Small Business Recovery Fund Act.
What changed between versions
Section 12100.83(a) now begins with 'Upon appropriation by the Legislature for purposes of this article,' making OSBA's allocation and administration of the fund contingent on a legislative act of appropriation rather than automatic upon enactment. The digest's appropriation line also changed from 'yes' to 'no,' reflecting that the bill no longer contains an immediate, unconditional appropriation.
The definition of 'qualified nonprofit organization' in Section 12100.85(a)(2) was simplified. The old version required a 'private, nonprofit organization that qualifies for exempt status under Section 501(c)(3) of the United States Internal Revenue Code of 1986.' The new version simply requires 'a nonprofit organization that is either exempt from federal income taxation pursuant to Section 501(c)(3) of the Internal Revenue Code or exempt from state income taxation under Section 23701d of the Revenue and Taxation Code,' removing the 'private' qualifier and the 'qualifies for exempt status' language, which slightly broadens who can apply.
The program name in Section 12100.88(a)(2) was corrected from 'Capitol Capital Infusion Program' to 'Capital Infusion Program,' removing the erroneous word 'Capitol.'
The vote requirement in the digest was clarified from '2/3' to '2/3 majority.'