Existing law establishes procedures for the formation of infrastructure financing districts, enhanced infrastructure financing districts, infrastructure and revitalization financing districts, and community revitalization and investment authorities, as specified, to undertake various economic development projects, including financing public facilities and infrastructure, affordable housing, and economic revitalization.
This bill would authorize the establishment of a Quantum Innovation Zone by two or more cities and counties upon the adoption of a resolution by the legislative body of each city and county that states the intent of the city or county to participate in the Quantum Innovation Zone. The bill would require a Quantum Innovation Zone to be governed by a board of directors with a specified membership. The bill would task a Quantum Innovation Zone with various duties, including, among other things, identification of projects and programs that will best utilize public dollars and improve the economic vitality of the Quantum Innovation Zone in a coordinated effort to support the development of the quantum computing economy.
The bill would require a Quantum Innovation Zone to create and maintain an internet website that is managed and updated by an entity designated by the board of directors, would require the board of directors to appoint a steering committee to produce a report each year gauging the progress of the zone, and would require the report to be posted on the zone's internet website, as specified.

Statutes affected:
AB 940: 22581 BPC
02/19/25 - Introduced: 22581 BPC
03/24/25 - Amended Assembly: 22581 BPC