Help for CA Small Businesses
I have great news to share!
After working with our local chambers of commerce last year, I joined forces with Senators Borgeas and Caballero to author Senate Bill 74, the Keep California Working Act. Together, we garnered support from more than half the Legislature and more than 80 chambers, cities, counties and business associations to provide a lifeline to California small businesses and nonprofits.
Last week the momentum generated by SB 74 successfully pushed Governor Gavin Newsom and legislative leadership to include an additional $2.1 billion in economic relief for small businesses and nonprofits in an emergency budget measure I’ve co-authored, Senate Bill 87.
This emergency budget agreement includes:
- $2.1 billion for small business and nonprofit relief grants
- Grants for small businesses and nonprofits up to $25,000
- $50 million set aside for cultural institutions
The COVID-19 pandemic has been absolutely devastating for small businesses, nonprofits and workers all across our state. Thousands of our local small businesses have already closed their doors forever, and hundreds of thousands more are teetering on the brink.
The unanimous passage of SB 87 is a testament to the Legislature’s dedication to California small businesses and nonprofits (VIDEO).
If you are small business or nonprofit and would like to apply for a grant, please visit CAReliefGrant.com.
In some more good news, the California Legislature is poised to pass a bill to conform California tax law to federal tax treatment for loans provided through the Paycheck Protection Plan, allowing companies to deduct up to $150,000 in expenses covered by the PPP loan. All businesses that took out loans of $150,000 or less would be able to maximize their deduction for state purposes. If you want to stay updated on this issue, please reply and we will notify you with more news!
As your Assemblywoman, I am committed to advancing critical legislative priorities on your behalf. Our work to help businesses get back on their feet isn’t finished yet. I am working every day to speed up vaccine distribution, safely reopen schools and set California’s economy on a path to recovery.
If you're in need of state assistance, please do not hesitate to sign up for office hours and reach out if you need to make arrangements for an alternative time. We would love to hear from you, contact me with issues or questions any time.