What’s Inside: Plan Update for University City in San Diego Reaches Major Milestone; Our Senate HELP Committee Roundtable in the Bay Area; State Budget Passes Both Houses of Legislature; Upcoming Events; and more.

San Diego’s University City Plan Update Reaches Major Milestone

The University Community Plan Update passed a major milestone when it was unanimously approved by San Diego City Council’s Land Use and Housing Committee on June 13. Biocom California has been participating in these conversations since their inception over five years ago —providing input on the evolution and needs of the life science industry, including additional workforce housing and flexibility for labs to be located closer to homes and amenities. Our staff, including Melanie Cohn, senior director of regional policy and government affairs, was present to speak in support of the plan as drafted (pictured below), which will dictate land use in the life science hub over the next 30 plus years. The plan now goes to full council by the end of July.

Federal Affairs

Biocom California Hosts Senate HELP Committee in Bay Area

On May 29, Biocom California held a roundtable in the Bay Area with Barrett Tenbarge, general counsel for the Senate Health, Education, Labor, and Pensions (HELP) Committee. The HELP Committee oversees the NIH and FDA and is responsible for much of the legislation guiding life science product development. The group had a great discussion on FDA’s regulatory framework and the challenges of small companies during the approval process.

Biocom California Submits Comments on USPTO Fee Schedule

On June 3, Biocom California submitted comments to the United States Patent and Trademark Office on their updated schedule of fees for Fiscal Year 2025, Setting and Adjusting Patent Fees During Fiscal Year 2025. The proposed fee structure contains several changes that would disproportionately impact the life sciences industry because of how our products are developed and patented. View a library of all previously submitted comments on our recently revamped Comment Letter page. 

State Affairs

Budget ‘Passed’—Negotiations to Mitigate Impact Continues

Both houses of the California Legislature passed the Budget Act of 2024 on June 13. The act functionally raises taxes on businesses by nearly $16 billion over the next three years by suspending the utilization of Net Operating Loss deduction for most companies, capping use of the state’s Research and Development credit, and requiring corporations to exclude foreign dividends from its apportionment factor formula. Budget negotiations between the governor and legislative leaders will continue for the next several weeks on bills that will implement the Budget Act. Biocom California and industry partners are working with the Administration on a trailer bill to mitigate impacts of the Budget Act deal by including a realistic annual trigger to reinstate tax incentives and including refundability for the credits over a three-year period following the suspension.

Regional Affairs

Greater Los Angeles

Biocom California’s Annual Greater LA Life Science Forum

Biocom California is hosting our third annual Greater Los Angeles Life Science Forum on July 18 in West LA. This conference unites local business leaders, industry companies, investors, elected officials and regional decision-makers to delve into the newest developments within the region’s life science sector. Our event will cap off with a networking reception and our Open House and Supplier Showcase. Learn more and register here.

LA Council Committee Approves Amended Budget Proposals

The Los Angeles City Council Budget Committee amended and subsequently approved Mayor Karen Bass’ $12.8 billion budget for 2024-25, focusing on public safety and essential services. Key changes from the previous draft include restoring over 185 positions, funding homelessness initiatives and increasing the reserve fund. Despite severe budget constraints, the committee avoided layoffs and balanced the budget.

Annual State of the County Address

Los Angeles County District 5 Supervisor Kathryn Barger addressed some of the key issues facing the Santa Clarita Valley and beyond at the annual State of the County luncheon. The event saw Supervisor Barger touch on topics such as mental health, homelessness, fire protection services and a need for more law enforcement officers.

Bay Area

Bay Area Companies Facing Potential Tax Increases

Five Bay Area cities are seeking to increase business taxes as they continue to face pandemic-related budget shortfalls. Policies are being considered for the November ballot in San Francisco, South San Francisco, Redwood City, Foster City and Belmont. South San Francisco is proposing changes to its current Business License Tax, whereas Redwood City and Belmont are looking to move toward a Gross Receipts Tax model. Foster City is reforming its current Gross Receipts Tax structure, and in San Francisco, biotech companies could see an 18% tax increase if approved by voters. Biocom California is actively engaged in advocating on behalf of our members in these cities. Please contact Bay Area Policy Manager Christy Shirilla with any questions.

New Speakers Series with City of SSF: What’s Happening East of 101?

Biocom California is excited to partner with the City of South San Francisco on the launch of “What’s Happening East of 101?”—a speaker series that aims to bridge the gap between South City residents and the vibrant biotech community east of Highway 101. Residents will gain insight into the important work life science companies are doing within their city limits—providing solutions for patients globally and right here at home. For more information, please reach out to Brandon Jenkins.

San Diego

Coaster Connection at Sorrento Valley Expands Under NCTD

The North County Transit District (NCTD) relaunched the Coaster Connection service, expanding routes from the Sorrento Valley Coaster Station to key employment centers such as UC San Diego and Torrey Pines. Biocom California policy staff spoke at the press conference marking the kickoff of the service and advocated in support of NCTD’s continuation of these services as it greatly benefits our members’ employees.

San Diego City Council Passes $5.8 Billion Budget

The San Diego City Council unanimously approved a $5.8 billion budget for 2024-25, reflecting a nearly 12% increase from the previous year. The budget, revised from Mayor Todd Gloria’s initial proposal, includes funds for equity programs and community services. Controversial allocations for a proposed shelter were debated but not finalized. The budget will be finalized with a second reading before June 30.

Public Policy Events

Upcoming Committee Meetings and Events

Please contact us if you are interested in joining a Biocom California committee and meet the committee requirements.

July 11 | An Update on IRA’s Medicare Drug Pricing Negotiation
July 18 | Greater LA Life Science Forum
July 25 | San Diego – Facilities Committee Meeting
July 30 | Bay Area – Regional Policy Committee Meeting
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Meet the Team