The Governor of California, Arnold Schwarzenegger, enacts legislation that creates the country's first state health insurance Exchange under health reform law. According to the Office of the Governor, The Exchange "will be governed by a five-member board appointed by the Governor and the legislature. Between now and the end of 2013, the Exchange board and staff will develop procedures and criteria to enroll Californians in the Exchange and select qualified health plans to participate." Along with providing detailed information to consumers about each insurance plan under the exchange, the law will also set up the Small Business Health Options Program, which will "assist qualified small employers in facilitating the enrollment of their employees in qualified health plans offered through the Exchange in the small employer market." The law also establishes a working budget of $5 million to establish and operate the exchange. The Insure the Uninsured Project has a summary of the new legislation, along with some background information.