63089.96.
(a) In addition to the authority granted by Section 63089.95, pursuant to the directives and requirements a corporation may act as guarantor on a surety bond for any small business contractor, including, but not limited to, women, minority, disabled veteran, and disadvantaged business enterprise contractors.(b) The provisions of subdivision (a) allowing a corporation to act as a guarantor on surety bonds may be funded through appropriate state or federal funding sources. Federal funds shall be deposited in the Federal Trust Fund in the State Treasury in accordance with Section 16360, for transfer to the expansion fund.
(c) The surety bond program shall include technical assistance to a participating contractor. Technical assistance provided pursuant to this section shall include, but is not limited to, all of the following:
(1) Assessment and identification of the particular barriers facing the participating contractor and development of solutions to those barriers. Activities pursuant to this paragraph may include the following:
(A) Assessments by surety and construction experts.
(B) Development of a business plan.
(C) Workshops addressing contractor bonding, bidding on state projects, job safety, and other topics that would be beneficial to the participating
contractor.
(D) Project field support.
(2) Identification of, and assistance in obtaining, other financial support and resources. Activities pursuant to this paragraph may include the following:
(A) Linkages with accountants, brokers, and surety companies committed to helping contractors build bonding and organizational capacity.
(B) Prequalifications for additional assistance.
(C) Collateral guarantees.
(d) In implementing a surety bond program pursuant to this chapter, the bank may:
(1) Assign all or part of the program to another state entity that agrees to implement the program consistent with this chapter and the directives and requirements adopted by the bank. If the bank assigns all or a part of the program to another state entity, the bank shall retain responsibility for reporting on the use and outcomes of the program, pursuant to Section 63089.98.
(2) Establish one or more pilot projects before approving directives and guidelines for a statewide surety bond and small contractor assistance program.
(3) Establish one or more nonstate contracts, to the extent deemed necessary by the bank, based on there being an insufficient number of corporations
interested in, and qualified to, implement a surety bond program, including the technical assistance required in subdivision (c). These contractors shall be subject to the applicable reporting requirements of this chapter, Section 63089.97, and any other directive or requirement set by the bank.