF
COLLATERAL SUPPORT FOR LOANS UP
TO TWO HUNDRED AND FIFTY
THOUSAND DOLLARS. IT ALSO
PRIORITIZES MANUFACTURING AND
GREEN BUSINESSES FOR PROVIDING
MORE COLLATERAL SUPPORT FOR
LOANS FROM FIFTY THOUSAND TO
TWENTY MILLION FOR THOSE TYPES
OF BUSINESSES. BOTH OF THESE
PRIORITIES ALIGN WITH THE S. S.
B. C. I. TWO POINT OH GOALS.
THESE GOALS THESE LOANS ARE
USUALLY SHORTER TERMS AND LARGER
AMOUNTS AND THE CAL CAP S. S. B.
THEN THE- SB PROGRAMS USED
PHONES MAY BE ENROLLED FOR A
MAXIMUM OF. FOUR YEARS IN OUR
LARGEST LOAN ENROLLMENT WAS A
TEN MILLION DOLLARS IN ITS
FUNDED WORKING CAPITAL FOR IN
ENGINEERING SERVICES FIRM. AND
OUR SMALLEST LOAN IN ROME IT WAS
FIFTEEN THOUSAND DOLLARS AND
PROVIDE WORKING CAPITAL FOR A
RESTAURANT. OTHER EXAMPLES OF
BUSINESSES USING CS. PR
MANUFACTURING RESTAURANTS AND
TRACKING AND THE TOP THREE
PURPOSE FOR THE WORK WORKING.
EQUIPMENT PURCHASES AND TENNIS.
WE DO WANT TO- THERE'S A THIRD
THAT WERE LOOKING AT. SORRY IT'S
A LOAN. PRO THERE AND WHERE WE
WOULD ACTUALLY BE INVESTING IN A%
LOAN- WITH THE LANGER'S. AND
WE'RE HOPING TO IMPLEMENT THE L.
P. P. WITHIN THE FIRST THREE
YEARS OF S. S. B. C. I. TWO
POINT NO IT WILL REQUIRE US TO
AMEND OUR APPLICATIONS REFLECT
THE THIRD PROGRAM AND WILL ASK
THE U. S. TREASURY TO ADJUST OUR
ALLOCATION TO INCLUDE LPP. THE
INCLUSION OF THE L. P. P. AND I
BANKS NEW VENTURE CAPITAL
PROGRAM WILL COVER ALL OF
CALIFORNIA'S BASES IN PROVIDING
EVERY PROGRAM TYPE AVAILABLE
THAT MEETS THE U. S. TREASURIES
PROGRAM TYPES WITHIN THE S. S.
B. C. I. TWO POINT OH
GUIDELINES. AND HOW DO WE PLAN
TO GET THAT MONEY OUT WE AND WE
THE PROGRAM- CAL CAP HAS BEEN
CONTINUOUSLY RUNNING FOR TWENTY
YEARS AND SO WE YOU KNOW EVEN
WITHOUT THE S. S. B. C. I.
FUNDING WE'VE BEEN ROLLING.
CONTINUOUSLY DO OUTREACH BUT FOR
S. B. C. ID WE'RE GONNA
INTENCIÓN ENGAGE WITH OUR LENDER
COMMUNITY EXPAND OUR NETWORK OF
LENDERS CAL CAP AS HE CURRENTLY
HAS TWENTY LENDERS AND BC'S P.
PROGRAM HAS SEVENTEEN LENDERS
WITH TWO MORE ON DECK AS THEY
COMPLETE. THEIR REQUIRED LENDER
EDUCATION IN AN EFFORT TO
FURTHER INCENTIVIZE OUR LENDERS
CPC OBEY HADN'T INCLUDED A NEW
PROGRAM FEATURE AND SUSPENDED
ANOTHER- THE IMPLEMENTED WHEN
WILL BE THE LONE RESERVE
MATCHING SO CURRENTLY FOR- THE
LOAN LOSS RESERVE PROGRAM WE
ONLY MATCH WITH THE LENDER PUTS
INTO THE RESERVE ACCOUNT BUT
WE'RE GOING TO. I'M GOING
FORWARD WITH S.S. B. C. I. TWO
POINT OH WE'RE GOING TO MATCH
THE LENDER AND THE BORROWER SO
THAT'LL BE CAL CAP PROVIDING A
SET UP TO SEVEN PERCENT- AND
THEN THE OTHER THING WE'RE GOING
TO DO IS SUSPEND THE RECAPTURE
FEATURE FOR- S. S. B. C. I. TO
POINT OUT. AND THEN FURTHER
OUTREACH THAT WE'RE DOING IS
WE'RE PARTNERING PARTNERING WITH
THE OFFICE FOR STOP SMALL
BUSINESS ADVOCATES. AS WELL AS I
BEING- AND THEN. OUTREACH TO
LENDER WEB IN OUR LENDER ROW.
CONTAIN TO TEND AT INDUSTRY
EVENTS NETWORKING- AND WE'RE
GONNA TRY AND TAKE A SYNERGISTIC
APPROACH WITHIN THE TREASURER'S
OFFICE- THERE IS A PROGRAM THAT
WE HAVE CALLED LEAFLETS THE
LOCAL AGENCY INVESTMENT FUND.
THEY HAVE TWO THOUSAND THREE
HUNDRED MEMBERS AND WE'RE GOING
TO BE USING THAT AS A OUT REACH
POINT. AND HOPEFULLY I KNOW WE
SPOKE EARLIER ABOUT- CAL SAVERS
AND WE'RE HOPING TO USE THAT AS
AN OUT REACH POINT ALSO. AND THE
OTHER PART THAT WE WERE TALKING
ABOUT WAS REPORTING. D. S. B. C.
I. TWO POINT NO HAS ANNUAL AND
QUARTERLY REPORTING- AND WE'LL
BE FOLLOWING ALONG IT'S VERY
REVISED- THE REPORT. IS THE
CURRENT QUARTER IN CUMULATIVE
DOLLAR AMOUNT OF LOANS AS WELL
AS ADMINISTRATIVE COSTS THERE'S
ALSO A SUMMARY OF ALLOCATED A
RECYCLE BINDS. AND ADJUSTMENTS
AND APPLICABLE IN THE QUARTERLY
REPORT IS A SPREADSHEET PROVIDED
BY TREASURY TO SPECIFIC FIELD
THAT WILL HAVE TO COMPLETE- THE
ANNUAL REPORTS IS THE HIGH LEVEL
SUMMIT BY THE TRANSACTIONS. AND
IT WILL INCLUDE SOME SIR STEADY
DEMOCRAT. MINORITY OWNER BY
STATUSES WOMEN KNOWN TO CONTROL
BUSINESS VETERANS AND ANY RACE
ETHNICITY. GENDER SEXUAL
ORIENTATION MIDDLE EASTERN OR
NORTH AFRICAN ANCESTRY AND THAT
TURNED STATUS WITHIN THE
PRINCIPAL OWNERS IDENTITY. AND
THAT WAS ALL I HAD. THAT WAS A
LACK- ARE WE NOW HEAR FROM BUT
GOOD GOOD STUFF ARE WE NOW GOING
TO HEAR FROM AS FRENCH TUBO. I
AM I BROUGHT HER LUNGS TECHNICAL
ASSISTANCE OKAY YOU HAD ANY
QUESTIONS RIGHT NOT JUST YET BUT
YOU NEVER KNOW ALL RIGHT SO I
GUESS NOW WE'RE GOING TO HEAR
FROM- THE ALEJO'S OFFICE.
ALTHOUGH I HAVE S. TEO KARMA
MANNY. NOW ALL RIGHT MISTER
WHETHER FOR YOUR UP. GOOD
MORNING MY NAME IS BRIAN WHETHER
FOR AND WITH THE LEGISLATIVE
ANALYST'S OFFICE- WE PREPARED A
HAND OUT OF THE PROVIDE AN
OVERVIEW OF THE STATE SMALL
BUSINESS CREDIT INITIATIVE
PROGRAM. AND YOU SHOULD HAVE A
PHYSICAL COPY BUT- AND- IN ALL
NOTE THAT THE HERE THAT'S
AVAILABLE ON THE COMMITTEE'S
WEBSITE AS WELL FOR. ANYONE WHO
HAS AN INTEREST BUT OBVIOUSLY IN
THE INTEREST OF TIME NOT GONNA
WALK THROUGH ALL OF THE HAND OUT
IT HAS A LOT OF- WE THINK IT
COULD BE HELPFUL REFERENCE TO
YOU BUT- BUT OBVIOUSLY THERE'S
SOME LIMITED AMOUNT OF TIME BUT-
AT IT BUT FOR EXAMPLE AND HE
JUST THREE AND FOUR WE DESCRIBE
THE FIVE TYPES OF. PUBLIC LOAN
PROGRAMS TO HELP SMALL
BUSINESSES AND THAT SUPPORT
SMALL BUSINESS LENDERS- SEE IF
YOU ARE CURIOUS ABOUT LIKE WHAT
THE DIFFERENCE BETWEEN THE
CAPITAL ACCESS. PROGRAM AND DAY-
LEARN PARTICIPATE PROGRAM YOU
YOU CAN SEE THE IN THERE- BY.
I'M GONNA AHEAD PAY. THE JOHN F.
JUMP AHEAD BROTHER. SO THE STATE
ONE EIGHT- WE THINK IT COULD BE
HELPFUL IT PROVIDES SOME
SUMMARIES. FOR THE FIRST
ITERATION OF THE SS DCI PROGRAM
AND- I WANTED TO CALL YOUR
ATTENTION TO THIS TABLE BECAUSE
IT HIGHLIGHTS SOME OF THE KEY
DIFFERENCES- BETWEEN THE IBEACON
CPSC PROGRAMS THAT- BURKE WERE
DISCUSSED AND IF YOU LOOK IN THE
MIDDLE- COLUMN ON TOTALLY
FINANCING FRIENDS I'M SORRY THE
TOTAL NUMBER OF LOANS
INVESTMENTS AND THEN THE AVERAGE-AMOUNT YOU'LL SEE THAT THE
CAPITAL ACCESS PROGRAM SUPPORTED
A- RELATIVELY LARGE NUMBER OF
LOANS. THAT WERE ALSO
RELATIVELY- SMALL DOLLAR AMOUNTS
AND- THE LOAN GUARANTEE PROGRAM-
FOR EXAMPLE- BUT LISTEN TO SOME
OF YOUR LOANS BUT MUCH LARGER
DOLLAR VALUE SO I THINK THAT'S
IMPORTANT- IN CONTEXT AND- WHAT
WAS JUST DISCUSSED AND ALSO
THINKING ABOUT. ON THE PROGRAM
MOVING FORWARD- AND WE CAN TALK
ABOUT MORE OF THIS IF YOU WANTED
AGAIN BUT ON THE ON- THE-
ATTORNEY. NINE DESCRIBE SECOND
ITERATION OF THE SST SAGT AND
I'M NOT GOING TO DWELL ON THIS
BECAUSE THE PREVIOUS PANELISTS
DESCRIBED IT VERY WELL. I DID
WANT TO CALL YOUR ATTENTION TO
THE THREE VOTES FOR BOTTOM OF
PAGE NINE SO ON THESE ARE THE
PROGRAM REQUIREMENTS THE MISTER
KELLAN I JUST DESCRIBED. AND IT.
IS MIGHT HAVE BEEN CLEAR FROM
THAT BUT- WE WANT TO CALL
ATTENTION TO IT TO SOME EXTENT
THE VARIOUS REQUIREMENTS OF THE
FEDERAL- PROGRAM. WORK AT CROSS
PURPOSES- AND THE PROGRAMS WILL
NEED TO BALANCE THESE
REQUIREMENTS IN ORDER FOR THE
PROGRAMS TO ACHIEVE ALL OF THEIR
OBJECTIVES. AND IN THE LAST
COUPLE DAYS AND ALSO REPRINTED
IN THE AGENDA ARE SOME OF OUR-
KEY TAKE AWAYS BUT THE MAIN
OVERARCHING POINT IS THAT THE
STATE. WILL NEED TO INCREASE ITS
CAPACITY FOR THESE LENDING
SUPPORT PROGRAMS ON PRETTY
QUICKLY. AND THAT THIS WILL
LIKELY REQUIRE THE STATE TO TAKE
ON A LITTLE BIT MORE RISK. OTHER
PROGRAMS WILL NEED TO
SIMULTANEOUSLY GIVE ATTENTION
BOTH TO PROGRAMS THAT HELP THE
SMALLEST BORROWERS AS WELL AS
THOSE THAT HELP SMALL BUSINESSES. AT THE LARGER END OF THE
SPECTRUM. AND THEN- REALLY TO.
OF IS- WE SUGGEST YOU LOOK
FORWARD AHEAD TO TWENTY THIRTY.
