Small Business Majority, as part of the Responsible Business Lending Coalition, submitted comments to the Department of Business Oversight regarding implementation of California's SB 1235, the nation's first truth in lending law for small business financing. We urged the Department to implement strong standards that will ensure small business owners have the opportunity to understand the financing they are being offered in a clear, concise manner that enables informed comparison across all their financing options.
Small Business Majority and California Association for Micro Enterprise Opportunity (CAMEO) write in support of Governor Newsom’s proposal to expand the CalEITC program, which will benefit many self-employed entrepreneurs. Governor Newsom’s budget proposal would expand the CalEITC program to individuals making up to $30,000 annually, a limit that would ensure many low-income solo entrepreneurs are eligible.
Small Business Majority submitted comments in support of California's AB 1790, which clarifies regulations for online e-commerce marketplaces regarding the collection and use of funds belonging to small business sellers on these marketplaces. The comments explained how clarifying these regulations will reduce administrative burden on small businesses selling goods and services online.
Small Business Majority writes in support of AB 414 and SB 175 which would reinstate a penalty for lacking coverage in California and grant Covered California the ability to set this penalty amount. This will prevent the predicted increases in healthcare costs and uninsured rates in California, directly benefitting small businesses who struggle to keep up with the high costs of healthcare.
Small Business Majority writes in support of SB 65, which extend tax credits to individuals struggling to access affordable healthcare. The legislation would significantly improve affordability for thousands of low- and moderate-income individuals and families, including many entrepreneurs and small business employees by creating and increasing subsidies for individuals who earn up to 600% FPL.
Small Business Majority writes in support of AB 4, which would extend MediCal, which provides healthcare to qualified low-income individuals, to all individuals who would be otherwise eligible if not for their immigration status. Extending this coverage would drastically decrease the number of remaining uninsured in the state, as roughly 1.4 million undocumented Californians are without healthcare coverage (half of the total uninsured).
Small Business Majority writes in support of AB 1611 concerning out-of-network emergency room bills, or surprise billing. The legislation would extend protections for consumers receiving emergency care and ensure that they are not billed for more than their in-network cost sharing responsibilities. Additionally, AB 1611 will help control overall costs by preventing hospitals from setting payment higher than 150% of the Medicare rate or the average contracted rate paid by the specific health insurer for the same services in the same region.
Small Business Majority writes in support of SB 534, which encourages supplier diversity across insurance industries in California, creating opportunities for minority-owned small businesses. Minority small business ownership is growing at a significantly higher rate than other small businesses, and diverse entrepreneurs in particular represent enormous economic power within California. This legislation will ensure more dollars spent by California’s insurance companies go to businesses owned by diverse entrepreneurs, strengthening the state's economy overall.
Small Business Majority writes in support of AB 1577, which would encourage increased local partnerships between public agencies and technical assistance providers to microenterprises. Increased partnership between government agencies and technical assistance centers will encourage vital investment in California’s job creators and chief exporters, particularly helping women entrepreneurs and entrepreneurs of color. Indeed, increasing input from microenterprise development agencies into government programs will improve effectiveness of government programs.
Small Business Majority writes in support of AB 539, the Fair Access to Credit Act, which would eliminate the practice of charging unaffordable interest rates on consumer loans between $2,500 and $10,000. The legislation would protect small business borrowers from the predatory practices of triple-digit lenders, and as a result, greatly benefit entrepreneurs and small businesses in California that rely on consumer loans to grow their businesses.