California 20252026 Regular Session Status: To Executive 2 D cosponsors

SB 700 — Capital Programs and Climate Financing Authority Act: California Investment and Innovation Program.

Last action — Enrolled and presented to the Governor at 3 p.m.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been sent to the executive. Introduced February 21, 2025. It awaits signature.

Next likely step: the executive signs it into law or issues a veto.

Prognosis

Likely to advance 66% · moderate confidence

Where this bill stands today.

Odds of enactment

Moderate

How often bills like it became law.

  • To Executive

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 D).

  • Cleared a recorded vote

    Passed 9 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill establishes a program to support small businesses and community development financial institutions in California.

This bill creates the Capital Programs and Climate Financing Authority to manage funds for small business assistance and grants for community development financial institutions. It aims to enhance financial support for economically disadvantaged communities.

What this means for you
  • Families: This will potentially lead to improved economic opportunities in communities that could benefit families financially.
  • Small Business: This means small businesses can access funding and financial assistance to support growth and sustainability.

Summary

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. 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.

Bill Text

Action History

  1. Enrolled and presented to the Governor at 3 p.m.

  2. Assembly amendments concurred in. (Ayes 39. Noes 0.) Ordered to engrossing and enrolling.

  3. From committee: That the Assembly amendments be concurred in. (Ayes 9. Noes 0.)

  4. Re-referred to Com. on RLS. pursuant to Senate Rule 29.10(d).

  5. From committee: Be re-referred to Com. on B. P. & E.D. pursuant to Senate Rule 29.10(d). (Ayes 5. Noes 0.) Re-referred to Com. on B. P. & E.D.

  6. In Senate. Concurrence in Assembly amendments pending.

  7. Read third time. Passed. Ordered to the Senate.

  8. Assembly Rule 63 suspended.

  9. From committee: Do pass. (Ayes 15. Noes 0.) (August 13).

  10. Read second time. Ordered to third reading.

  11. August 5 set for first hearing. Placed on suspense file.

  12. From 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.

  13. From 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.

  14. Assembly Rule 56 suspended.

  15. From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.

  16. Referred to Com. on B. & F.

  17. In Assembly. Read first time. Held at Desk.

  18. Read third time. Passed. (Ayes 39. Noes 0. Page 3286.) Ordered to the Assembly.

  19. Read second time. Ordered to consent calendar.

  20. From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar.

  21. Set for hearing January 20.

  22. From 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.

  23. Re-referred to Com. on B. & F.I.

  24. Re-referred to Com. on RLS.

  25. Withdrawn from committee.

  26. From committee with author's amendments. Read second time and amended. Re-referred to Com. on L. GOV.

  27. Set for hearing January 7 in B. & F.I. pending receipt.

  28. Re-referred to Coms. on L. GOV. and L., P.E. & R.

  29. From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

  30. Referred to Com. on RLS.

  31. Read first time.

  32. From printer. May be acted upon on or after March 24.

  33. Introduced. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 1 co-sponsors · 120 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (120)

120 members have not signed on to this bill.

Show all 120 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Unfinished Business SB700 Grayson Concurrence

Passed 40 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 6000
Republican 9000
Democratic 25000
Total 40000
% of votes cast 100%0%0%0%
How each member voted (40)
Member Party Vote
Allen — Yea
Gonzalez — Yea
Ochoa Bogh — Yea
Pérez — Yea
Rubio — Yea
Weber Pierson — Yea
Archuleta, Bob Democratic Yea
Arreguín, Jesse Democratic Yea
Ashby, Angelique V. Democratic Yea
Becker, Josh Democratic Yea
Blakespear, Catherine S. Democratic Yea
Cabaldon, Christopher Democratic Yea
Caballero, Anna M. Democratic Yea
Cervantes, Sabrina Democratic Yea
Cortese, Dave Democratic Yea
Durazo, Maria Elena Democratic Yea
Grayson, Timothy S. Democratic Yea
Hurtado, Melissa Democratic Yea
Laird, John Democratic Yea
Limón, Monique Democratic Yea
McGuire, Mike Democratic Yea
McNerney, Jerry Democratic Yea
Menjivar, Caroline Democratic Yea
Padilla, Stephen C. Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Richardson, Laura Democratic Yea
Smallwood-Cuevas, Lola Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Wiener, Scott D. Democratic Yea
Alvarado-Gil, Marie Republican Yea
Choi, Steven S. Republican Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Niello, Roger W. Republican Yea
Seyarto, Kelly Republican Yea
Strickland, Tony Republican Yea
Valladares, Suzette Martinez Republican Yea