AND BEGIN THINKING ABOUT HOW THE
FUNDS THAT- ARE MADE AVAILABLE
FOLLOWING THE REPAYMENT OF LOANS
ARE REDEPLOYED. AND RECYCLED IN
THESE PROGRAMS. TO THIS END YOU
WILL LIKELY WANT TO ENSURE THE
PROGRAMS ARE TRANSPARENT THEY
KEEP GOOD RECORDS AND AVOID
INTERMINGLING STATE AND FEDERAL
FUNDS FOR EXAMPLE. MOREOVER
WHILE THE PROGRAMS ARE TO SOME
EXTENT. SELF SUSTAINING TWO
THREE OTHER FEES AND INTEREST
PAYMENTS AND SO FORTH- THEY DO
TYPICALLY- OVER THE LONG RUN
REQUIRE SOME- MAY REQUIRE SOME
GENERAL FUND SUPPORT SO YOU'LL
WANT TO CONSIDER WITH THE
APPROPRIATE LEVEL OF ON GOING
SUPPORT WOULD BE FOR THESE
PROGRAMS- THAT WOULD BE REQUIRED
FOR THEM TO CONTINUE AT A
CERTAIN LEVEL. AND SO THIS
CONCLUDES OUR INITIAL COMMENTS
BUT WE CAN DIG INTO ANY SPECIFIC
ASPECTS- MORE DEEPLY DEPENDING
ON YOUR LEVEL OF INTEREST. OKAY
THANK YOU FOR THAT- WE DON'T
HAVE AYONE ELSE CUED UP WE'RE
GOING TO BRING IT BACK TO
COMMITTEE SENATOR ROB DO YOU
HAVE ANY QUESTIONS. SENATOR ROTH
SAID NOW YOU KNOW WELL MISTER
WEATHERFORD YOU- SORT OF
SUGGESTED I LOVE IT YOU SAID
WHAT WE MIGHT NOT HAVE THE
CAPACITY. THE STATE WILL NEED TO
INCREASE THE CAPACITY AND HERE I
WAS THINKING WHERE DO WE GET TO
THE PLACE WHERE WE CAN OFFER
ZERO. 3% INTEREST LOANS. TO
SMALL BUSINESSES- THAT NEED THIS
KIND OF HELP GIVEN THAT THERE
ARE NUMBER OF ORGANIZATIONS THAT
ARE ALSO DOING THIS KIND OF WORK
ON A MUCH SMALLER SCALE THAT
HAVE VERY HIGH REPAYMENT- RATIOS
AND SO BUT THAT JUST. MIGHT BE
MY SOCIALIST SELF COMING. YOU
KNOW IF I IF I IF I CAN I THINK
ABOUT IT HIGHLIGHTS- THESE THESE
THIS BALANCING THAT THE AND YOU
KNOW THE TREASURER'S OFFICE I
THINK MIGHT BE A PROVIDES MORE.
DETAILED INFORMATION ABOUT THIS
BUT THE HIGHLIGHTS THAT THE
TRUTH THE CHALLENGES THAT THE
REQUIREMENTS IMPOSED BECAUSE
THERE'S THE LEVERAGE. PROVIDING
A 0% INTEREST RATE WOULD- MAYBE
NOT GET THE- THE RIGHT AMOUNT OF
LEVERAGE RATIO OR MIGHT- REQUIRE
THE STATE TO TAKE ON MORE RISK
TO MEET HISTORICALLY- BEEN
COMFORTABLE TAKING ON SO IT'S
ABOUT BALANCING THESE COMPETING
OBJECTIVES. NO I DON'T KNOW IF
ANYONE ELSE WANTS TO COMMENT ON
THAT QUESTION MISTER CALLUM YEAH
YEAH- I THINK ONE THING TO POINT
OUT TO YOU IS THAT THESE ARE
CREDIT SUPPORT PROGRAMS. SO
THEY'RE SUPPORTING BANKS BEING
ABLE TO PROVIDE CAPITAL THEY'RE
NOT ABLE TO BE DIRECT GRANTS TO
BANKS AND SO THERE STILL HAS TO
BE A FINANCIAL INTEREST IN THE
BANK MAKING LOAN- AND WHERE
WE'RE TRYING TO. MITIGATE RISK-
AND IN THAT MITIGATION AND
THEY'LL BE ABLE TO PROVIDE
CAPITAL THEY MAY LOWER THAT
INTEREST RATE- BUT GIVEN THAT
THEY ARE. YOU KNOW THEY OPERATE
ON- A MARGIN THEY HAVE TO CHARGE
SOME INTEREST AND SO OUR
PROGRAMS ARE CERTAINLY AIMED AT
TRYING TO LOWER THOSE. COSTS BUT
I ELIMINATING THEM ALL TOGETHER-
ISN'T REALLY AS A POSSIBILITY
WITH THIS PROGRAM. ALL RIGHT
MOVING BACK TO CAPITALISM. I'M
I. HAD A QUESTION THE- MISS
SERIN TALKED ABOUT. YOU'RE
WORKING WITH A LENDER COMMUNITY
AND ALSO OBVIOUSLY HOPING TO
EXPAND. THAT NETWORK- YOU KNOW
GIVEN WHAT COULD POTENTIALLY BE-
IN FRONT OF US. HAVE GIVEN ANY
THOUGHT TO. SPECIFICALLY WHAT
THAT KIND OF ALTERNATIVE OR
EXPANDED OUTREACH WOULD LOOK
LIKE I MEAN I ALWAYS AM ASKING
FOLKS TO CONSIDER- GROUPS THAT
YOU HAVEN'T NORMALLY WORKED WITH
IN THE PAST BECAUSE THEY CAN
HELP US CONNECT WITH FOLKS THAT-NEED THIS INFORMATION AND ALSO
NEED THE RESOURCES BUT AREN'T
TRAVELING IN THE CIRCLES THAT
THE STATE THINKS THEY SHOULD BE
SO I'M THINKING ABOUT YOU KNOW-
FRATERNAL AND SORORITY
ORGANIZATIONS- SMALL CHAMBERS-
EDCS X. FEDERA. CAN YOU JUST
SORT OF SHARE A LITTLE BIT ABOUT
WHAT YOU'RE YOU'RE OUT REACH
PLAN IT WOULD LOOK LIKE. MORE
DEEPLY ABSOLUTELY I'M WELL AND
LIKE I WAS SAYING I WANTED TO
USE THE TREASURER'S LOCAL AGENCY
INVESTMENT FUND THAT IS- SMALL-
AND LOCAL CITIES COUNTIES
SPECIAL DISTRICTS AND THERE ARE
TWO THOUSAND THREE HUNDRED
MEMBERS OF THAT FINE AND THAT'S
AN ACCESS TO ALL ACROSS THE
STATE AND SO WE WOULD LIKE TO
USE THAT THAT OPPORTUNITY- BUT
WE WILL BE HAVING LANGER ROUND
TABLES- GETTING THEIR INPUT AND
THEN GOING OUT TO INDUSTRY
EVENTS- AND BASICALLY JUST
GETTING OUT THERE MORE. I DON'T
KNOW- INTERNALLY I WOULD LIKE TO
TRY AND DO MORE YOU KNOW HIGHER
EIGHT EIGHT AND OUTSIDE-
ADVERTISING COMPANY I JUST
BECAUSE A LOT OF THE PEOPLE AT
THE DISADVANTAGED GROUPS THERE
AND THEY'RE NOT NECESSARILY TECH
SAVVY- OR THEY DON'T HAVE ACCESS
TO INTERNET AND SO I'D LIKE TO
BE ABLE TO REACH THOSE TYPES OF
PEOPLE. BUT YOU KNOW THAT'S
STILL SOMETHING THAT WE'RE
DISCUSSING INTERNALLY ACT I
DIDN'T ALISON MAY HAVE SOMETHING
MORE TO ADD ALISON. HI HI THIS
ALISON FRENCH TO BORROW AND SO-
FOR OUTREACH AND WE DEFINITELY
OTHER GROUPS THAT YOU'RE
MENTIONING- ALTHOUGH I WILL SAY
FOR JOURNEYS AND STORIES ARE NOT
ONE THAT WE SPECIFICALLY HAD ON
THE LIST THAT WE WILL HAVE THAT
BUT THE SMALL CHAMBERS THE-
SMALL BUSINESS DEVELOPMENT-
ENTITIES THAT ECONOMIC
DEVELOPMENT ENTITIES YES. I WE
SINCE WE ARE NOT A DIRECT LENDER
I AM WE REALIZE THAT. OUR
CONTACT IS NOT ALWAYS DIRECTLY
WITH THE BORROWERS BUT WITH
ENTITIES WHO INTERSECT BOTH
POSSIBLE BORROWERS AND POSSIBLE
LENDERS. AND SO I AM BACK TO
WERE REACHING. OUT TO IN TERMS
OF BORROWERS AND WE'RE VERY
EXCITED TO BE ABLE TO BE WORKING
WITH THE OFFICE OF SMALL
BUSINESS ABBOTT KIDS BECAUSE-
THEY CAN PROVIDE. CONTEXT TO
BORROWERS. OF WHAT THEY CAN HELP
OUR TO THEIR TO MAKE GOOD
DECISIONS ON WHAT PROGRAMS ARE
THE BEST FIT. FOR THEM- VERSUS
US WE ARE NOT FINANCIAL ADVISORS
OR BUSINESS ADVISORSSO YOU KNOW
BY DEFINITION WE WOULD BE SAYING
HEY WE HAVE THIS PROGRAM SO
WE'RE VERY EXCITED TO BE ABLE TO
WORK IN A CONTEXT WHERE THEY
WILL BE ABLE TO. MAKE A VERY
EDUCATED DECISION ABOUT WHAT IS
THE BEST FIT FOR THEM. OKAY
THANK YOU FOR THAT I ACTUALLY
THINK THAT- THESE GROUPS DO USE
THE INTERNET AND ARE TECH SAVVY
THEY'RE JUST NOT TRAVELING IN
THE SAME CIRCLES THAT STATE
AGENCIES ARE. AND SO I WOULD
JUST ASK- THAT YOU ALL TRY TO BE
AS INNOVATIVE AS CALL OFCOVERED
CALIFORNIA WAS WITH REALLY
TRYING TO GET OUT IN OUTREACH TO
THE COMMUNITY AND I CERTAINLY
UNDERSTAND THAT- YOU'RE NOT
GOING DIRECTLY TO BORROWERS BUT-
YOU KNO THERE ARE HUGE ENTITIES
THAT PARTNER WITH THE STATE OR
THAT PARTNER WITH OUR LOCAL-
THAT PARTNER WITH COUNTIES AND
ALSO CITIES. THEY HAVE HUGE
POOLS OF- SUBS AND VENDORS- AND
IF THERE'S A WAY TO MAYBE. THIS
INFORMATION WITH THEM I THINK
THE GOAL IS TO HAVE SORT OF A
CASCADING APPROACH WITH REGARDS
TO OUTREACH SO THAT YOU CAN
CONNECT WITH THOSE THAT ARE
DOING WORK- AND THEN ASKING THEM
TO THEN REACH OUT TO THE FOLKS
THAT THEY'RE WORKING WITH. I
WOULD ALSO ENCOURAGE YOU OUGHT
TO CONSIDER OUR FAITH BASED
PARTNERS THAT ARE DOING LOTS OF
WORK IN OUR CONNECTING WITH
SMALL BUSINESSES ACROSS ALL OF
OUR DISTRICTS- SO. WE SHOULD
JUST TRY TO BE INNOVATIVE IS ALL
I'M SAYING. THIS IS REALLY GOOD
. ALL RIGHT NOW WE'RE GOING TO
MOVE ON THE ISSUE SIXTEEN
BANKING OPERATIONS ITEM
PROCESSING SOFTWARE UPGRADE THAT
SOUNDS EXCITING. I THINK WE'RE
GONNA HEAR FROM DAVID TO WORK
TODAY. MORNING MANAGER GOOD
MORNING I'M DAVID TO WORK DAY-
THE DIRECTOR OF INFORMATION
TECHNOLOGY YEAR AFTER TREASURE'S
OFFICE. IN THE STATE TREASURER'S
OFFICE IS REQUESTING EXPENDITURE
AUTHORITY AND CORRESPONDING
FUNDING FOR ONE TIME COST OF SIX
HUNDRED TWENTY FIVE THOUSAND A
PREVIOUS CHECK PROCESSING
SOFTWARE THIS IS MISSION
CRITICAL TO THE DEPARTMENT AND
ONGOING COST OF TWO HUNDRED AND
SEVENTEEN THOUSAND DOLLARS FOR
INCREASED ANNUAL SUPPORT COST.
FOR THE SOFTWARE ON DECEMBER
THIRTY FIRST OF THIS YEAR THE
SOFTWARE USED SPL WILL REACH ITS
END OF LIFE IN ACCORDINGLY THE
VENDOR WILL END ITS SUPPORT.
JUST DAS IT'S CRITICAL THAT THE
OSTEO UPGRADE TO THE MOST
CURRENT VERSION SUPPORTABLE
VERSION TO ENSURE THAT WE CAN
CONTINUE TO PERFORM YES
RESPONSIBILITIES CASH MANAGEMENT
WITHOUT. INTERRUPTION TO SERVICE
. IF YOU HAVE ANY WORK. AND
THANK YOU VERY MUCH ARE WE GOING
TO HEAR FROM ANDRE RIVERA NO I'M
THESE MIGHT BE JUST AVAILABLE
FOR TECHNICAL ASSISTANCE CORRECT
MISTER RIVERA'S AVAILABLE FOR
THE BUSINESS SIDE OF QUESTIONS
AND I'M AVAILABLE FOR ANY
TECHNICAL. OKAY WELL THEN I
THINK WE'RE GOING TO GO RIGHT
TO- ELIADES OFFICE YOU LIKE TO
COMMENT- WE HAVE NO CONCERNS-WITH THIS ITEM NOT ENTER OKAY
DEPARTMENT OF FINANCE- JIM DOYLE
DEPARTMENT OF FINANCE AND- WE
HAD NO CONCERTS. OKAY THANK YOU
SENATOR ROB ANY QUESTIONS FOR I
HAVE NO CONCERNS AS OF THIS TIME
EITHER WE'RE GOING TO LIST AS
HOLD OPEN AND MOVE ON TO ISSUE
NUMBER SEVENTEEN WHICH IS POOL
OF MONEY. INVESTMENT ACCOUNT
OPERATIONS- MISS SUCH. THE
COLLYMORE. I HOW DO I SAY IT.
