Small Business California has been busy at the Capitol this week.
AB 722 Perea. Yesterday, our crowd funding bill came up before the Assembly Judiciary committee. It passed 7 to 0. Lori and I testified in support. We are hoping to get the remaining 3 Assembly members to support and will know in the next couple days.
We did have to take some amendments including a prohibition of direct solicitation and a 72 hour cooling off period after someone has purchased securities.
We don’t see these amendments causing any problems, and we were surprised that there was a concern that people would be solicited door to door or in nursing homes.
Jeremy Smith from the State Building and Construction Trades Council of California [Union] testified in support. Jose Mejia from the Laborers Council [Union] could not make the hearing, but we have their support also.
It now goes to Judiciary.
AB 525 Holden/Atkins. This is the bill that levels the playing field for Franchisees. It passed 11 to 0 with two abstentions in Assembly Business and Professions. We are working with the SEIU [Union] on this bill. It now will go to Assembly Floor.
AB 1347 Chiu. This is the state prompt payment bill. It will be coming up today, and we expect passage. Lori will be testifying at Assembly Accountability and Review Committee. We are working in partnership with the Laborers Council. I believe this will go to Appropriation.
These three bills are a good example of Small Business California working with labor.
Small Business California
2311 Taraval Street
San Francisco, CA 94116