§ 12096.6.4. — 12096.6.4. (Added by Stats. 2021, Ch. 74, Sec. 1.)

California § 12096.6.4.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 3.
• Title 2.: DIVISION 3. EXECUTIVE DEPARTMENT
• Part 2.: PART 2. CONSTITUTIONAL OFFICERS
• Ch. 1.6.: CHAPTER 1.6. Governor’s Office of Business and Economic Development
• Art. 4.4.: ARTICLE 4.4. California Competes Grant Program

Text

(a)
GO-Biz shall do all of the following:
(1)
Negotiate with a qualified grantee the terms and conditions of proposed written agreements that provide the grant allowed pursuant to this article to a qualified grantee.
(2)
Provide the negotiated written agreement to the committee for its approval pursuant to Section 18410.2 of the Revenue and Taxation Code.
(3)
Post on its internet website all of the following:
(A)
The name of each qualified grantee allocated a grant.
(B)
The estimated
amount of the investment by each qualified grantee.
(C)
The estimated number of jobs created or retained.
(D)
The amount of the grant approved for the qualified grantee.
(E)
The amount of the grant recaptured from the qualified grantee, if applicable.
(F)
The primary location where the grantee has committed to increasing the net number of jobs or making investments. The primary location shall be listed by city or, in the case of unincorporated areas, by county.
(b)
The Franchise Tax Board shall do both of the following:
(1)
Review the books and records of all qualified grantees allocated a grant pursuant to this section to
ensure compliance with the terms and conditions of the written agreement between the qualified grantee and GO-Biz.
(2)
Notwithstanding Section 19542 of the Revenue and Taxation Code, notify GO-Biz of a possible breach of the written agreement by a qualified grantee and provide detailed information regarding the basis for that determination.

Legislative History

Added by Stats. 2021, Ch. 74, Sec. 1. (SB 151) Effective July 12, 2021. Repealed as of January 1, 2030, pursuant to Section 12096.6.6.