YOU GOT IT CORRECTED THE KELLY
MORE. THAN. THANK YOU GOOD GOOD
MORNING- I AM CHRISTENSEN KELLY
MORAN THE INVESTMENT DIRECTOR
HERE AT THE AT THE STATE
TREASURER'S OFFICE AND- WE ARE
REQUESTING A FULL TIME PERMANENT
POSITION AT THE ASSOCIATE LEVEL
TO SUPPORT THE WORKLOAD
ASSOCIATED WITH A SIGNIFICANT
INCREASE IN THE AMOUNT OF
SECURITIES HELD IN THE MONEY
INVESTMENT ACCOUNTS. OVER THE
PAST FIVE YEARS THAT WOULD MONEY
INVESTMENT ACCOUNT HAS STEADILY
GROWN FROM SEVENTY SEVEN BILLION
IN TWO THOUSAND SEVENTEEN TO
APPROXIMATELY TWO HUNDRED AND
TWENTY SIX BILLION AS OF TODAY.
AS AS A RESULT OF A NUMBER OF
SECURITIES TRANSACTIONS
ASSOCIATED WITH THIS THIS MARCH
INCREASE IN CASH HOLDINGS- HAS
GROWN SUBSTANTIALLY. WE
CURRENTLY HAVE FIVE PERMANENT
STAFF MEMBERS WHICH INCLUDE TWO
MANAGERS THAT HANDLE THE
SETTLEMENT OF THE ELITE SECURITY
PURCHASES FOR THE DIVISION.
WHICH ON ANY DAY CAN RANGE FROM
THE PURCHASE. OF HUNDREDS OF
MILLIONS TO BILLIONS OF DOLLARS
WORTH OF INVESTMENTS. I. IT IS
CRITICAL THAT- THEIR TASK
BEHEADED WITH EXTREME CARE AS
THEY ARE CALCULATING VERIFYING
INTEREST PRICE DISCOUNT ACOSTA
THE SECURITIES TRANSACTIONS AND
FOR VARIOUS DIFFERENT TYPES OF
INVESTMENTS. AND THE INITIAL
WORK THAT HAS TO BE COMPLETED
FOR THIS ALSO HAS TO BE DONE
UNDER STRICT DEADLINES IN ORDER
FOR THE PURCHASES TO BE
SUBMITTED TO THE STATE
COMPTROLLER'S OFFICE BY TEN
THIRTY IN THE MORNING SO THAT
THE TRANSACTIONS CONSOLED BY
NOON EACH DAY WHICH IS WHAT THE
FEDERAL WINDOW CLOSES FOR THE
DELIVERY OF SECURITIES. WE HAVE
THE DIVISION HAS MANAGE WITH THE
EXISTING STAFF OVER THIS PERIOD-
BY HAVING MANAGERS WILL GO. NON
MISSION CRITICAL PROJECTS TO
ASSUME ANALYTICAL DUTIES THAT
WOULD NORMALLY BE HANDLED BY
STAFF OTHER STAFF. WE'VE ALSO
IMPLEMENTED THE PROCESSES AND
WORK WITH THE RIGHT TEAM
DIVISION TO USE STREAMLINE THE
WORKLOAD. AS OF THE MIDDLE OF
TWENTY TWENTY ONE WE ALSO HIRED
A PART TIME. OR HALF TIME I
SHOULD SAY TEMPORARY STAFF AND
WE ALSO HAD TO REDUCE OR DENY
TIME OFF FROM STAFF BECAUSE OF
THE INCREASED WORKLOAD. I WOULD
YEAH WITH THE RESOURCES THANKS
THETHIN WERE OBVIOUSLY GREATLY
CONCERNED ABOUT STAFF TURNOVER
BURNOUT AND ALSO THE POTENTIAL
FOR CALCULATION ERRORS AS WELL
AS JUST MISTAKES THAT COULD COST
THE STATE FUNDS. ADD THIS NEW
POSITION WOULD ALLOW US TO- HAVE
OUR OPERATIONS LOWER EFFICIENTLY
ALLOW FOR CROSS TRAINING ALSO
BACK UP AT THE EXISTING STAFF.
IT ALSO WOULD ALLOW THE
MANAGER'S RESUME THEIR DUTIES-
THAT THEY'VE BEEN KIND OF
PUSHING TO THE SIDE WHICH WOULD
ALLOW FOR IMPROVING OUR
PORTFOLIO APPLICATION AS WELLAS
FOR EXPANDING THE INVESTMENT
OPTIONS THAT WE CURRENTLY- USED.
IN THE PORTFOLIO SO I THANK YOU
FOR YOUR CONSIDERATION AND I'M
HAPPY TO ANSWER ANY QUESTIONS
YOU MAY HAVE OKAY GREAT THANK
YOU AND NOW WE'RE GOING TO MOVE
TO THE LA O'S OFFICE. FOR ANY
COMMENTS- WE DON'T HAVE ANY
CONCERNS. ALL RIGHT DEPARTMENT
OF FINANCE THE COMMENT- JIM
DOYLE BERMAN FINANCE- THEY'LL
COME. OKAY WE'RE GONNA BRING IT
BACK TO MEMBERS OF THE COMMITTEE
SENATOR RAFI QUESTIONS
QUESTIONS. OKAY AND I TO HAVE NO
QUESTIONS BUT WE WILL BE HOLDING
THIS ITEM OPEN SO THANK YOU VERY
MUCH AND WE WILL BE MOVING ALONG
TO ISSUE NUMBER EIGHTEEN. YOU'RE
WELCOME TO LEGAL WORKLOAD
GROWTH. I DO WE HAVE MISS-
HERRIMAN. YES GOOD MORNING MADAM
CHAIR SENATOR ROTH I'M NOT IN MY
NAME IS JEANNIE HERMAN THE CHIEF
FINANCIAL OFFICER OF FRENCH I
TRANSPORT. ISSUE EIGHTEEN RELATE
TO ACTIVITIES BUDGET CHANGE
PROPOSAL REQUESTING RESOURCES OF
FOUR POINT SEVEN MILLION
DOLLARS. INCLUDING AN ONGOING
FUNDING SOURCE FOR SIXTEEN NEW
PERMANENT POSITIONS ASSOCIATED
WITH THE GROWTH IN CASES RELATED
TO APPEALS APPEALS FILED A
TAXPAYERS WITH THE OPPOSITE.
OFFICIALS AS WELL AS FUNDING FOR
TEN POSITION UPGRADES OF
UNFUNDED NEEDS FOR STAFF
SALARIES RELATED TO INCREASING
COMPLEXITIES IN THE WORKLOADS.
MANAGED BY OUR ATTORNEY. ALSO IN
ROUTE. THAT OUR HIGHEST CLASS OF
THE OF ITS BECAUSE- MANY THE-
ARE TYPICALLY PAID SALARIES OF
THE TOP RANGE OF THEIR PEEKSKILL
VERSES OF THE FIRST IN THE MID
FUNDING STEP LEVEL. THAT HAVE TO
BE RECEIVED WITH THESE POSITIONS
WITH THESE NEW RESOURCES AND
FUNDING AUGMENTATION OF TO BE
ABLE TO BE ABLE TO ADDRESS YOUR
WORKLOADS PRESENTING. ENSURE
STOCK OR THE APPROPRIATE COST
LEVEL FOR WORK THEY PERFORM. ON
THAT AFTER BEACON HIGHER
EXPEDITIOUSLY WHICH IS
ARTIFICIALLY HOLDING VACANCY
SOMETHING TO COVER UNFUNDED
SORRY. HOW TO ANSWER ANY YOU MAY
HAVE. ALL RIGHT THANK YOU VERY
MUCH WE'RE NOW GOING TO MOVE TO
THE LA O'S OFFICE ANY COMMENT.
NO WE HAVE NO CONCERNS WITH THIS
ITEM ARE. VERY GOOD DEPARTMENT
OF FINANCE ANY COMMENT. WITH
THEM IN SUPPORT OF FINANCE- WE
HAVE NO ADDITIONAL COMMENTS
WILL. BE GLAD TO ANSWERING
QUESTIONS. THANK YOU VERY MUCH
I'LL BRING IT BACK TO THE
COMMITTEE SENATOR ROB DO YOU
HAVE ANY QUESTIONS OR COMMENTS
OR QUESTIONS. OKAY AND NEITHER
DO I THIS IS A HOLD OPEN ITEM
THANK YOU VERY MUCH MISS
HARRIMAN OUR GOING TO MOVE TO
ISSUE NUMBER NINETEEN. OF THE
VITA PROGRAM WE CAN HEAR FROM
OUR- BUREAU DIRECTOR DO WE HAVE
. T. LONG. YES GOOD MORNING MY
NAME CORRECTLY IT'S TABLE AS-
ALL RIGHT A YEAR UP NO WORRIES-
MY NAME IS TAYLOR- AND TO
FINANCE MANAGED DIRECTOR. ISSUED
IS A TO BE BUDGET PROPOSAL FOR
THE VOLUNTEER INCOME TO OR VITA
PROGRAM SO I HAVE ISSUE NINETEEN
I JUST WANNA BE CLEAR FOR THE
ARTICLE SORRY. STINKING OKAY NO
WAY NO NO YOU'RE A I DIDN'T MY
LITTLE NO THEIR APP. FOR THAT
HOW WOULD YOU RATE OF ONE POINT
TWO MILLION FOR FISCAL YEAR
TWENTY TWO TWENTY THREE. TO ITS
THAT FIVE LIMITED TERM POSITIONS
ARE SET TO EXPIRE ON JUNE
THIRTIETH OF TWENTY TWENTY TWO.
BY ONE YEAR AND TO ALLOW FOR
REIMBURSEMENT COSTS INCURRED BY
THE DEPARTMENT OF COMMUNITY
SERVICES AND DEVELOPMENT. FOR
ADMINISTERING THE CALIFORNIA
EARNED INCOME TAX CREDIT OR
COPYRIGHT TO SPEAK WITH. THESE
RESOURCES WILL UP TO BE TO HAVE
BEEN BY AT THE- LEVELS IN ORDER
TO SUPPORT THE TEN MILLION
DOLLARS IN GRANT FUNDING. THAT'S
BEEN APPROPRIATED FOR TWENTY TO
TWENTY THREE TO INCREASEFREE
TAX PREPARATION AS WELL AS
EXPAND MARKETING AND OUTREACH OF
COUNT YET YOU SEE. THESE
RESOURCES- PROVIDE TRAINING TO
INDIVIDUAL VOLUNTEERS PROVIDE
TECHNICAL SUPPORT TO BY THE
SITES AS WELL AS PARTICIPATE IN
OUTREACH MEETINGS. THIS FUNDING
IS CRITICAL TO ENSURE THAT HAVE
TO BE CAN SUPPORT THE INCREASE
FIVE SERVICES ARE BEING
PERFORMED. ACROSS THE STATE BY
GRANTEES ARE USING UP WHICH
FUNDS. AS NOTED IN THE PROPOSAL
AS TO BE SURPASSES FOR ONE TIME
AUGMENTATION BECAUSE A PROPOSED
BUDGET. FOR FISCAL YEAR TWENTY
TWO TWENTY THREE INCLUDES ONE
TIME OUT WHICH GRANT FUNDING.
HOWEVER OF GRANT FUNDING IS
EXTENDED OR MADE ON GOING. HAVE
TO BE WOULD NEED RESOURCES TO
MATCH THE DURATION OF THE CLASS
ON. I'M THANK YOU FOR YOUR TIME.
HAPPY TO ANSWERING YOU MAY HAVE
OKAY GREAT NOW WE'LL HEAR FROM
THE L. IS ALL L. A. O.'S. OFFICE
DO YOU HAVE ANY COMMENT. WE DO-
INTO EIGHTEEN WITHOUT. THE E. I.
T. C. SO- WHETHER FOR THE LATEST
ANALYST'S. AND IN TWENTY WE
ABOUT. THE HOW I. T. OUR AND
EDUCATION. AND AMONG OUR CALL.
