May 14, 2012 Editor's NoteFor a PDF copy of the newsletter please visit the League's website. For more updates from the League, follow us on Twitter and like us on Facebook.
Governor Issues May Revise, New Deficit Projection of $15.7 BillionRemaining Redevelopment Housing and Other Funds Proposed to DispersedGov. Jerry Brown released his revised FY 2012-13 Budget today (http://www.dof.ca.gov/documents/2012-13_May_Revision.pdf), reflecting an increased deficit of $15.7 billion, up from his January projection of $9.2 billion. The budget shortfall is attributed to overly optimistic revenue forecasts, increased Proposition 98 spending and federal court rulings blocking several budget cuts. Key words: Revenue and Taxation, State Budget, Municipal Finance, Economic Development, Redevelopment, Transportation, Public Safety, Employee Relations
Department of Finance Urges Successor Agencies to Submit ROPS Before May 25As the June 1 deadline looms for the distribution of property tax to fund enforceable obligations, the Department of Finance (DOF) has urged successor agencies to submit or resubmit their Recognized Obligation Payment Schedule (ROPS) as quickly as possible. Key words: Economic Development, Redevelopment, Succesor Agencies, Revenue and Taxation, Municipal Finance, Legal Updates
Bills in Committee: May 14 – 18See which bills the League is tracking in committee this week. Key words: Legislation, Hot Bills |
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