California 2019-2020 Regular Session Status: In Committee

AB 2504 — The Capital Access Loan Program.

Last action — Re-referred to Com. on B. & F.

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

This bill died with 2019-2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law establishes within the Capital Access Loan Program the California Americans with Disabilities Act Small Business Capitol Access Loan Program to assist small businesses in complying with the federal Americans with Disabilities Act of 1990, and the California Seismic Safety Capital Access Loan Program to assist qualified residential property owners and qualified small business owners in seismically retrofitting qualified buildings by covering losses on qualified loans for those purposes. Existing law requires the California Pollution Control Financing Authority to administer both programs, including adopting regulations and holding funds received for the programs, as specified. Existing law defines the term "qualified residential property owner" for purposes of the seismic retrofitting program to mean an owner of, or a qualified small business that owns, a residential building that is a qualified building, as specified. Existing law defines the term "loss reserve account" for purposes of both programs as an account established and maintained by the authority for the benefit of a financial institution participating in the Capital Access Loan Program from which, among other things, the authority's contributions for each enrolled loan are recaptured upon the maturation of the loan or after a period of years, as specified, from the date of enrollment and applied to future program and administrative expenditures. Existing law establishes the California American with Disabilities Act Small Business Capital Access Loan Program Fund and the California Seismic Safety Capital Access Loan Program Fund, both of which are continuously appropriated to the authority to carry out the purposes of these programs. This bill would expand the definition of a "qualified residential property owner" for purposes of the seismic retrofitting program to include a homeowners' association that owns a residential building that is a qualified building, and is authorized to seismically retrofit such a building. The bill would also authorize moneys in the California Seismic Safety Capitol Access Loan Program Fund to be used by the authority for incentives to borrowers. By expanding the purposes of a continuously appropriated fund, the bill would make an appropriation. The bill would clarify that the authority is required to contribute to, and to establish a minimum threshold for, the loss reserve account it creates for each lender that enrolls loans in either the California Americans with Disabilities Act Small Business Capital Access Loan Program or the California Seismic Safety Capital Access Loan Program. The bill also would make other conforming changes.

Bill Text

Action History

  1. Re-referred to Com. on B. & F.

  2. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

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

  4. From printer. May be heard in committee March 21.

  5. Read first time. To print.

Sponsors

  • Nazarian · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Nazarian

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"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

Subjects

public-safety housing labor
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Frequently asked questions

What does AB 2504 do?
Existing law establishes within the Capital Access Loan Program the California Americans with Disabilities Act Small Business Capitol Access Loan Program to assist small businesses in complying with the federal Americans with Disabilities Act of 1990, and the California Seismic Safety Capital Access Loan Program to assist qualified residential property owners and qualified small business owners in seismically retrofitting qualified buildings by covering losses on qualified loans for those purposes. Existing law requires the California Pollution Control Financing Authority to administer both programs, including adopting regulations and holding funds received for the programs, as specified. Existing law defines the term "qualified residential property owner" for purposes of the seismic retrofitting program to mean an owner of, or a qualified small business that owns, a residential building that is a qualified building, as specified. Existing law defines the term "loss reserve account" for purposes of both programs as an account established and maintained by the authority for the benefit of a financial institution participating in the Capital Access Loan Program from which, among other things, the authority's contributions for each enrolled loan are recaptured upon the maturation of the loan or after a period of years, as specified, from the date of enrollment and applied to future program and administrative expenditures. Existing law establishes the California American with Disabilities Act Small Business Capital Access Loan Program Fund and the California Seismic Safety Capital Access Loan Program Fund, both of which are continuously appropriated to the authority to carry out the purposes of these programs. This bill would expand the definition of a "qualified residential property owner" for purposes of the seismic retrofitting program to include a homeowners' association that owns a residential building that is a qualified building, and is authorized to seismically retrofit such a building. The bill would also authorize moneys in the California Seismic Safety Capitol Access Loan Program Fund to be used by the authority for incentives to borrowers. By expanding the purposes of a continuously appropriated fund, the bill would make an appropriation. The bill would clarify that the authority is required to contribute to, and to establish a minimum threshold for, the loss reserve account it creates for each lender that enrolls loans in either the California Americans with Disabilities Act Small Business Capital Access Loan Program or the California Seismic Safety Capital Access Loan Program. The bill also would make other conforming changes.
Who sponsors AB 2504?
AB 2504 is sponsored by Nazarian.
What is the current status of AB 2504?
This bill died with 2019-2020 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 2504?
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