WE SUGGEST THAT LED. MAY WANT TO
PRIOR FUNDING TO EXPAND
AWARENESS OF AND ACCESS TO. THE
STATE'S FREE FILING OPTIONS SUCH
AS CABALLERO AND THE VITA
PROGRAM. TO INCREASE THE USE OF
THE STATE TAX- THE STATE ATC
CREDIT AMONG HOUSEHOLDS THAT
ALSO CLAIMED THE- THE CURRENTLY
CLING TO FEDERAL EITC BUT NOT
THE STATE CREDIT. WHILE WE DON'T
HAVE A RECOMMENDATION REGARDING
THE SPECIFIC I'M AFRAID OF YOU
WE DON'T HAVE CONCERNS EITHER
BUT IN CONSIDERING THE MERITS OF
THIS PROPOSAL. YOU COULD ASK OF
THE F. TO THE ABOUT THE USE OF
CURRENTLY AVAILABLE FREE TAX
PREPARATION ASSISTANCE SERVICES
BY THE INTENDED FILERS. SO FOR
EXAMPLE OF THE BY THE STATE'S
ALWAYS BUSY OR SOME SITES IN THE
UTILIZED. AND IF THE LEGISLATURE
NOT ALWAYS BUSY YOU COULD ASK
WHAT ACTIONS THE ADMINISTRATION
WILL TAKE TO EXPAND THE SERVICES
IN A WAY THAT WILL BE MOST
CONVENIENT FOR THOSE FILERS THAT
YOU NEED THAT ASSISTANCE. THANK
YOU FOR THAT. DEPART OF FINANCE
AND ECONOMIC. SINCE OUR
PERFORMANCE WE HAVE NO
ADDITIONAL. OKAY THANK YOU WILL
BRING IT BACK TO MEMBERS OF THE
COMMITTEE SENATOR ROB DO YOU
HAVE ANY QUESTIONS OR COMMENTS
NO QUESTION. OKAY AND I MISSED
LONG I'M GOING TO HAVE YOU
RESPOND TO THE L. A. O.'S
QUESTIONS BECAUSE I THOUGHT THEY
WERE REASONABLE. THANK YOU FOR
THE OPPORTUNITY TO RESPOND- AND
I APPRECIATE THE QUESTION SO AS
FAR AS- MISTER WEATHERFORD IS
CORRECT ON A DAY TO DAY BASIS-
SOME SITES MAY POTENTIALLY BE
UNDER UTILIZED OVER US AT THE
SAME TIME OTHER SITES ARE ARE
HEAVILY IMPACTED. SO WE DO
BELIEVE THAT YOU KNOW OVER THE
LONG RUN- THE SITES ARE
PROVIDING VERY VALUABLE SERVICES
AND SOMETHING THAT WE DO- DO
WHAT HAVE TO BE IS WHEN YOU
VISIT OUR WEBSITE. DEVIDED
SERVICES A VERY CLEARLY- LABELED
AND IN ADDITION AND THERE'S ALSO
A SITE LOCATOR SO FOR EXAMPLE-
IF I'VE LEARNED TO LIVE IN ZIP
CODE NINE FIVE EIGHT FOUR THREE
EIGHT CONTENT THAT'S OF CODE AND
LET ME KNOW- YOU KNOW WHAT SITES
ARE OPEN AND AVAILABLE THAT DAY
AND IF THERE ARE ANY
APPOINTMENTS. ARE AVAILABLE- SO
MANY OF THE SITES TO OFFER AN
APPOINTMENT TIME SO THAT IS MORE
CONVENIENT FOR FOLKS THAT ARE
SEEKING THE SERVICES SO
HOPEFULLY- DOUBLE BALANCE OUT-
SOME OF THE UNITED OF THE SITE.
TO- MAXIMIZE- AND THESE ARE SAYS
SOMETHING ELSE OF WE DO TO DO- I
HOPE WILL RAISE ON NEXT YEAR-
PUBLIC PROFILE- FROM. IS THE
RESULT OF OUR BUS. PASS BASIC
ARE CHOPPER- MOBILE TO ASSIST
PROGRAM AND THAT'S REALLY OUR
TIME TO ABLE TO- HELP YOU KNOW
WHAT ARE AT IN ORDER FOR SOME OF
THE SERVICES. IN ADDITION. IN IN
TERMS OF THE EXT. YOUR LIFE-
OVER. WE ARE STARTING-
STAKEHOLDER IN ORDER TO REALLY.
LOOK AT WHAT IS THE- FOR PEOPLE
. OUT TO CURRENT VITA- USER OF
THE TAKEN. OF TO REALLY WHAT IT
. SOME SORT OF. AND WHAT'S
LEADING TO COME TO USING IT. IN
ORDER TO LEVERAGE SOME OF THOSE
- YOU'RE NOT AND GET NOT GET
FILLED UP CAN. USE THAT TO TRY
TO TRY OR FOR- TO USE. SERVICE
OKAY THANK YOU WHAT IS THAT YOU
. IT TROUBLED UP AND DOWN STATE
. OKAY I'VE NEVER SEEN A BUS AND
NEEDS TO COME TO THIS. ARE YOU
TO MAN WORKING INCOME- GIVEN THE
CHANGES RELATETO YEAR T. C. A
N. Y. C. T. C. THANK YOU THAT-
QUESTION. ARE WE DID NOT AND THE
AGE AND AS- KIND OF BEGAN TO
UNDERSTAND THE JANUARY BUDGET
PROPOSALS ON BOTH THE IDC AND-
YCT EXPANSION. WE DID IDENTIFY%
SOME RESOURCE GAPS AND WE DO
CONTINUE TO WORK WITH THE
ADMINISTRATION ON RESOURCES THAT
WOULD BE NEEDED. TO SUPPORT
NECESSARY WORKFLOW CHANGES. ALL
RIGHT WELL WE DID HAVE A HEARING
ON THAT EARLIER IN THE YEAR AND
THE TWO WORDS THAT COME TO MIND
FROM THE HEARING ARE HOT MESS
LEAVING SO MUCH MONEY AN
OPPORTUNITY ON THE TABLE IS
NEVER A GOOD THING FOR WORKING
FAMILIES WHO REALLY SHOULD BE
GETTING THESE CREDITS. SO I SAY
THAT BECAUSE I DO THINK WE HAVE
AN OBLIGATION TO BE AS EXPANSIVE
AS POSSIBLE WITHOUT WERE OUT
REACHING. AND HOW WE'RE MAKING
SURE THAT FOLKS ARE ABLE TO
ACCESS THE PROGRAMS AND THE
OPPORTUNITIES THAT WE HAVE
AVAILABLE. I DON'T KNOW IF FDB
IS ON THE SOCIALS BUT IF YOU ARE
TRYING TO HAVE A BUS AND GOING
OUT THERE AND MAKING SURE THAT
FOLKS KNOW THIS IS AVAILABLE-
IT'S IMPORTANT MEET FOLKS WHERE
THEY ARE THERE'S MISINFORMATION
THAT'S OUT THERE. AND THEN
THERE'S JUST A VOID OF
INFORMATION SO THE THESE ARE
REALLY IMPORTANT PROGRAMS- THIS
IS A HOLD OPEN ITEMS I WANT TO
THANK YOU ALL FOR THAT WE'RE NOW
GOING TO MOVE ON TO ISSUE NUMBER
TWENTY. PUTTING WEALTH TO WORK
TAX PROPOSALS THIS IS
INFORMATION ONLY AND I BELIEVE
WE ARE ONLY GOING TO BE HEARING
FROM THE L. A. O.'S OFFICE AT
THIS TIME IN MR ALAMO IS BACK.
MORNING HELLO THE L. A. L. IS
TWENTY. CONSISTS FOUR TAX
PROPOSALS THAT ARE BUILT INTO
THAT THE SENATE. BUDGET PLAN-
JUST BRIEFLY DESCRIBE EACH OF
THEM. THE FIRST OF TAX PROPOSAL.
WOULD SET A TO A TWENTY FIVE
DOLLAR MINIMUM FOR THE STATE'S-
EARNED INCOME TAX CREDIT-
CURRENTLY. MANY CLAIMANTS
RECEIVE OP US SOMEWHAT SMALL
COUNTY ITC. UNDER A HUNDRED
DOLLARS. EACH YEAR AND THIS
PROPOSAL WOULD SET A MINIMUM SO
ANYONE CURRENTLY. RECEIVING A-
ITC AMOUNT UNDER TWO TWENTY FIVE
DOLLARS BUT INSTEAD RECEIVED. TO
OUR TWENTY FIVE DOLLARS CALIFIA
ITC YEAR- RELATE TO THE- ISSUE-
THAT WE JUST HEARD. ON THE
SENATE BUDGET PLAN ALSO INCLUDES. A FIVE. WHEN TO PROVIDE YEAR
ROUND FUNDING FOR. INCOME TAX
ASSISTANCE SERVICE RATHER THAN
FOR YEAR FUNDING- TRY THIS. ON
COMMITTEE BASED ORGANIZATION
THAT THAT DO THIS FOR. THESE
ITEM IN ABSENT BUDGET PLAN
RELATED TO ITS POLICY PROPOSED.
I A PROPOSED TO END THE STATE
RUN. YOUNG CHILD TAX CREDIT
WHICH IS CURRENTLY SET AT A
MAXIMUM OF ONE THOUSAND DOLLARS
PER YEAR AND THE PROPOSAL WOULD
INCREASE THAT TO FIFTEEN HUNDRED
DOLLARS A YEAR. THE THIRD ITEM
ON THE SENATE BUDGET PLAN. WOULD
INCREASE THE STATE'S
NONREFUNDABLE RENTERS TAX
CREDIT- IT'S CURRENTLY AVAILABLE
TO RENTERS A SIXTY DOLLAR CREDIT
AGAINST THE PERSONAL INCOME TAX
LIABILITY FOR SINGLE FILERS AND
A HUNDRED TWENTY DOLLAR CREDIT.
AGAINST THEIR LIABILITY FOR
JOINT FILERS ON AND THE SENATE
PLAN WOULD INCREASE THAT TO A
THOUSAND DOLLARS FOR JOINT
FILERS FIVE HUNDRED DOLLARS. OUT
FOR SINGLE FILERS THEY WILL ALSO
LINK THAT CREDIT AMOUNT TO
INFLATION- TO INCREASE OR
DECREASE EACH YEAR ACCORDINGLY-
THE CURRENT AMOUNT IS. IS NOT
TIED TO INFLATION. AND THE FINE
COMPLY OF THE SENATE- BUT PLAN.
HE SAYS IS UP OPERA TO SOME
EXPAND- THE GOVERNOR'S CURRY.
CURRENTLY PROPOSED TAX PAYMENT
RELIEF PROPOSAL- AND-
SPECIFICALLY IN JANUARY THE
GOVERNOR PROPOSED TO PROVIDE
SOME ADDITIONAL FLEXIBILITY TO
LOW AND MIDDLE INCOME TAXPAYERS
WHO FACE CHALLENGES NOT MEETING
THEIR TAX DEADLINES DURING THE
PANDEMIC ON THE SENATE PLAN WILL
PROVIDE SOME ADDITIONAL PENALTY
ABATEMENT AND ADDITIONAL
FLEXIBILITY TO THE FRANCHISE TAX
BOARD- TO PROVIDE SOME RELIEF
FROM. COLLECTIONS AND OTHER
MEANS OTHER WOULD TYPICALLY TAKE
PLACE UNDER EXISTING LAW OFFER
THESE FAMILIES OPT FOR PERIODS
OF- NON PAYMENT DURING THE
PANDEMIC ON THOSE THE FOUR
PACKAGES- HOW DID IT TAKES OF
DESCRIPTIVE QUESTIONS- BUT
DETAILS ARE STILL THROUGH. IN
THE- AND I WOULD HAVE BURKE JUST
FOR QUESTIONS THANK YOU OKAY
UNDERSTOOD- SENATOR. HAVING YOUR
QUESTION. SO YOU KNOW WHAT MR. I
TO DO NOT HAVE ANY QUESTIONS
THERE WAS BACKGROUND THAT WAS
PRESENTED AND AS YOU MENTIONED
THINGS ARE STILL BEING FLESHED
OUT AND SO I'M SURE WE WILL HEAR
MORE ABOUT IT BUT THANK YOU FOR
AT LEAST PROVIDING US WITH A
FRAMEWORK. FOR WHAT'S TO COME.
WE ARE NOW GOING TO MOVE TO ITEM
NUMBER. TWENTY ONE WHICH IS
PUTTING WEALTH TO WORK YET AGAIN
AND THIS TIME SUPPORTING
CHILDREN IN FOSTER CARE. AND
THOSE IMPACTED BY KOBE MR ALAMO
YOU ARE UP AGAIN. THANK YOU.
TWENTY ONE- RELATES TO THE WHOLE
CARE ACT- THE SENATE BUDGET
PLANS ARE PROPOSES TO SET UP
SAVINGS ACCOUNTS FOR CHILDREN
WHO WHO LOST A PARENT TO- THAT
TO COVER NINETEEN AND FOR
CHILDREN IN THE IN THE FOSTER
CARE SYSTEM- AND THESE INITIAL
SAVINGS ACCOUNTS WOULD RECEIVE A
DEPOSIT. OF FOUR THOUSAND
DOLLARS FOR EACH CHILD UNDER THE
AGE OF. OUR TENS OF YOUNGER
CHILDREN AN EIGHT THOUSAND
DOLLAR INITIAL DEPOSIT FOR
CHILDREN. OVER THE AGE OF TEN
BOB THE TREASURER'S OFFICE WOULD
MANAGE THE DEPOSITS AND ONCE
CHILDREN- BECOME ADULTS THEY
WOULD BE ABLE TO ACCESS THE
FUNDS UP FOR THEIR YEARS AGAIN
THIS IS A COMPONENT OF THE
SENATE BUDGET PLAN AND- SIMPLY
PROVIDING SORT OF A DESCRIPTIVE
OVERVIEW OF THE PORTAL THANK
YOU. THANK YOU SENATOR ROTH ANY
QUESTIONS OF COURSE. NO AND I
JUSTWANT TO. I USED TO SAY I
WANT TO REITERATE IT I THINK IS
A IMPORTANT THESE ARE INTEREST
BEARING ACCOUNTS. HI YES THAT'S
RIGHT MONTR. OKAY IN FOUR
THOUSAND IF YOU'RE UNDER TEN.
