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SAWHORSE
Assembly clears bill providing small business loans for ADA compliance
Jun 2, 2015
Allen Young
Sacramento Business Journal
http://www.bizjournals.com/sacramento/news/2015/06/02/assembly-clears-bill-providing-small-business.html
The state Assembly passed a bill Tuesday that would set up a new loan program for small businesses for helping with facility upgrades related to the federal Americans with Disabilities Act.
The legislation would initiate a one-time transfer of $50 million from the state general fund into a loan account for small businesses. A seven-member state board would determine which businesses receive the loans each year. Individual loans would be between $50,000 and $75,000, said Assemblyman Jimmy Gomez, the bill's author.
"This is part of the solution to deal with ADA compliance and ADA lawsuits. This doesn't solve the whole problem; it is one part of the equation," said Gomez, an Echo Park Democrat.
The loan program established under Assembly Bill 1230 would be self-sustaining through the interest on loan repayments. The amount of interest on the loans has not yet been determined, nor the criteria the state panel would use to determine which businesses receive loans, Gomez said.
Assembly Bill 1230 is supported by Disability Rights California and the California Small Business Association, and does not have any opposition.
Jun 2, 2015
Allen Young
Sacramento Business Journal
http://www.bizjournals.com/sacramento/news/2015/06/02/assembly-clears-bill-providing-small-business.html
The state Assembly passed a bill Tuesday that would set up a new loan program for small businesses for helping with facility upgrades related to the federal Americans with Disabilities Act.
The legislation would initiate a one-time transfer of $50 million from the state general fund into a loan account for small businesses. A seven-member state board would determine which businesses receive the loans each year. Individual loans would be between $50,000 and $75,000, said Assemblyman Jimmy Gomez, the bill's author.
"This is part of the solution to deal with ADA compliance and ADA lawsuits. This doesn't solve the whole problem; it is one part of the equation," said Gomez, an Echo Park Democrat.
The loan program established under Assembly Bill 1230 would be self-sustaining through the interest on loan repayments. The amount of interest on the loans has not yet been determined, nor the criteria the state panel would use to determine which businesses receive loans, Gomez said.
Assembly Bill 1230 is supported by Disability Rights California and the California Small Business Association, and does not have any opposition.
