Democrats in the California state legislature are pushing for the renewal of a bill that proponents hope will boost the state's renewable energy market, while rejuvenating the small business sector and further establishing California as the nation's leader in green technology development and implementation.
The main subject of the bill, introduced by Assembly Speaker John Perez and Senate President pro temp Darrell Steinberg last week, will require state utilities to acquire one-third of their energy from renewable sources by 2020 - a measure that was passed by the state legislature in 2009, but summarily vetoed by then-Governor Arnold Schwarzenegger.
Advocates of the bill argue it will stimulate innovation and entrepreneurship in the green tech sector and increase the number of clean energy startups looking to incorporate in California.
"Everyone is watching us," Thomas Steyer, founder of the hedge fund Farallon Capital Management, told the Associated Press. "We're going to be the test case, and in fact the kinds of policies these legislators are trying to pass are critical for us to be able to get the private sector going, to create the businesses, to create the jobs and to show the country and the world that this can be done."
Tags : business licenses & permits, ca, incorporation news, small business management
Posted: Feb 7th, 2011