Official roll call →

Committee vote — Committee CS42 — Committee vote

Passed 9 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democratic 6002
Republican 3000
Total 9002
% of votes cast 82%0%0%18%
How each member voted (11)
Member Party Vote
Archuleta, Bob Democratic Yea
Arreguín, Jesse Democratic Not Voting
Caballero, Anna M. Democratic Yea
Grayson, Timothy S. Democratic Yea
Menjivar, Caroline Democratic Yea
Smallwood-Cuevas, Lola Democratic Yea
Umberg, Thomas J. Democratic Not Voting
Wahab, Aisha Democratic Yea
Choi, Steven S. Republican Yea
Niello, Roger W. Republican Yea
Strickland, Tony Republican Yea

Official roll call →

That the Assembly amendments be concurred in

Passed 9 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democratic 6002
Republican 3000
Total 9002
% of votes cast 82%0%0%18%
How each member voted (11)
Member Party Vote
Archuleta, Bob Democratic Yea
Arreguín, Jesse Democratic Not Voting
Caballero, Anna M. Democratic Yea
Grayson, Timothy S. Democratic Yea
Menjivar, Caroline Democratic Yea
Smallwood-Cuevas, Lola Democratic Yea
Umberg, Thomas J. Democratic Not Voting
Wahab, Aisha Democratic Yea
Choi, Steven S. Republican Yea
Niello, Roger W. Republican Yea
Strickland, Tony Republican Yea

Official roll call →

SB 700 Grayson Senate Third Reading By Mark González

Passed 78 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 53001
Republican 18000
Unaffiliated 7000
Total 78001
% of votes cast 99%0%0%1%
How each member voted (79)
Member Party Vote
Rivas — Yea
Carrillo — Yea
Fong — Yea
Garcia — Yea
Lowenthal — Yea
Patterson — Yea
Ávila Farías — Yea
Addis, Dawn Democratic Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Ahrens, Patrick Democratic Yea
Alvarez, David Democratic Yea
Arambula, Joaquin Democratic Yea
Bains, Jasmeet Democratic Yea
Bauer-Kahan, Rebecca Democratic Yea
Bennett, Steve Democratic Yea
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Bonta, Mia Democratic Yea
Bryan, Isaac G. Democratic Yea
Calderon, Lisa Democratic Yea
Caloza, Jessica Democratic Yea
Connolly, Damon Democratic Yea
Elhawary, Sade Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
González, Mark Democratic Yea
Haney, Matt Democratic Yea
Harabedian, John Democratic Yea
Hart, Gregg Democratic Yea
Irwin, Jacqui Democratic Yea
Jackson, Corey A. Democratic Yea
Kalra, Ash Democratic Yea
Krell, Maggy Democratic Yea
Lee, Alex Democratic Yea
McKinnor, Tina Democratic Not Voting
Muratsuchi, Al Democratic Yea
Nguyen, Stephanie Democratic Yea
Ortega, Liz Democratic Yea
Pacheco, Blanca Democratic Yea
Papan, Diane Democratic Yea
Patel, Darshana R. Democratic Yea
Pellerin, Gail Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Ransom, Rhodesia Democratic Yea
Rodriguez, Celeste Democratic Yea
Rodriguez, Michelle Democratic Yea
Rogers, Chris Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Yea
Schultz, Nick Democratic Yea
Sharp-Collins, LaShae Democratic Yea
Solache, Jr., José Luis Democratic Yea
Soria, Esmeralda Democratic Yea
Stefani, Catherine Democratic Yea
Valencia, Avelino Democratic Yea
Ward, Christopher M. Democratic Yea
Wicks, Buffy Democratic Yea
Wilson, Lori D. Democratic Yea
Zbur, Rick Chavez Democratic Yea
Alanis, Juan Republican Yea
Castillo, Leticia Republican Yea
Chen, Phillip Republican Yea
Davies, Laurie Republican Yea
DeMaio, Carl Republican Yea
Dixon, Diane Republican Yea
Ellis, Stan Republican Yea
Flora, Heath Republican Yea
Gonzalez, Jeff Republican Yea
Hadwick, Heather Republican Yea
Hoover, Josh Republican Yea
Johnson, Natasha Republican Yea
Lackey, Tom Republican Yea
Macedo, Alexandra Republican Yea
Sanchez, Kate Republican Yea
Ta, Tri Republican Yea
Tangipa, David J. Republican Yea
Wallis, Greg Republican Yea

Official roll call →

Do pass.

