Department of Finance – Page 4

CA Legislature Passes Budget Ensuring They Get Paid, But Still Need Agreement With Gov. Newsom

June 15, 2021 2:19 amJune 15, 2021 6:25 am

The California Legislature passed their version of the state budget on Monday, barely meeting the June 15th deadline to pass a state spending plan. Assembly Bill 128, also known as the Budget Act of 2021, list out a $267.1 billion...

Department of Finance Estimates 2021 Recall to Cost California At Least $215 Million

June 11, 2021 2:31 amJune 11, 2021 7:55 am

A new projection by the state Department of Finance released on Thursday estimated that the 2021 California Governor recall election will cost the state at least $215 million this year, about half of previous estimates. Following the 30-days to remove...

California’s Population Fell By 182,000 in 2020 According to New Department of Finance Study

May 8, 2021 2:20 amMay 10, 2021 1:14 pm

According to a new report released Friday by the California Department of Finance, California’s population fell by 182,000 people last year, the state’s first yearly population loss since first becoming a state in 1850. The overall growth rate of -0.46%...

California Work Opportunity Tax Credit

March 12, 2021 6:51 amMarch 12, 2021 7:00 am

On March 10, State Senator Monique Limon (D-Santa Barbara) amended her Senate Bill 553 to create a state work opportunity tax credit (WOTC). The bill would add and repeal Sections 17053.71 and 23672 of the Revenue and Taxation Code. As...

AB 83: License Fee Budget Trailer Bill

March 1, 2021 3:01 pmMarch 4, 2021 11:48 am

On March 1, Assembly Bill 83 was gutted-and-amended as one of the COVID-19 relief measures. As a budget trailer bill, it will take effect immediately once chaptered. The bill is authored by the Assembly Committee on Budget and will amend...

California’s Ballot Initiative Transparency Act

November 7, 2020 7:10 amNovember 9, 2020 11:22 am

In 2014, then Senate President pro Tempore Darrell Steinberg authored SB 1253, which was enacted in late September as Chapter 697. Section 1 of the bill established the act as the “Ballot Initiative Transparency Act.” Section 2 of the bill...

California’s State Budget Reserves Not Enough to Fill Budget Gaps Even in Moderate Downturns

April 20, 2020 11:15 amApril 20, 2020 11:15 am

With California in lockdown since mid-March, most businesses have ground to a halt, which also ground sales tax revenue to a halt. The Public Policy Institute of California just published an article showing that California’s budget reserves aren’t adequate for...