Asm. Tom Daly

Existing law, the Corporate Securities Law of 1968, requires certain securities offered or sold in this state to be qualified through application filed with the Commissioner of Corporations, or to be exempt from the qualification requirements. Existing law exempts offers and sales of securities in specified transactions including, but not limited to, offers made to no more than 35 persons, excluding accredited investors, as defined by reference to Regulation D promulgated under the federal Securities Act of 1933, as amended, to include specified minimum net worth and income requirements for prospective investors. This bill would exempt from qualification offerings or sales of securities using a general solicitation or general advertising, provided the transaction meets specified requirements, including a requirement that the sales are made to accredited investors and the aggregate offering price of securities, as defined by reference to Regulation D, does not exceed $1,000,000, less the aggregate offering price for all securities sold within 12 months, as specified.

The Personal Income Tax Law and the Corporation Tax Law authorize various deductions in computing income that is subject to tax under those laws. This bill would allow a deduction, under both of those laws, of amounts paid under the Mello-Roos Community Facilities Act of 1982. This bill would take effect immediately as a tax levy.

Existing law requires the Board of Equalization to annually report to the Governor the assessed value of a state-assessed and locally assessed real and personal property in each county, as specified; information concerning other taxes that the board administers, and any further information and suggestions as the board deems proper. This bill would additionally require the board to annually report specified information relating to the imposition of locally assessed parcel taxes, including, among other things, the type and rate of a parcel tax and the number of parcels subject to or exempt from the parcel tax.

The Enterprise Zone Act provides for the designation and oversight by the Department of Housing and Community Development of various types of economic development areas throughout the state, including enterprise zones, targeted tax areas, and manufacturing enhancement areas, collectively known as geographically targeted economic development areas, or G-TEDAs. Pursuant to these provisions, qualifying entities in those areas may receive certain tax and regulatory incentives. This bill would revise various definitions for purposes of the act and modify specified requirements for designating and administering enterprise zones and G-TEDAs, collectively. The bill would impose new requirements on the Department of Housing and Community Development with respect to the enterprise zone program and modify department and Franchise Tax Board reporting requirements. Existing law, the Enterprise Zone Act, authorizes the Department of Housing and Community Development to assess a fee of not more than $15 on each enterprise zone and manufacturing enhancement area for each application for issuance of a certificate pursuant to specified tax credit provisions. This bill would instead authorize the department to charge a fee for those applications not to exceed the reasonable cost of administering the Enterprise Zone Act, but not to exceed $20. The bill would require any increase in the fee higher than the amount that was charged by the department as of January 1, 2014, to be adopted by regulation. This bill would declare that it is to take effect immediately as an urgency statute.

(1) The Economic Revitalization Act establishes the Governor's Office of Business and Economic Development, also known as "GO-Biz," to, among other duties, serve the Governor as the lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. Existing law establishes the California Economic Development Fund holding funds that, upon appropriation by the Legislature, GO-Biz may use for economic development purposes, as specified. This bill would create the California Innovation Hub Program (iHub Program) within GO-Biz to create regional offices that would provide specialized counseling, training, and networking services to assist entrepreneurs establish and grow businesses for local and in-state job retention, creation, and future expansion. This bill would authorize GO-Biz, in collaboration with the Department of General Services, to identify unoccupied and underutilized real property owned or leased by the state, and use that real property to support the iHub Program, as specified. This bill would modify the California Economic Development Fund to be a continuously appropriated fund for the economic development purposes of GO-Biz, and in doing so, would make an appropriation. (2) The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including a credit for certain research and development expenses, as provided. This bill would, for taxable years commencing on and after January 1, 2014, and before January 1, 2019, increase the credit for research and development expenses, as provided. (3) This bill would provide that the provisions of this bill are severable. (4) This bill would declare that it is to take effect immediately as an urgency statute.

The Real Estate Law provides for the regulation and licensure of real estate brokers and real estate salespersons by the Real Estate Commissioner. Existing law requires the Attorney General, subject to exception, to act as the attorney for the commissioner in actions and proceedings brought by or against the commissioner under or pursuant to the Real Estate Law or the Subdivided Lands Law, as specified. Existing law authorizes the commission to apply to the superior court, by noticed motion, for an order requiring a real estate licensee who has refused to obey a subpoena issued to the licensee by the commissioner to appear before the commissioner, or other representative, as specified. This bill would recast these provisions to require the Attorney General to act as the attorney for the commissioner in actions and proceedings brought by or against the commissioner under or pursuant to the Real Estate Law or the Subdivided Lands Law upon request of the commissioner in civil and criminal courts. The bill would authorize the commissioner to prosecute administrative actions and proceedings to enforce the provisions and pursue violations of the Real Estate Law and the Subdivided Lands Law, would require the commissioner to employ attorneys, deputies, and other employees for those purposes, and would require the Attorney General to act as attorney for the commissioner in those instances, upon request of the commissioner. The bill would require the commissioner to act through the commissioner's attorneys or attorneys employed by the Attorney General in seeking an order to appear for a licensee who has refused to obey a subpoena, as specified, and clarify that the order pertains to compliance with an administrative subpoena.

This measure would designate that January 20, 2014, be observed as the official memorial of the late Dr. Martin Luther King, Jr.'s birth and commemorate Martin Luther King, Jr. Day and the work of Dr. Martin Luther King, Jr. and the Civil Rights Movement in changing public policy in California and in the United States of America. This measure would also recognize the anniversaries of the Emancipation Proclamation and the March on Washington in connection with the advancement of civil rights.

Existing law, the Veterans' Bond Act of 2008, as approved by the voters, authorizes the issuance of bonds in the amount of $900,000,000, pursuant to the State General Obligation Bond Law, for purposes of financing the Cal-Vet program for farm, home, and mobilehome purchase assistance for veterans. This bill would amend the Veterans' Bond Act of 2008 to reduce the amount of bonds that are authorized to be issued under the act from $900,000,000 to $300,000,000. The bill would enact the Veterans Housing and Homeless Prevention Bond Act of 2014 (the bond act) to authorize the issuance of bonds in the amount of $600,000,000, as specified, for expenditure by the California Housing Finance Agency, the Department of Housing and Community Development, and the Department of Veterans Affairs to provide multifamily housing to veterans pursuant to the Veterans Housing and Homeless Prevention Act of 2014 (VHHPA) , also enacted by the bill. The bill would authorize the Legislature to amend the provisions of the bond act, by majority vote, for specified purposes. The bill would impose a specified reporting requirement on the Department of Housing and Community Development to evaluate, in collaboration with the Department of Veterans Affairs, any program established by the former pursuant to the VHHPA. The bill would authorize the Department of Housing and Community Development to provide specified assistance to veterans. The bill would provide for submission of a specified section to the voters at the June 3, 2014, statewide primary election, as specified. This bill would declare that it is to take effect immediately as an urgency statute.