EIGHT THOUSAND IF YOU'RE OVER
TEN I THINK IT'S SO IMPORTANT TO
RECOGNIZE HOW MANY YOUNG FOLKS
HAVE SUFFERED BECAUSE OF COBIT
BECAUSE A PARENT OR GUARDIAN IS
PASSED AWAY. AND THEN THOSE THAT
ARE IN- OUR FOSTER CARE SYSTEM
SO I LOVE THAT WE'RE TRYING TO
ALSO FIGURE OUT WAYS TO MIRROR.
WHAT WE'RE DOING HERE WITH
THINGS LIKE UPI AND WORKING TO
ALLEVIATE POVERTY SELF WE WILL
ALSO WAIT FOR MORE INFORMATION
ON THIS BUT THANK YOU SO MUCH-
AND NOW WE WILL MOVE ON TO ISSUE
NUMBER. TWENTY TWO WHICH IS A
LOCAL GOVERNMENTS INSANE ABILITY
FIND GO BUSINESS HERE- I HAVE
QENA. HERERA DID I SAY IT
CORRECTLY THANK YOU MADAM
CHAIRMAN IS KIND OF. RIGHT KIND
OF PEREIRA WELL YOU'RE UP THANK
YOU VERY MUCH MY NAME IS KIND OF
RARE SENIOR ADVISER FOR BUSINESS
DEVELOPMENT IN THE GOVERNOR'S
OFFICE OF BUSINESS AND ECONOMIC
DEVELOPMENT I THANK YOU FOR THE
OPPORTUNITY TO DISCUSS THE
TRAILER BILL LANGUAGE RELATED TO
THE LOCAL GOVERNMENT BUDGET
SUSTAINABILITY FONG. OUR GOAL
WITH THIS PROGRAM IS TO
ESTABLISH A PROGRAM DIRECTED TO
DIVERSIFICATION OF LOCAL
REVENUES. VIA RESOURCES FOR
PROJECTS ENABLING FUTURE
ECONOMIC DEVELOPMENT PRIORITIES
AS IDENTIFIED BY LOCAL
GOVERNMENTS. AND A HIGH LEVEL
THIS MEANS THAT OUR TEAMS WILL
ENGAGE WITH THE LOCAL COUNTY
GOVERNMENTS TWO HUNDRED AND
THEIR PRIORITIES IN EVERY
INDUSTRY DIVERSIFICATION AND THE
CREATION OF MULTIPLE APERTURE
THESE THROUGH LEVERAGING FEDERAL
FILES. WHILE NOT EXPLICITLY AS A
REVENUE REPLACEMENT PROGRAM FOR
CRITICAL SERVICES THIS IS
INTENDED TO DIRECT FUNDS TO
PROJECTS THAT COULD LANGUISH DUE
TO LOCAL FUNDING AVAILABILITY.
THIS FUNDING IS INTENDED TO BE
DIRECTED TO THOSE COUNTIES
EXPERIENCING HIGHER LEVELS OF
UNEMPLOYMENT POVERTY USING
ALREADY ESTABLISHED INDICATORS
TO THE COUPLE IT'S PROGRAMS.
THAT HAVE ALREADY IDENTIFIED
ROUGHLY TEN COUNTIES CURRENTLY.
ARE INTENDED TO IDENTIFY
PROJECTS THAT WILL BREED LONG
TERM OPPORTUNITIES FOR INCREASE
LOCAL REVENUES LESSENING THE
OVERALL VARIABILITY OF REVENUES-
WITH THEIR IMPACTS ON VERBAL
SERVICES. THE RESULTS OF THIS
PROGRAM SHOULD BE STRONGER AND
MORE RESILIENT LOCAL GOVERNMENTS
BUT BECOMING LESS RELIANT ON THE
OVER CONCENTRATION OF SINGLE
INDUSTRY PRACTICE AND EXPANDING
LEVERAGE BY COUPLING FUNDS WITH
FEDERAL GRANT PROGRAMS. I THANK
YOU FOR THE OPPORTUNITY TO
PRESENT PROGRAM AND I LOOK
FORWARD TO ANSWERING ANY
QUESTIONS OKAY GREAT NOW WE'D
LIKE TO HEAR FROM THE LA ALL
THOSE OFFICE IF YOU HAVE ANY
COMMENTS. HI WHETHER FOR
LEGISLATIVE. OFFICE AND- I JUST
WANT TO START BY REITERATING
OUR- PREVIOUS COMMENTS THAT WE
MADE AT THE SUBCOMMITTEE HEARING
AND IN FEBRUARY WHEN WE NOTED
THAT THE- IT WAS UNCLEAR HOW THE
PROPOSAL WOULD RELATE TO. THE
STATE'S OTHER EFFORTS TO
ADDRESS. THE VARIOUS ECONOMIC
ISSUES RUNNING THE TRANSITION TO
AWAY FROM FOSSIL FUELS- IN PART
THIS WAS DUE BECAUSE THE TRAILER
BILL LANGUAGE NOT YET FINALIZED
IN PART BECAUSE THE STATE'S
OTHER EFFORTS ARE STILL BEING
DEVELOPED- WE NOTED PREVIOUSLY
ALSO THAT. THE ADMINISTRATION OF
PROVIDED A CLEAR JUSTIFICATION
FOR THE SPECIFIC DOLLAR AMOUNT
TO THE TIMING OF THE FUNDING
THAT WAS REQUESTED- AND SO I
THINK IT JUST OVERALL WE SHARE
THE CONCERNS RAISED BY YOUR
STAFF THE- COMMENTS IN THE-
COMMITTEE AGENDA. THE TRAILER
BILL LANGUAGE BEFORE YOU- MAY
LACK A CLEAR FOCUS- IT IT ALSO-
PROVIDE A GREAT DEAL OF LATITUDE
TO GO BUSINESS IN DETERMINING.
THE GRANT CRITERIA- SO WE KNOW
THAT THERE'S NO URGENCY TO ACT
ON THIS PROPOSAL BECAUSE THE
ADMINISTRATION IS NOT REQUESTING
FUNDING FOR THE CURRENT BUDGET
YEAR. THE REMINDER OF THE
PROPOSAL BEFORE YOU IS
REQUESTING FUNDING FOR A HUNDRED
MILLION DOLLARS IN TWENTY TWENTY
THREE TWENTY FOUR HUNDRED
MILLION DOLLARS IN TWENTY TWENTY
FOUR TWENTY FIVE. AND TWELVE
HUNDRED AND FIFTY MILLION
DOLLARS A TWENTY FIVE TWENTY
SIX. SO WE RECOMMEND YOU REJECT
THE PROPOSAL WITHOUT PREJUDICE
IN ORDER TO TAKE MORE TIME. TO
WORK WITH THE ADMINISTRATION
LOCAL GOVERNMENTS AND OTHER
STAKEHOLDERS TO REFINE THE
DETAILS OF THE PROPOSAL- ALSO
TAKING ADDITIONAL TIME WILL
ALLOW YOU TO CONSIDER THIS
PROPOSAL WITH THE BENEFIT OF
HAVING MORE INFORMATION ABOUT
THE STATE'S. FISCAL CONDITION
LATER THIS YEAR NEXT. THANK YOU
FOR THAT I FELT LIKE I YOU KNOW
INTERRUPTED YOU ALL RIGHT NOW.
TO DEPARTMENT OF FINANCE DO YOU
HAVE ANY COMMENT. MORNINGTON
WEBER DEPARTMENT FINANCE JUST
JUST A QUICK COMING TO SAY THAT
WE FOR THE GOVERNOR TO PROPOSAL
INCLUDED TRAVEL LANGUAGE- ANY
INTENTION THAT IT HAS A
PROVIDING ASSISTANCE TO LOCAL
GOVERNMENTS THAT ARE CURRENTLY
STRUGGLING. THANK YOU. THANK YOU
NOW WE'RE GOING TO BRING IT BACK
TO MEMBERS OF THE COMMITTEE
SENATOR IF YOU HAVE ANY
QUESTIONS. ALL RIGHT WELL I YOU
KNOW I'M GOING TO A SAY THAT
THIS IS GOING TO BE A HOLD OPEN
ITEM BUT I TO WANT TO- SHARE
SOME OF THE QUESTIONS AND
CONCERNS RAISED BY THE LA O'S
OFFICE. IT IS IMPORTANT TO HAVE-
YOU KNOW. CLEAR JUSTIFICATION
FOR BOTH TIMING AND FOR THE
AMOUNT OF MONEY THAT YOU'RE
ASKING EVEN WHEN IT REGARDLESS
OF IF IT'S A LARGE AMOUNT OR
SMALL MARK- AND- I THINK WE ALSO
ECHOED THE CONCERN THAT IT DOES
PROVIDE A LOT OF LATITUDE- TO GO
BIZ WITH REGARDS TO ESTABLISHING
CRITERIA CLEAR CRITERIA AND
GUIDELINES. SO I'M HOPING THAT
SOME OF THAT WILL GET FLUSHED
OUT- BEFORE THIS COMES BACK TO
US. DO WE HAVE ANY IDEA ABOUT
LIKE HOW MUCH IN GRANT FUNDING
EACH LOCAL ENTITY IS LIKELY TO
RECEIVE. WE CURRENTLY DON'T HAVE
ESTIMATES FOR THOSE AMOUNTS
HOWEVER DURING THE PROJECT
IDENTIFICATION PHASE WHICH IS
THE FIRST YEAR AND PROBABLY
SECOND HERE- WE HOPE TO IDENTIFY
PROJECTS THAT ARE COUPLE THE-
NOT JUST. THE AMOUNTS THAT ARE
AVAILABLE BUT USING THOSE AS
LEVERAGE ON FEDERAL PROGRAMS
THAT ARE ALSO AVAILABLE. HAVE
YOU GOTTEN ANY FEEDBACK FROM
LOCAL GOVERNMENTS THAT MIGHT BE
ELIGIBLE FOR THESE FUNDS ON WHAT
THEY'RE LOOKING FOR AND WHAT
THEY NEED AND HOW THEY CAN USE
THEM. WE HAVE HAD CONVERSATIONS
WITH A NUMBER OF JURISDICTIONS
THAT ARE CURRENTLY ELIGIBLE
INCLUDING FRESNO. KERN AND TO
HIM UP- WE'RE LOOKING FORWARD TO
ADDITIONAL CONVERSATIONS AROUND
WHAT PROJECT ORIENTATIONS ARE
LOOKING FOR DIVERSIFICATION
PURPOSES. HAVE THERE BEEN ANY
THOUGHTS ON ACCOUNTABILITY
MEASURES ARE IN PLACE TO ENSURE
THAT MONIES ARE USED
APPROPRIATELY. WE ARE
CONSIDERING AND THEN STILL
LOOKING THROUGH HOW TO DIRECT
THESE RESOURCES APPROPRIATELY I
THINK WE'RE AIMING TO LEVERAGE
AS MUCH AS POSSIBLE. FEDERAL
DOLLARS IN FEDERAL PROGRAMS IN
THE DEFINITIONS THAT ARE SCRIBE
BY THOSE PROGRAMS TO BE ABLE TO-
INDICATE THOSE THOSE METRICS
THAT WE HAVE TO DEFINE AS WELL.
AND ARE THERE CONTINUE
DISCUSSIONS ABOUT HOW TO SORT OF
MORE NARROWLY FOCUSED- THE
GUIDELINES AND CRITERIA SO THAT
THE DISCRETION IS NOT SO
RELAXED. YES AND WE DO LOOK
FORWARD TO WORKING WITH YOUR
OFFICES AS WELL TO REFINE THOSE
CRITERIA. OKAY GREAT WELL THANK
YOU AS I MENTIONED THIS IS GOING
TO BE A HOLD OPEN ITEM AND SO
WITH THAT WE'RE GOING TO MOVE ON
ISSUE TWENTY THREE. COMBATTING
ORGANIZED RETAIL THEFT- MISA
LYNN GRAY. YES IS HERE WOULD YOU
LIKE TO START. MEDIA I AM CHIRLA
AND GRAY OUR DIRECTOR OF
CALIFORNIA'S OFFICE INTO SMALL
BUSINESS ADVOCATE THANK YOU FOR.
LEADING HIM WALK COMMITTEE THE
BUSINESS RETAIL CROWNS PROGRAM I
WILL BE IN THE STATE ARE GOAL-
WE DESIGN THE PROGRAM DIRECTOR
AND RESPOND. TO REAL IMPACTS
THAT WE TELL DOCTOR HAVING ON
BUSINESSES THAT CAL SH THAT IN
MIND- LET ME JUST THAT ARE HIRED
HOW THE PRO WILL WORK IF IN OUR
BUSINESS EXPERIENCES RETAIL
STAFF. ARE OR OUR JUNE ONE TWO
TWO TWO AND THEY KEEP FINANCIAL
WITH HE GOT THAT PROGRAM THEY
WILL BE ELIGIBLE IT MEETS
CRITERIA. GEN THERE THE SIZE
FOR. I. BE A REGISTER IN I DID
NOT FOR NON WITH ANNUAL REVENUE
BETWEEN THOUSAND AND FIVE
MILLION. I KNOW. I EXPERIENCED
THEFT ON MURSCHEL PROPERTY ON J.
