Great news! The Assembly Business and Professions Committee on April 5 unanimously passed AB 2611, FBA’s sponsored bill to create in statute a definition of a family-owned business. A uniform clear definition will provide many benefits, including that it would provide one definition that can be referenced by local municipalities that want to promote family-owned businesses within their local jurisdictions. You can read more about the bill here.
Thanks to the bill’s author, Assembly Member Tom Daly of Anaheim, committee Chair Marc Berman of Palo Alto, Vice Chair Heath Flora of Ripon, and the other committee members for voting for our measure.
The measure is now pending before the full Assembly.