Foreign trade and investment.

Existing law authorizes a public corporation, as defined, or any private corporation, to apply for the privilege of establishing, operating, and maintaining a foreign-trade zone in accordance with federal law and to exercise specified powers related thereto, as specified. The bill would make clarifying and nonsubstantive changes to these provisions. Existing law establishes the California Foreign Investment Program, which requires the Governor's Office of Business and Economic Development to serve as the lead state entity for overseeing the state's participation with the United States Citizenship and Immigration Services' EB-5 Investment Program. This bill would renumber these provisions and make nonsubstantive conforming changes.