ONE LATER AND IT- THEY HAVE TO
HAVE OF THE LAN PORTS AGENCY
WORK. OR AN IN CLAIM EXACTLY
DATE THE. THREE HEALTH STAFF ARE
OFTEN REQUIRE THEY BE OPEN OR
HAVE PLANS TO MEET. AND IT THERE
IS THE- REQUIRED IN THEY MUST
PROVIDE STATE TAXES ANOTHER
DOCTOR OR ALLEGATIONS- PURPOSE
AS SUCH AND THERE WERE. IS THAT
FOR RETAIL MEMBERS.
HELLO AT OUR END NETWORK
QUESTION GREAT THANK YOU LA OWES
OFFICE WOULD YOU LIKE TO COMMENT
. YES THANK YOU BRING WHETHER
FORD WITH THE LEGISLATIVE
ANALYST'S OFFICE AND- YOU KNOW
THE MINISTRATIONS PROPOSED GOAL
FOR THIS NEW GRANT PROGRAMS TO
PROVIDE COMPENSATION TO SMALL
BUSINESS OWNERS WHO HAVE BEEN
VICTIMS OF RETAIL THEFT. AS WE
NOTED IN FEBRUARY IMPLEMENTING
THIS CONCEPT WOULD FACE A LOT OF
PRACTICAL CHALLENGES AND WE
HIGHLIGHTED IN PARTICULAR HOW IT
WOULD LIKELY BE DIFFICULT TO
DEFINE THE ELIGIBILITY CRITERIA
AND HOW BEST TO DOCUMENT LOSSES
BUSINESS OWNERS EXPERIENCE
RELATED TO BOTH. FROM LEGAL
DEFINITIONS AS WELL AS I'M
TRYING TO MINIMIZE THE BURDEN ON
ON BUSINESSES- THAT APPLY FOR
THE GRANTS AFTER REVIEWING THE
TRAILER BILL LANGUAGE AND
MEETING WITH- WITH DIRECTOR GRAY
AND- THE GOVERNOR'S OFFICE OF
BUSINESS AND ECONOMIC
DEVELOPMENT THE DEPARTMENT
FINANCE WAS CLEAR THAT- THE
ADMINISTRATION'S GRAPPLED WITH
THESE CHALLENGES. THEY'VE
THOUGHTFULLY ATTEMPTED TO
BALANCE. PROGRAM REQUIREMENTS-
THIS FOR OUR CURRENCY DURING
CONFLICT- SO FOR EXAMPLE THE
PERSON WOULD NEED TO REQUIRE
SOME SORT OF DOCUMENTATION IN
ORDER TO REDUCE LIKELIHOOD FRAUD
WHILE ALSO BEING FLEXIBLE AND
SIMPLE ENOUGH TO MINIMIZE BERMAN
APPLICANTS. NONETHELESS WE NOTE
THAT THE DEFINITION OF RETAIL
THEFT AND THE ELIGIBILITY
CRITERIA BOTH ARE QUITE BROAD
AND THIS RAISES TWO MAJOR
CONCERNS SO FIRST WE BELIEVE THE
PROGRAM WILL QUICKLY BE
OVERSUBSCRIBED. AND SECOND IT
SEEMS LIKE WITH THE PROGRAMMING
NOT- PROVIDE. THE THIS SORT OF
ASSISTANCE THEY MIGHT HAVE IN
MIND WHEN YOU THINK ABOUT- YOU
KNOW PROGRAM THAT'S DESIGNED TO-
PROVIDE ASSISTANCE TO SMALL
RETAILERS AFFECTED BY ORGANIZED
RETAIL. SO FIRST- OF THE TWENTY
MILLION DOLLARS TO THE
ADMINISTRATION'S PURPOSE FOR THE
PROGRAM THREE MILLION DOLLARS
WOULD BE RESERVED FOR
ADMINISTRATIVE EXPENSES. 15% ON
LEADING SEVENTEEN MILLION
DOLLARS FOR GRANTS. SO SKINNER.
HAVE AN AVERAGE GRANT OF FIFTEEN
THOUSAND DOLLARS WHICH WE THINK
IS VERY REASONABLE- FOR A
PROGRAM WITH A MAXIMUM OF TWENTY
FIVE THOUSAND DOLLARS WE
ESTIMATE THE PROGRAM WOULD WORK
FEWER THAN TWELVE HUNDRED
GRANTS. AND GIVEN THE BROAD
ELIGIBILITY CRITERIA WE EXPECT
THAT THE PROGRAM WOULD QUICKLY
BECOME OVER STRIPED- HOWEVER WE
SHOULD NOTE THAT NEITHER WE NOR
THE ADMINISTRATION. HAS
CONDUCTED ANALYSIS THE NUMBER OF
SMALL BUSINESSES THAT THAT ARE
LIKELY TO BE VICTIMS OF THEFT
ARSON AND VANDALISM I BETWEEN
JANUARY FIRST TWENTY TWENTY TWO
AND WITH THE PERFORMANCE- BUT I
DO SAY SMALL BUSINESSES ON VERY
INTENTIONALLY BECAUSE OF THE
CARE THAT. PRETTY MUCH ANY
BUSINESS- THAT MEETS THE REVENUE
ELIGIBILITY AND HAS BEEN A
VICTIM OF PROPERTY DAMAGES AFTER
VANDALISM ARSON WOULD LIKELY BE
ELIGIBLE. AND SO RETAILERS
MAINLY COMPRISE A PORTION OF THE
BUSINESSES THAT ARE ABLE TO
SECURE A GRANT. ON THE FOR THE
FUNDING IS EXHAUSTED AND GIVEN
THESE POTENTIAL CONCERNS WERE.
CONCERNED THAT BY CREATING THIS
PROGRAM YOU COULD FIND YOURSELF
IN A SITUATION DOWN THE ROAD
WHERE- SIMILARLY TO THE SMALL
BUSINESS COVERED RELIEF GRANT
PROGRAM WHERE MULTIPLE
ADDITIONAL ROUNDS OF FUNDING
WOULD BE REQUIRED TO MEET THE ON
THE DEMAND THAT. ON THE
MATERIALIZE FOR THIS PROGRAM.
LASTLY WANTED TO THE WORLD CAN
THAT THE PROBE SEEMS BE RELATIVE
EXPENSIVE. SIMILAR PROGRAMS HAVE
COST OF ONLY AROUND FIVE
PERCENT- RELATIVE TO THE 15%
HERE SET ASIDE FOR THIS PROGRAM.
NOW GIVEN THE CHALLENGES POSED
BY SETTING UP THIS NEW AND
FAIRLY COMPLICATED PROGRAMS THAT
MAY NOT BE IN A REASONABLE
AMOUNT BUT IT DOES. INFORM YOUR
ASSESSMENT PERHAPS IT'S LIKE THE
COST EFFECTIVENESS SO. WITH THE
MATH WE DID BEFORE THAT WORKS
OUT TO ABOUT TWO THOUSAND FIVE
HUNDRED DOLLARS ADMINISTRATIVE
COSTS FOR GRANT AWARDS. SO THAT
CONCLUDES OUR COMMENTS. THANK
YOU FOR THAT- DEPARTMENT OF
FINANCE YOU HAVE ANY COMMENTS.
AND WEBER PART OF FINANCE NOTE
YOUR ACCOUNT THIS TIME. THANK
YOU BRING IT BACK TO THE
COMMITTEE SENATOR ROB DO YOU
HAVE ANY QUESTIONS OR COMMENTS
OR QUESTIONS ABOUT. ALL RIGHT
WELL I TO- WANT THANK YOU FOR
THAT DR MR A- SENATOR ROB I-
WANT TO. GO I'M IN A CRAZY PLACE
TODAY YOU HAVE NO IDEA BUT YOU
CAN BE DOCTOR AND SENATOR HANNON
MISTER AT THE SAME TIME. HE HE
HE- YES SO YOU KNOW THE WORDS
THAT ALSO CAME TO MY MIND WERE
HOT MESS THIS SEEMS LIKE- AB AS
STILL A PROPOSAL THAT'S RATHER
ON COOK AND I DO ECHO A MANY OF
THE CONCERNS RAISED BY THE LA
O'S OFFICE- ORGANIZED THEFT IS
REAL- VANDALISM AND BURGLARY AND
THEFT HAVE HIT A NUMBER F OUR-
BUSINESSES UP AND DOWN THE
STATE. OUT WE DO HAVE TO GET A
HANDLE ON IT I'M JUST WONDERING
IF THERE IS A BETTER WAY FOR US
TO BE COMPASSIONATE TOWARDS
THOSE FOLKS WHO HAVE BEEN
VICTIMS OF THEFT RATHER THAN
SOMETHING LIKE THIS WHICH STILL
IS RATHER VAGUE- I IF I RECALL
FROM THE HEARING THAT WE HAD
EARLIER IN THE YEAR THERE- WAS
MENTIONED THAT THERE ARE MANY
VICTIMS OF RETAIL THEFT. THAT
EITHER HAVEN'T FILED REPORTS SO
THAT WERE AFRAID TO REACH OUT
BECAUSE OF RETALIATION AND OTHER
ISSUES AND SO MY CONCERN WOULD
E THAT- LARGER COMPANIES THAT
HAVE INFRASTRUCTURE THAT KNOW
HOW TO ACCESS THESE KINDS OF
FUNDS THAT ACTUALLY HAVE PEOPLE
ON THE PAY ROLL WHO ARE WATCHING
FOR WAYS TO FOR. TO YOU KNOW.
FIND AND APPLY FOR RESOURCES
WOULD BE FIRST IN LINE SINCE
THIS IS FIRST COME FIRST SERVE
AND MANY OF THE SMALL BUSINESSES
AND MOM AND POP BUSINESSES THAT
I'VE ALSO SUFFERED FROM RETAIL
THEFT AND DON'T HAVE THE
CAPACITY TO DO THAT. ARE GOING
TO MISS OUT- 15% ALSO SEEMS KIND
OF HIGH THAT'S LIKE A BAD CREDIT
CARD I WONDER WHY THE COSTS ARE
SO HIGH FOR ADMINISTERING THIS
PROGRAM- AND I JUST. YOU KNOW
WE'VE HERE WE'VE HEARD SO MANY
AND WE READ SO MANY ARTICLES IN
THE PAPER AROUND YOU KNOW JUST
THE CHALLENGES WITH EDT THE
CHALLENGES WITH OUR RENTER'S
ASSISTANCE PROGRAM THROUGH THE
EVICTION MORATORIUM. DOLLARS AND
EFFORTS AND I WOULDN'T WANT THIS
TO BE ANOTHER BAD HEADLINE- AND
SO I'M ALSO JUST WONDERING IF WE
CAN COLLECT DATA. ON THE NUMBER
OF SMALL MIDSIZE AND LARGE
COMPANIES- THAT HAVE SUFFERED
FROM ORGANIZED STAFFED AND IF WE
CAN FIND ANOTHER WAY TO
DISTRIBUTE- FUNDS TO THEM TO
HELP THEM OPEN UP MANAGE THEIR
REPAIRS GET BACK ON TRACK.
BECAUSE AN AVERAGE OF TWENTY
FIVE HUNDRED DOLLARS- MIGHT NOT
BE WORTH THE TIME THAT IT TAKES
SOMEONE TO TRYING TO HUSTLE UP
AND GET THIS MONEY- I DON'T KNOW
I KNOW MISS GRAY IS NO LONGER
HERE IF THERE'S SOMEONE ELSE WHO
CAN RESPOND. RYAN RUTLEDGE
BUDGET OFFICER GOVERNOR'S OFFICE
OF BUSINESS AND ECONOMIC
DEVELOPMENT- ON BEHALF OF THE
VISION AND CALIFORNIA- SBA THE
WOULD THE MINISTER THE PROGRAM.
SO THANK YOU SO MUCH FOR THE
INPUT WE HAVE. THE FIRST BIG
POINT IS THAT WE DO LOOK FORWARD
TO GETTING INPUT FROM THE
LEGISLATURE TO MAKE SURE THIS
WOULD BE SUCCESSFUL. WE
APPRECIATE THE CONCERNS AND
ACKNOWLEDGE- THE POINT YOU'RE
MAKING. I'LL JUST RESPOND I
GUESS TO SEVERAL THEM WITH TWO
BIG POINTS. ARE IN TERMS OF
EQUITY THE ADMINISTRATION IS
FOCUSED ON TRYING TO STRIKE A
REASONABLE BALANCE BETWEEN.
EQUITY AND EFFICIENCY AND IN
DESIGNING THIS PROGRAM. THE WAY
WE THINK WE CAN MAKE SURE THE
FIRST COME FIRST SERVE MODEL IS
EQUITABLE IS- WE WILL BE
LEVERAGING. CALLOW SBA'S
EXISTING APPROACH TO WORKING-WITH TECHNICAL ASSISTANCE
PROVIDERS AND- BASICALLY A BIG-
HUNDRED PLUS ORGANIZATIONS
ACROSS THE STATE THAT HAVE
HELPED US- BASICALLY- MAKE SURE
THAT FOR THE COVERED RELIEF.
