The LAO released a curious document this week. They’ve been doing a lot of thinking about Facebook. On the one hand, who doesn’t spend a lot of time thinking about Facebook? But they’re doing it during working hours, unlike all of you, no doubt. They’ve been wondering how much this week’s IPO means in revenue [...]
California is now 69 days into the fiscal year without a state budget – the second longest delay in state history. The longest delay was in 2008 when the Legislature acted on September 19 and the Governor signed the budget on September 23. This Legislature appears to be fighting to be #
Californians awoke this morning to a new legislative environment – one in which the Legislature is limited in its ability to act on new legislation to measures that are urgency matters, include a tax levy, call for an election, or override the Governor’s veto. The 2009-10 Legislature concluded its regular business at midnight and now is in Final Recess.
CSAC releases this year’s ERAF/Prop. 172 survey, which reflects the expectation of a statewide property tax decline and the $5.65 billion counties contribute to the state’s General Fund. And Prop. 172 allocations are falling even more dramatically.
A key component to last week’s final action on the state budget was the passage of SB 71, a bill that provides for a sales tax exclusion for “green technology” projects in California. SB 71, authored by Senator Alex Padilla, and championed by Governor Schwarzenegger, authorizes the California Alternative Energy and Advanced Transportation Financing Authority [...]