Invitation for Preliminary Comments on California Investment & Innovation Program (Cal IIP) Regulations (07.05.23 to 07.28.23) |
Background
The Legislature established the California Investment & Innovation Program (Cal IIP) to provide grants to enhance the capacity of community development financial institutions (CDFIs) to provide technical assistance and capital access to economically disadvantaged communities in California1. CDFIs are a critical partner of the state in addressing short-term and long-term needs of low- and moderate-income communities in the areas of affordable housing, health care, small business lending, economic development, and more.
The legislation is chaptered in statute as Health & Safety Code, §§ 44558 – 44558.5 . It designates the California Pollution Control Financing Authority (CPCFA), under the State Treasurer’s Office (STO), to administer Cal IIP. CPCFA is required to establish rules and regulations necessary to implement Cal IIP2.
CPCFA must develop an application process, develop criteria to adjust the size of awards, adopt guidelines for annual reporting, and develop any other rule necessary to implement the program3. Other elements of the program are determined by the statute and therefore are not part of the rulemaking process.
Invitation for Comments
In accordance with Government Code §§ 11346, subdivision (b), and 11346.45, CPCFA seeks input from stakeholders in developing regulations for Cal IIP.
The public is invited to submit comments related to any issue regarding the implementation of the Cal IIP grant program. CPCFA encourages stakeholders to review CPCFA’s draft regulations and propose specific edits or additional language.
This invitation for comments is not a proposed rulemaking action under Government Code § 11346. This invitation for comments is part of CPCFA’s preliminary rulemaking activities under Government Code § 11346, subdivision (b). The public will have the opportunity to provide additional comments on any proposed regulations or modifications when CPCFA proceeds with a notice of proposed rulemaking action.
Two Methods for Providing Comments
- Comments may be submitted in writing, via email or U.S. Postal Service, from July 5 to July 28, 2023.
- CPCFA will hold a virtual public forum on July 25, 2023, at 2:00 p.m.
- Please note that all comments are public records.
- Please see details below on each method.
Comments Submitted in Writing
You may submit comments by the following means:
- Email Comments may be submitted electronically to caliip@treasurer.ca.gov. Please include “public comment” in the subject line.
- U.S. Postal Service
Comments may be submitted by mail to
CPCFA: Cal IIP
P.O. Box 942809
Sacramento, CA 94209-0001
Virtual Public Forum
The virtual public forum will be held Tuesday, July 25, 2023, from 2:00 to 3:00 PM (PST).
Stakeholders may make comments jointly, or individually. Program staff will be available to answer questions.
Please use this link to register:
https://events.gcc.teams.microsoft.com/event/99a7d407-a041-435c-841d-ce53c2fecc79@3bee5c8a-6cb4-4c10-a77b-cd2eaeb7534e
Contact Person
Andrea Gonzalez is the contact person and can be reached at caliip@treasurer.ca.gov or 916.654.5610.
Further Information
Information regarding the rulemaking process will be posted to https://treasurer.ca.gov/cpcfa/caliip/index.asp
To receive email notifications of future rulemaking activities, please e-mail: caliip@treasurer.ca.gov
1Health & Safe. Code, § 44558.1, subd. (a)(1).
2Health & Safe. Code, § 44558.4.
3Health & Safe. Code, §§ 44558.1, 44558.2, 44558.5.