GRANT PROGRAM FOR EXAMPLE SMALL
BUSINESSES WERE AWARE OF THIS
THEY HAD THE ASSISTANCE THEY
NEEDED TO APPLY. SO WE WOULD
ESSENTIALLY MAKE SURE THAT FOR
THOSE WITH CAPACITY ISSUES- WE
WOULD LEVERAGE THAT EXISTING
NETWORK. THE SECOND POINT IS ON
ON TERMS OF THE YOU YOU WOULD
RAISE THE POINT ABOUT THE SIZE
OF THE BUSINESSES AND THE
CONCERN THAT MAYBE. A LARGER
ANNUAL REVENUE BUSINESS WOULD-
IT WOULD SORT OF DOMINATE THIS
GRANT PROGRAM- IN ADDITION TO
THE TECHNICAL ASSISTANCE-
NETWORK THAT WE WOULD LEVERAGE.
AS I SAID WE ALSO DID MAKE SURE
TO DESIGN THIS AS- FOR A FOR A
LARGER- BUSINESS LET'S SAY
MILLION DOLLAR ANNUAL REVENUE
RELATIVE TO THE HUNDRED K.
ANNUAL REVENUE BUSINESS. YOU ARE
MORE LIKELY TO HAVE INSURANCE
YOU'RE MORE LIKELY TO HAVE. A
GREATER CAPACITY TO DRAW DOWN TO
MAXIMIZE YOUR INSURANCE CLAIM.
THE WAY WE WROTE THIS LANGUAGE.
THE ONLY ELIGIBLE USES WOULD
COME AFTER AN EXISTING AND
CHURNS. SO IF YOU A RELATIVELY
WITHIN THE SMALL BUSINESS WORLD
A RELATIVELY. LARGER ENTITY- OUR
OUR VIEW IS THAT. YOU WOULD
LIKELY- HAVEL A LOT CLAIMED BY
INSURANCE AND THEREFORE- FOR THE
FOLKS THAT MAYBE DIDN'T HAVE A
SUCCESS THEY EITHER DON'T HAVE
INSURANCE OR DON'T HAVE. ACCESS
TO MAXIMIZING THEIR INSURANCE-
WE TRY TO MAKE IT SO THAT. THEY
WOULD. ESSENTIALLY HAVE A
GREATER ACCESS HERE. SO I'LL
STOP THERE BUT APPRECIATE THE
COMMENTS AND THE INPUT. THANKS
I'M WITH THIS ALSO INCLUDES THE
STREET VENDORS. IT'S BEST IT'S
SPECIFIED AS COMMERCIAL
PROPERTY. SO YOU HAVE TIME FOR
TOMORROW I DON'T THINK WE HAVE A
VIEW ON THAT OFFICIALLY BUT- SO-
GIVE THAT WE CAN GET BACK TO YOU
IF- AND LOOK AT THAT BUT I I'M
I'M GNNA SAY THEY'LL ALL JUST
FLAG THAT WE HAD COMMERCIAL
PROPERTY CALLED OUT AS- NEEDING
TO BE IMPACTED. OKAY WELL IN
THAT THE HELP WAS GREAT BACK.
NOW SHE'S GONE YES MA'AM I JUST
WANTED TO ADD SOME CONTACT
AROUND THE HEIGHT I'M SO SMALL
BUSINESSES IN CALIFORNIA CAN
HAVE A FEW. HUNDRED EMPLOYEES
AND FIFTEEN AND DOLLARS AN
AVERAGE REVENUE NOW ON THE DAY
HAPPY REVENUE CAP FOR THIS
PROGRAM SENATE FIVE MILLION
DOLLARS WHICH IS REALLY THE
MICROBIT THRESHOLD AND IT'S
WORTHY TO NOTE THAT THE- PERCENT
OF THOSE FEDERAL REGISTER. EIGHT
ARE ACTUALLY. THAT MAULERS.
FILLED FIFTY. HAS REALLY BEEN.
FOR THE SMALLER OF OURS BUSINESS
IN THE WITHOUT READ CAP AT FIVE
MILLION. OKAY THANK YOU THAT- I
DO I DO THINK THAT. ARE THE NET
WHY- AND I THINK WE DO WANT TO
HAVE SIEVES- BECAUSE IT'S REALLY
IMPORTANT THAT IF WE'RE SAYING
WE'RE GOING TO HELP THOSE THAT
HAVE BEEN VICTIMS OF ORGANIZED
STAFF THAT WE COME UP WITH A
PROGRAM THAT REALLY WILL ADDRESS
THEM MEET THEM WHERE THEY ARE-
IN A KNOWLEDGE THAT THEIR- SMALL
BUSINESSES OF ALL SHAPES AND
SIZES AND KINDS. THAT HAVE BEEN
VICTIMIZED- BY ORGANIZED CRIME
IN ORGANIZED RETAIL THEFT AS A
RESULT OF COBIT AND THE PANDEMIC
AND SO YOU KNOW JUST LIKE WE'VE
BEEN SAYING THROUGHOUT THE
COURSE OF THIS HEARING YOU KNOW
IT IS REALLY IMPORTANT TO HAVE
PROGRAMS THAT ARE CUSTOMIZABLE-
IN THAT ALSO TAKE INTO ACCOUNT
THE FACT THAT SO MANY FOLKS HAVE
BEEN DISENCHANTED BY GOVERNMENT.
AND SO UNFORTUNATELY THAT MEANS
WE HAVE ADDITIONAL HURDLES THAT
WE HAVE TO OVERCOME TO PROVIDE
RESOURCES IN A WAY THAT IS
MEETING FOLKS WHERE THEY ARE AND
ADDRESSING THE CONCERNS THAT
THEY HAVE WITH THEIR INABILITY
TO GET TO US. BUT YOU ARE IN
LUCK BECAUSE IT IS STILL ON HOLD
OPEN ITEM SO THERE IS HOPE YET-
WE HAVE REACHED THIS PORTION OF
THE PROGRAM WHERE WE ARE GOING
TO MOVE ON TO ANYONE PROVIDING
PUBLIC COMMENT. BEFORE I GO INTO
THE SCRIPT- IF THERE ARE ANY
COMMITTEE MEMBERS THAT WOULD
LIKE TO MAKE THEIR WAY AT TO
ROOM TWENTY ONE HUNDRED WE WOULD
LOVE TO SEE YOU BECAUSE AFTER
PUBLIC COMMENT WE WILL BE GOING
TO- VOTE ONLY. SO WE ARE NOW
GOING TO MOVE ON TO ANYONE
WANTING TO PROVIDE PUBLIC
COMMENT REGARDING ITEMS ON THE
AGENDA. AS A REMINDER TODAY'S
PARTICIPANT NUMBER IS. EIGHT
SEVEN SEVEN TWO TWO SIX EIGHT
ONE SIX THREE. AND THE ACCESS
CODE IS. SEVEN THREE SIX TWO
EIGHT THREE THREE. DUE TO
CONSTRAINTS REGARDING THE LENGTH
OF HEARINGS TECHNOLOGY
CONSIDERATIONS AND CLEANING
PROTOCOLS COMMITTEE CHAIRS MAY
INSTITUTE TIME LIMITS ON
TESTIMONY TODAY I'M GOING TO ASK
THAT EACH MEMBER OF THE PUBLIC
PROVIDING PUBLIC COMMENT KEEP
THEIR REMARKS WITHIN ONE MINUTE.
NOW LET'S BEGIN WITH ANY
WITNESSES HERE IN THE HEARING
ROOM. I SEE TONS OF PEOPLE
SENATE ARRIVES WE'RE GOING TO
HAVE TO ASK FOR EXTRA SECURITY.
ACTUALLY NO IT IS HERE SO
MODERATOR IF YOU WOULD PLEASE
FROM THE INDIVIDUALS WAITING TO
PROVIDE PUBLIC COMMENT WE WILL
BEGIN. CERTAINLY RELATED IN
GENERAL AND FOR ACCOUNTANTS
PLEASE PRESS ONE AND ZERO ON
YOUR TOUCH TONE PHONE ONE BOTTLE
OF BY ZERO ONE AND THEN ZERO
THANK YOU MR MODERATOR CAN YOU
PLEASE GIVE ME THE TOTAL NUMBER
OF PEOPLE WAITING TO TESTIFY-
PRESENTLY IN THE QUEUE WE HAVE
FIVE. ALL RIGHTY THANK YOU MR
MODERATOR SO IT WOULD BE GREAT
IF YOU WOULD OPEN THE LINES AND
CALL THE MEMBERS OF THE PUBLIC
INDIVIDUALLY AND WE WILL BE
AGAIN. WELL. FIRST WE GO TO LINE
NUMBER TWENTY ONE TWENTY ONE NO
ONE IS OPEN. GOOD MORNING MADAM
CHAIR AND MEMBERS OF WAR ON
BEHALF OF CHILDREN'S PARTNERSHIP
. IF SHE'S TWENTY ONE THE HOPE
THE COUNT PROGRAM AT THE JANUARY
FIRST TWENTY TWENTY ONE DIRTY
ESTIMATED TO BE NEARLY TWENTY
THOUSAND CALIFORNIA CHILDREN WHO
LOST AT LEAST ONE PARENT OR
PRIMARY CARE GIVER TO COPE WITH
NINETEEN. AND ARE LEFT WITH
SIGNIFICANTLY REDUCED FINANCIAL
SUPPORT THE CHILDREN ARE IN DIRE
NEED OF FINANCIAL SUPPORT TO
RECOVER. ADDITION ABSOLUTE. INTO
ADULTHOOD FACED DURING
SENSIBILITY IN THEIR LIVES.
BRINGING STABILITY TO BE SEATED
FHS IN THE TRANSITION TO
ADULTHOOD SUPPORT THEIR ECONOMIC
AND WELL BEING PROJECTIONS LONG
AFTER THEY RECEIVE THESE FUNDS
FOR THE CHILDREN'S PARTNERSHIP
ALSO SPORTS ISSUE NINETEEN FUND
OUT RICH AND VIBRANT SO
COMMUNITY MEMBERS CAN HAVE
ACCESS TO THESE VITAL RESOURCES
YEAR ROUND. THANK YOU FOR YOUR
CONSIDERATION. THANK YOU. THIS
MODERATOR NEXT. THEN THE NEXT
ONE IS A LINE TWENTY SEVEN AND
TWENTY SEVEN. EIGHT PP MATTHEWS
CALLING ON BEHALF OF THREE FIVE
CALIFORNIA. I CALIFORNIA CALLING
IN TO SUPPORT THE FUNDING HOPE
ACCOUNT FROM THE BUDGET AND
REGARDING THE TAX PROPOSALS THAT
WE HEARD TODAY FIRST LET
CALIFORNIA STRONGLY SUPPORT ANY
EXPANSION OF THE CHILD TAX
CREDIT WHICH WILL HELP LIFT LOW
INCOME FAMILIES OUT OF POVERTY
THANK YOU. THANK YOU MR
MODERATOR NEXT CALL. ONE TWENTY
TWO YOUR LINE IS OPEN. GOOD
MORNING MADAM CHAIR AND MEMBERS
MY NAME IS CODY THAN SELDEN I AM
WITH ROBERT ADVOCATE FOR YOU.
I'M CALLING IN SICK TRONG
SUPPORT AND ISSUES TWENTY TAX
PROPOSALS ARE WELCOME TO WORK IN
ISSUE TWENTY ONE TO FIND HOPE
ACCOUNT IN THE BUDGET FOR
FOSSE'S IN CHILDREN WHO LOST A
PARENT OR CAREGIVER TO COVE IN
NINETEEN. THANK YOU. THANK YOU
MISTER MODERATOR NEXT CALLER.
TWENTY SIX YOUR LINE IS OPEN.
YEAH GOOD MORNING SAN LUIS
REPRESENTING CHILDREN NOW WHEN
IF YOU CAN AFFORD ON ISSUE
NUMBER TWENTY WIND AND UPDATE
DATA THE COMMENTS MADE BY THE
OTHERS SPEAKERS AROUND THE
BENEFIT OF THE HOPE ACOUNT
PROGRAM THANK YOU FOR YOUR
LEADERSHIP. SENATE THANK YOU
MISTER MODERATOR NEXT CALLER.
