California Demonstration of Emerging Market Opportunities Act.

The Governor's Office of Business and Economic Development serves as the Governor's lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. The office, among others, makes recommendations to the Governor and the Legislature regarding policies, programs, and actions to advance statewide economic goals. Commencing January 1, 2014, this bill would require the office to implement and administer the California Demonstration of Emerging Market Opportunities Act, which would allow state agencies to enter into demonstration agreements, as defined, with specified businesses and nonprofit organizations, as defined, to test, evaluate, or demonstrate innovative solutions pursuant to demonstration projects and pilot projects, as defined. The bill would prohibit the office from approving more than 10 demonstration agreements per year. The bill would authorize an agency to assess a fine of up to $10,000 against a business or nonprofit organization that falsifies or fails to disclose information in connection with a project, as specified. These provisions would be repealed as of January 1, 2019.