International trade and investment office: Republic of Armenia.

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 authorizes the director of GO-Biz to establish and terminate international trade and investment offices outside of the United States as the director determines is appropriate, if specific requirements are met. Existing law establishes the Economic Development and Trade Promotion Account, a continuously appropriated account, to accept private moneys to fund international trade and investment offices. Existing law prohibits a donor from donating in a calendar year more than 25% of the annual budget of an international trade and investment office operated under contract with a nonprofit entity, and requires GO-Biz to post a specified report on its internet website within 30 days of receiving a donation to fund an international trade and investment office operated under contract with a nonprofit entity. This bill would require the director of GO-Biz, on or before January 1, 2023, to establish and operate, to contract with a nonprofit entity to establish and operate, to create a public-private partnership to establish and operate, or otherwise provide for the operation of, an international trade and investment office in Yerevan, in the Republic of Armenia. The bill would require the director of GO-Biz to include information regarding the Yerevan trade and investment office in existing reporting requirements relating to an International Trade and Investment Program, as specified. The bill would establish the Armenia Trade and Investment Office Account as a separate subaccount within the Economic Development and Trade Promotion Account and would require GO-Biz to accept and administer private sector moneys specified for the Yerevan trade and investment office or international trade and investment activities through this account. The bill would restrict the use of the funds in this account to the establishment or operation of that office, as specified, or the undertaking of international trade and investment events through that office, and would make these funds available upon appropriation by the Legislature. This bill would require the Yerevan trade and investment office to, among other things, promote the export of California goods and services into the Republic of Armenia and facilitate access to educational exchange programs between California and the Republic of Armenia. This bill would apply the above-described provisions relating to donations to fund an international trade and investment office operated under contract with a nonprofit entity to a Yerevan trade and investment office operated under contract with a nonprofit entity.