Passed 15 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 11000
Republican 4000
Total 15000
% of votes cast 100%0%0%0%
How each member voted (15)
Member Party Vote
Arambula, Joaquin Democratic Yea
Calderon, Lisa Democratic Yea
Caloza, Jessica Democratic Yea
Fong, Mike Democratic Yea
González, Mark Democratic Yea
Krell, Maggy Democratic Yea
Pacheco, Blanca Democratic Yea
Pellerin, Gail Democratic Yea
Sharp-Collins, LaShae Democratic Yea
Solache, Jr., José Luis Democratic Yea
Wicks, Buffy Democratic Yea
Dixon, Diane Republican Yea
Hoover, Josh Republican Yea
Ta, Tri Republican Yea
Tangipa, David J. Republican Yea

Official roll call →

Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar

Passed 8 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democratic 6000
Republican 2000
Total 8000
% of votes cast 100%0%0%0%
How each member voted (8)
Member Party Vote
Caloza, Jessica Democratic Yea
Patel, Darshana R. Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Rodriguez, Michelle Democratic Yea
Solache, Jr., José Luis Democratic Yea
Soria, Esmeralda Democratic Yea
Castillo, Leticia Republican Yea
Wallis, Greg Republican Yea

Official roll call →

Do pass and be re-referred to the Committee on [Economic Development, Growth, and Household Impact] with recommendation: To Consent Calendar

Passed 8 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Republican 2000
Democratic 6001
Total 8001
% of votes cast 89%0%0%11%
How each member voted (9)
Member Party Vote
Fong, Mike Democratic Yea
Krell, Maggy Democratic Yea
Rodriguez, Michelle Democratic Yea
Rubio, Blanca E. Democratic Yea
Schiavo, Pilar Democratic Not Voting
Soria, Esmeralda Democratic Yea
Valencia, Avelino Democratic Yea
Chen, Phillip Republican Yea
Dixon, Diane Republican Yea

Official roll call →

Consent Calendar 2nd

Passed 39 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 29001
Republican 10000
Total 39001
% of votes cast 98%0%0%3%
How each member voted (40)
Member Party Vote
Allen, Benjamin Democratic Yea
Archuleta, Bob Democratic Yea
Arreguín, Jesse Democratic Yea
Ashby, Angelique V. Democratic Yea
Becker, Josh Democratic Yea
Blakespear, Catherine S. Democratic Yea
Cabaldon, Christopher Democratic Yea
Caballero, Anna M. Democratic Yea
Cervantes, Sabrina Democratic Yea
Cortese, Dave Democratic Yea
Durazo, Maria Elena Democratic Yea
Gonzalez, Lena A. Democratic Not Voting
Grayson, Timothy S. Democratic Yea
Hurtado, Melissa Democratic Yea
Laird, John Democratic Yea
Limón, Monique Democratic Yea
McGuire, Mike Democratic Yea
McNerney, Jerry Democratic Yea
Menjivar, Caroline Democratic Yea
Padilla, Stephen C. Democratic Yea
Pérez, Sasha Renée Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Richardson, Laura Democratic Yea
Rubio, Susan Democratic Yea
Smallwood-Cuevas, Lola Democratic Yea
Stern, Henry I. Democratic Yea
Umberg, Thomas J. Democratic Yea
Wahab, Aisha Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wiener, Scott D. Democratic Yea
Alvarado-Gil, Marie Republican Yea
Choi, Steven S. Republican Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Niello, Roger W. Republican Yea
Ochoa Bogh, Rosilicie Republican Yea
Seyarto, Kelly Republican Yea
Strickland, Tony Republican Yea
Valladares, Suzette Martinez Republican Yea

Official roll call →

Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar

Passed 5 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 2000
Democratic 3002
Total 5002
% of votes cast 71%0%0%29%
How each member voted (7)
Member Party Vote
Cervantes, Sabrina Democratic Yea
Grayson, Timothy S. Democratic Yea
Hurtado, Melissa Democratic Not Voting
Limón, Monique Democratic Not Voting
Richardson, Laura Democratic Yea
Niello, Roger W. Republican Yea
Strickland, Tony Republican Yea

Official roll call →

Subjects

public-safety housing labor health-insurance agriculture energy
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Frequently asked questions

What does SB 700 do?
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. 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.
Who sponsors SB 700?
SB 700 is sponsored by Cortese, Dave (Democratic) and Grayson, Timothy S. (Democratic).
What is the current status of SB 700?
This bill has been sent to the executive. Introduced February 21, 2025. It awaits signature.
Where can I track SB 700?
Track SB 700 free on One Click Politics — get push/email alerts when it moves.

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