Plain English Breakdown
The official source confirms the bill is enacted (Chaptered) but does not provide a specific effective date.
AB-940: Creating Industry Growth Plans
This law requires the Governor's Office of Business and Economic Development to create detailed growth plans for key industries, with a special focus on quantum technology.
What This Bill Does
- Requires GO-Biz to develop industry strategies for strategic sectors listed in the California Jobs First State Economic Blueprint.
- Mandates that each strategy includes an overview of the current state of the industry and explains why it is critical to California.
- Outlines activities and investments needed to ensure these industries continue to grow, specifically aiming to increase jobs and capital investments.
- Requires GO-Biz to prioritize creating a specific plan for the quantum technology subsector identified in the blueprint.
- Sets a deadline of July 1, 2026, for submitting the completed quantum technology strategy to the Legislature.
Who It Names or Affects
- The Governor's Office of Business and Economic Development (GO-Biz)
- Industries identified in the California Jobs First State Economic Blueprint
- The state Legislature
Terms To Know
- GO-Biz
- Short for the Governor's Office of Business and Economic Development, which leads economic strategy.
- California Jobs First State Economic Blueprint
- A state plan that identifies key industries to focus on for growth.
- Quantum technology subsector
- A specific area of industry identified in the blueprint focused on quantum technology.
Limits and Unknowns
- The law requires a plan only for the quantum technology subsector; plans for other subsectors are authorized but not required.
- The provided text does not list which specific industries or subsectors are included in the blueprint besides quantum technology.