(a) The official members of the board shall be:

1. (1) A member of the Governor’s cabinet, or his or her designee.
2. (2) One member of the Energy Commission, selected and appointed by the members of the Energy Commission.

(b) The public members of the board shall be:

1. (1) One member selected and appointed by the Senate Rules Committee.
2. (2) One member selected and appointed by the Speaker of the Assembly.

3. (3) Two members selected and appointed by the Governor as follows:

   1. (A) One member with a minimum three years’ experience as an owner, partner, officer, or employee of a California-based small business.
   2. (B) One member with a minimum three years’ experience as an officer or employee of a financial institution.