On April 9, 2019, the CalAsian Chamber hosted its 10th Annual Legislative Summit and Reception.
Summit Keynote Speaker Director Lenny Mendonca touched upon the importance of inclusive economic development, stating that “economic outreach and business success is about reflecting the diversity and scale of California...We are going to focus on the needs of the different geographies, demographics, and needs across the state."
Moderator Pat Fong Kushida of CalAsian Chamber, panelists Chief Lori Ajax, Director Daniel Kim, Chief Consultant Toni Symonds and Senate Housing Committee Consultant Alison Hughes explored the value of being involved in the legislative process and the importance of the small business voice in California. During the conversation, Director Daniel Kim indicated that “what’s good for small business is good for California.”
Speaker of the Assembly Anthony Rendon offered our group a private photo opportunity at the Assembly Chambers. The group then participated in a guided tour of the Capitol building.
During their Capitol meetings, participants met with offices regarding bills around the following issues: housing, cannabis, and small business advocacy.
Small business: support for bill requiring insurers that receive over $100 million in premiums to biannually disclose their supplier diversity to the Department of Insurance; support for bill incorporating CalCAP under iBank to safeguard the loan loss program.
Housing: support of bill increasing the state Low-Income Housing Tax Credit Program by $500 million that developers use to to construct or rehabilitate affordable homes; support for bill relieving the housing shortage in California by changing the way localities approve housing developments in areas near transit and job centers like Silicon Valley.
Cannabis: support for bill authorizing the creating limited charter banks and credit unions, authorizing the use of special purpose checks for certain purposes; support for bill reducing the excise tax rate on cannabis and cannabis products from 15% to 11%.
During the Reception, Keynote Speaker State Controller Betty Yee highlighted that California needs to “reimagine what work will look like, given new opportunities and how the economy is changing.” Controller Yee emphasized that now is a great time to invest in human capital, housing, and resources to keep businesses in California.
Thank you to the elected officials that were in attendance:
· Antonio Vasquez, Board of Equalization
· Betty Yee, State Controller
· Asm. David Chiu
· Asm. Al Muratsuchi
· Asm. Kansen Chu
· Asm. Steven Choi
· Asm. Vince Fong
· Asm. Melissa Melendez
See more from this event here!