SACRAMENTO – Assemblymember Jose Medina (D-Riverside) today announced support for Assembly Bill 113 (AB 113) which will reduce unnecessary delays for California businesses when filing documents with the Secretary of State's office. AB 113 passed the Assembly today and will continue on to the state Senate.
"The passage of AB 113 will shorten the time it takes to open a new business," said Medina. "As we recover from the recession, it is important to streamline a process that has become unreasonable at best and encourage the creation of innovative new businesses."
Currently, the processing time for new businesses can take nearly three months (85 days). AB 113 will provide a $2 million appropriation increase in the Secretary of State's budget for staff resources which will expedite the processing of 122,000 backlogged business filing documents.
The increase in spending does not come from the state's general fund; rather the funds are allocated from fees collected with the business filings.
Assemblymember Medina proudly represents California's 61st Assembly District, which consists of Riverside, Moreno Valley, and Perris.