Capital Programs and Climate Financing Authority Act: California Investment and Innovation Program.

Summary

The bill establishes the Capital Programs and Climate Financing Authority, which can set up small‑business assistance funds to provide loans, guarantees, fee‑based support, and grants for pollution‑control, brownfield cleanup, and capital‑access programs. It also creates a grant program for community‑development financial institutions to aid disadvantaged communities. The measure eliminates the existing Bank on California provisions.

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