ONE THIRTY ONE YOUR LINE IS OPEN
. HELLO MADAM CHAIR MEMBERS MY
NAME IS ANA HOW SUPPLIED WITH
UNITED WAY THE CALIFORNIA FOR
CALLING IN STRONG SUPPORT OF THE
PROPOSAL PLAYED OUT UNDER ISSUE
TWENTY AYE WE'RE THRILLED THAT
THE SENATE PLAN INCLUDES SEVERAL
OF THE CALORIE COUNT YET YOU SEE
COALITION PRIORITIES TO SUPPORT
LOW INCOME CALIFORNIANS IN
PARTICULAR THE CREATING OF A
MINIMUM CAL THE ATC FOR ALL
ELIGIBLE FILERS. THAT WILL
IMPACT WELL OVER THREE MILLION
CALIFORNIANS WHO CURRENTLY
RECEIVE LESS THAN TWO HUNDRED
AND FIFTY FIVE DOLLARS
ADDITIONALLY- BE INVESTING IN
FREE TAX PREPARATION AND
OUTREACH- AND THE EXPANSION
INCLUDED IN THE SENATE PROPOSAL-
IS IT SOMETHING WE STRONGLY
SUPPORT AS WELL AS EXPANDING THE
YOUNG CHILD TAX CREDIT AND THE
RENTER'S TAX CREDIT IMPENDING
PACKED. INSURING TAX CREDIT OF
INTENDED TO REDUCE POVERTY ARE
NOT INTERCEPTED BY GOVERNMENT
AGENCIES THANK YOU SO MUCH THANK
YOU MR MODERATOR DO WE. HAVE ANY
OTHER CALLERS IN THE QUEUE. WE
DO NOT AND- WE PRESENT HAVE
FIVE. THE NEXT BLIND FOUR YEAR
LINE OPEN. THANK YOU MADAM CHAIR
AND MEMBERS FINICKY MINUTES
FALLING ON BEHALF OF THE REYES
AND SHOP ARE BEING CAL. AND ALSO
PROVIDED PUBLIC COMMENTS FOR AND
POVERTY IN CALIFORNIA OR ETHNIC
RECALLING A STRONG SUPPORT OF
ISSUE TWENTY ONE TO FUND ACCOUNT
AND THANK YOU FOR CHILDREN AND-
CARE AND CHILDREN IMPACTED BY
KOBE NINETEEN. AS- YOU KNOW
WE'VE HEARD OVER TWENTY THOUSAND
CHILDREN CALIFORNIA HAVE LOCKED
PRIMARY SECONDARY CARE GIVER TO
COVERT NINETEEN AND WE KNOW THAT
HOW IN CALIFORNIA HIGH LIVING
CREATES AN ADDITIONAL BARRIER
FOR OUR FOSTER YOUTH WHO LIVE.
BELOW THE POVERTY LINE. WAIT FOR
PRESENTED IS THE RATE SORRY
ABOUT THAT AND- REALLY WE WANT
TO EMPHASIZE AS WELL THAT YOU
KNOW MANY OF THE CHILDREN WHO
HAVE WALKED THE CARE GIVER- COME
FROM LOW INCOME BACKGROUNDS AND
THAT'S REALLY AT THE DETRIMENT
OF MANY OF THEIR PARENTS. AND
CAREGIVERS NOT BEING ABLE TO- DO
THEIR ESSENTIAL WORK AT HOME
ITSELF REALLY THIS IS AN
IMPORTANT ISSUE THAT WE REALLY
WANT- I THINK THE SENATE FOR
INCLUDING IN THE PHOTOGRAPHY.
THANK YOU. MODERATOR NEXT CALLER
. WHAT IN TWENTY CAROLINA'S OF.
THANK YOU CAN MORNING MADAM
CHAIR AND MY IS KERRY OLEAN WITH
SECURITY I AND I'M CALLING IN OF
THE GROUP PLAYED OUT UNDER
ISSUED. WE ARE- DEEPLY
APPRECIATED OF YOUR LEADERS IS A
LEADER OF THE- IF YOU CREATE A
THAT INCLUDES SAMPLE I ALREADY
FOR SUPPORT WOMEN CAN HELP THAT
ARE ON THE DOORS AND- BECAUSE OF
THE COUNTY YOU SEE COALITION. IS
A BIG WEEK FOR MEANS CARE YET
HE'S HE CRY AFTER FIFTY FIVE
WILL WILL HELP POINT ONE TAX.
SPEND THE YOUNG CHILD TAX CREDIT. THE PART OF THAT THAT MAKES
SUCH A HUGE DIFFERENCE AT THE
SAW LAST YEAR WITH THE FEDERAL
CHILD CARE CREDIT. IT RESOURCE
TO CREATE. PREP THAT PEOPLE CAN
. GET THE CROWD BUT THERE. FOR
AND ENSURING THE TAX CUT ARE NOT
ACTUALLY IN. IN GRAB IT BEFORE
THEY- TO ADD TO THEIR INTENDED
PURPOSE OF THE DRAFTING POP.
THANK YOU SO MUCH FOR YOUR
LEADERSHIP AND BE ARE YOUR
SUPPORT SHIPS. THANK YOU SO MUCH
MODERATE AND OUR CALLER. THIS
CALL ORIGINAL THIRTY TWO YOUR
LINE IS THIRTY. GOOD MORNING
MADAM MEMBERS PITCHING TRAINED
ON BEHALF OF THE ENTIRE PROPERTY
GREAT ALL IN SUPPORT OF OUT AND
ISSUE TWENTY WE ARE JUST SO.
THAT THE SENATE CLINICAL HOW THE
THREE POLISH HIRED AND SPECIAL
SHOUT OUT LIKE A THE COLORS
BEFORE THE MINIMUM YOU SEE
EXTENDING THE CHILD HOW CREDIT
AND BASS. READ THE CREEK HOW
PROFITS IN ASSURING THAT THE NO
DOUBT IN TO CHECK BY AGENCY
THANK YOU FOR. THANK YOU FOR
THAT MODERATOR CALL. IN THIRTY
IS. THIRTY HI GOOD MORNING MADAM
CHAIR THAT BUSINESS YEAR OF ON
THE OF FIVE COUNTY FOUR OF ISSUE
TRY ONE COULD FIND HOPE AND THE
BUDGET THE YOU SO MUCH FOR
LEADERSHIP APPRECIATE ON YOUR
SUPPORT. THANK YOU I'M NEXT. BUT
IN THIRTY ALIGN IS A THIRTY
THREE. GET MY MADAM NUMBER- MY
NAME IS TERRA THAT SOME YOU CAN
THEN. I'M HERE IN THE OF THE
GROUP BOTH LAID OUT ISSUE. ONE
THANK YOU YOUR LEADERS FOR
INCLUDING SEVERAL COLLEAGUES
BECAUSE PRIORITIES SUPPORTING
LOW INCOME CAL. SPECIFICALLY WE
WANT TO THANK YOU FOR THE ACT OF
CREATING A TWO HUNDRED FIFTY
FIVE DOLLARS MINIMUM CREDIT FOR
KELLY EIGHTEEN FEET TO SUPPORT
THREE POINT ONE MILLION
TAXPAYERS IN THE TOP YOUNG CHILD
TAX CREDIT INVESTING ADDITIONAL
RESOURCES AND FREE TAX
PREPARATION THANK YOU FOR YOUR
LEADERSHIP. THANK. YOU MODERATOR
NEXT CALLER. NINE THIRTY EIGHT
YOU'LL AND IS OPEN THIRTY EIGHT.
HI GOOD MORNING MADAM I REMEMBER
THAT CENTER ON BEHALF OF EQUAL
RIGHTS ADVOCATES AND THE TIME TO
HELP ME ADVOCATE- BUT- AND WE
ARE URGE WORK THANK YOU FOR YOUR
LEADERS ON THE PRICE FOR TELL
CAN BE EIGHTEEN HE- HEADING THE
TAX CREDIT AND- THE FOR TO.
UNDER ITEM TWENTY THANK YOU.
THANK YOU. NEXT CALL. ASSEMBLY
NO- SINCE OUT OF JAIL ALL KEY
OKAY I APPRECIATE THAT SO WE
HAVE- COME TO THIS MOMENT IN THE
CALENDAR WHERE WE HAVE HEARD
FROM ALL MEMBERS OF THE PUBLIC
AND WE HAVE HEARD FROM SENATOR
RON. IN THE CHAIR AND WE WERE
RECEIVING THE VIBRATIONS FROM
SENATORS NIELSEN AND CABALLERO
AND YET THEY ARE NOT HERE- BUT
WE WOULD CERTAINLY LOVE FOR
FOLKS TO COME ON BY SO WE CAN
MOVE INTO THE VOTE ONLY PORTION
OF THE CALENDAR. SO THIS IS WHEN
WE TAKE A BRIEF INTERMISSION BUT
WE DON'T RESET S. FOR THOSE ARE
WATCHING US ONLINE I WANT TO
SHARE THAT I OFTENTIMES WE HAVE
COMMITTEES THAT ARE HAPPENING
SIMULTANEOUSLY THIS IS THE CASE
SOME ARE TWO OF OUR- TEMPORARILY
ABSENT MEMBERS ARE ACTUALLY IN A
NOTHER COMMITTEE RIGHT NOW BUT
THEY WILL BE MAKING THEIR WAY
OVER TO VOTE. SO FOLKS ARE HERE
AND THEY'RE WORKING. GAZE ANYONE
WANTS TO SAY SOMETHING SNARKY.
THE WOMAN OF THE HOUR IS HERE
STEPPING AWAY FROM HER DUTIES AS
CHAIR. GOV IN FINANCE. WE WILL
NOW CALL THE ROLL SO WE CAN HAVE
OUR QUORUM IS ESTABLISHED. MADAM
CONSULT. SENATORS KAMAGRA HERE
CABALLERO NIELSEN ROTH. AKORN
HAS BEEN ESTABLISHED WE WILL NOW
MOVE TO THE VOTE ONLY CALENDAR
DO WE HAVE A MOTION TO VOTE ON
THE CALENDARS ISSUE ITEMS ONE
TWO THREE AND EIGHT SO MOVED BY
SENATOR ROTH AT MADAME
CONSULTANT PLEASE CALL THE ROLL
THE MOTION IS TO ADOPT THE STAFF
RECOMMENDATION. SENATORS COME
LONGER. HI COMMITTEE RO FIVE
NIELSEN ROTH ALL RIGHT ALL RIGHT
THAT'S A THREE ZERO ALL THE ROLE
OPEN WE WILL NOW MOVE TO VOTE
ONLY COUNTERED WE HAVE A MOTION
ON CALENDAR ISSUES FOUR FIVE SIX
SEVEN NINE TEN AND ELEVEN. SO
MOVED BY SENATOR COVER YEAR ROW
MADAM CONSULTANT PLEASE CALL THE
ROLL. SENATORS CONNOR I
CABALLERO NIELSEN ROTH THAT IS
OUT WITH A THREE ZERO A WE WILL
HOLD THE ROLE OPEN THIS A MOTION
OKAY ONE WHOLE THE ROLE OPEN I
WANT TO THANK ALL THE
INDIVIDUALS WHO PARTICIPATED IN
PUBLIC TESTIMONY TODAY IF YOU
ARE NOT ABLE TO TESTIFY PLEASE
SUBMIT YOUR COMMENTS OR
SUGGESTIONS IN WRITING TO THE
BUDGET AND FISCAL REVIEW
COMMITTEE OR VISIT OUR WEBSITE
YOUR COMMENTS AND SUGGESTIONS
ARE IMPORTANT TO US AND WE WANT
TO INCLUDE YOUR TESTIMONY IN THE
OFFICIAL HEARING RECORDS I WANT
TO THANK EVERYONE FOR YOUR
ATTENDANCE AND PARTICIPATION. WE
ARE HOLDING THE ROLE OPEN- YEAH
MAYBE OKAY OKAY WE WILL HOLD THE
ROLE OPEN FOR ANOTHER FIVE TO.
OR SO MINUTES IT IS CRAZY WE'RE
WAITING FOR OUR FINAL MEMBER.
THANK YOU.
SENATOR NIELSEN WE WAITED JUST
FOR YOU WE DIDN'T DO ANYTHING
UNTIL YOU GOT HERE. NO NO THAT'S
NOT TRUE I KNOW I KNOW BUT- ALL
RIGHT. ALL OF THE NO APOLOGIES
NECESSARY I NOW SHE SAID YOU
WERE WRECKING HAVOC OVER THERE.
I HOPE NOT BUT HE WOULD HAVE
BEEN BETTER WHEREVER YOU WANTED
ME. YOU HAVE OF YOUR CHOICE OF
ALL OF THE STATE. WELL THANK YOU
MA'AM YOU'RE SO WELCOME MISTER
VICE CHAIR OKAY WERE AND WE'VE
ALLOWED THE ROLL OVER WE'RE
GOING TO GO TO A CALENDAR ISSUE
ITEMS NUMBER ONE TWO THREE AND
EIGHT MADAM A CONSULTANT TO CALL
THE ROLL OPEN FOR THEM. SENATOR
NIELSEN THIS IS ON MOTION ONE
TWO THREE AND EIGHT. ALL RIGHT-
WELL I WILL BE IN A NO VOTE. ON
MOTION ONE ONE TWO THREE ENDATE
A NO. OKAY THAT'S THREE ONE THAT
MEASURE GETS OUT ON NUMBER TWO
MOTIONS TO ISSUE FOUR FIVE SIX
SEVEN NINE TEN AND ELEVEN. I
WILL BE AND I WILL. ALL RIGHT
THAT IS OUT WITH FOUR ZERO THANK
YOU MR VICE CHAIR AND MOVED FROM
THREE I DON'T THINK WE HAVE A
MOTION THREE OKAY THE THIRTY SIX
SEVEN FOR LIKE GOING EXTENDED
RECESS THAT WAS MOTION THREE TO
EXPAND OUR YES SUMMER RECESS
OKAY WITH THIS WE WILL ADJOURN
BUDGET SUB FOR- SUBCOMMITTEE ON
. PHYSICAL REVIEW THANK YOU VERY
MUCH YES SIR.