18410.2.
(a) The California Competes Tax Credit Committee is hereby established. The committee shall consist of the Treasurer, the Director of Finance, and the Director of the Governor’s Office of Business and Economic Development, who shall serve as chair of the committee, or their designated representatives, and one appointee each by the Speaker of the Assembly and the Senate Committee on Rules. A Member of the Legislature shall not be appointed.(b) For purposes of Article 4.4 (commencing with Section 12096.6) of Chapter 1.6 of Part 2 of Division 3 of Title 2 of the Government Code and Sections 17059.2 and 23689, the California Competes Tax Credit Committee shall do all of the following:
(1) Approve or reject any written agreement for a tax credit or grant allocation by resolution at a duly noticed public meeting held in accordance with the Bagley-Keene Open Meeting Act (Article 9 (commencing with Section 11120) of Chapter 1 of Part 1 of Division 3 of Title 2 of the Government Code), but only after receipt of the fully executed written agreement between the taxpayer and the Governor’s Office of Business and Economic Development.
(2) Approve or reject any recommendation to recapture, in whole or in part, a tax credit or grant allocation by resolution at a duly noticed public meeting held in accordance with the Bagley-Keene Open Meeting Act (Article 9 (commencing with Section 11120) of Chapter 1 of Part 1 of Division 3 of Title 2 of the Government Code), but only after receipt of the recommendation from the Governor’s Office of Business and Economic Development pursuant to the terms of the fully executed written agreement.
(c) For (1) purposes of Article 4.4 (commencing with Section 12096.6) of Chapter 1.6 of Part 2 of Division 3 of Title 2 of the Government Code and Sections 17059.2 and 23689, the The Governor’s Office of Business and Economic Development shall provide a member of the committee, or their designated representatives, listed in subdivision (a), upon request of that member, with any information necessary to fulfill their duties or otherwise comply with the requirements of this section. Nothing in this subdivision shall be construed to require the Governor’s Office of Business and Economic Development to provide information to the member or their designated representative that the applicant considers to be a trade secret, confidential, privileged, or otherwise exempt from disclosure under the California Public Records Act (Division 10 (commencing with Section 7920.000) of Title 1 of the Government Code). conduct an outreach program for small businesses eligible for a credit allocation pursuant to Section 17059.2 or 23689 if all of the following occur:
(A) The Governor’s Office of Business and Economic Development is authorized to allocate credits pursuant to Sections 17059.2 and 23689 in the 2018–19 and 2019–20 fiscal years and a reservation for small businesses is in effect.
(B) In the 2018–19 fiscal year, the Governor’s Office of Business and Economic Development does not allocate to small businesses the full amount of the reservation of credits for small businesses.
(C) The Legislature, in the Budget Act or another bill, appropriates an amount from the General Fund to the Governor’s Office of Business and Economic Development to conduct an outreach program for small businesses eligible for a credit allocation pursuant to Section 17059.2 or 23689.
(2) On or before ____ months after the close of first fiscal year, the Governor’s Office of Business and Economic Development shall report to the Legislature the amount of unallocated credits reserved for small businesses. The report shall be submitted in compliance with Section 9795 of the Government Code. This paragraph shall become inoperative on January 1, 2023, pursuant to Section 10231.5 of the Government Code.