Posts Tagged: million

News

Oil severance tax at center stage

Pumpjacks in a Kern County oil field, November 2013. (Photo: Christopher Halloran)

It has been killed repeatedly in the state Legislature or at the ballot box, but the backers of an oil severance tax hope 2014 is the year to get it done, to the tune of $2 billion annually. But history is not on their side. Above: Pumpjacks in Kern County, November 2013. (Photo: Christopher Halloran)

News

Chief justice to Brown: Courts need money

State Supreme Court Tani Cantil-Sakauye says Gov. Brown’s draft budget doesn’t provide sufficient funding for California’s sprawling court system, which has been battered by years of cuts and complaints about its spending. The chief justice on Tuesday unveiled a proposed three-year plan to fund the courts. (Above: State Supreme Court Chief Justice Tani Cantil-Sakauye. (Photo: Samantha Gallegos/Capitol Weekly)

News

Brown: Thumbs down on oil severance tax

Gov. Brown summarily rejected the notion of a per-barrel tax on California oil as it comes from the ground, a move that sharply limits the political options of the tax’s backers who hoped to get a bill through the Legislature to raise perhaps $2 billion annually.

News

CalPERS eyes new rate hike

To cover the cost of retirees living longer, the CalPERS board next month is expected to approve the third rate hike in the last two years, phasing in the increase to soften the blow on state and local governments. The new rate hike would not begin until fiscal 2016-17 to allow employers time to plan after receiving rate projections next year.

News

Tax credit: Lights, camera, action

California’s TV and film tax incentive appears as popular as ever, despite a rash of negative news coverage of an FBI undercover sting of a state senator in which an industry tax break figured as a lure. “The FBI could have picked any topic from any industry to mount a sting,” Assemblymember Raul Bocanegra, D-Los Angeles, said recently at the Hollywood Chamber of Commerce’s 2nd Annual State of the Industry Conference.(Photo: Stan Rudich)

News

John Pérez targets politics, future

CAPITOL WEEKLY INTERVIEW: Assembly Speaker John Pérez would like to stay in the Legislature but he’s got a problem: The law won’t let him. He’s termed out next year under voter-approved term limits and it’s time to move on. Pérez heads into the controller’s race with a $1.5 million campaign war chest. He likely will face fellow Democrat Betty Yee, a former chief deputy in the Finance Department, the office that writes budgets for the governor. Yee currently serves on the state Board of Equalization.

News

Pressures mount on California ports

Giant crane handles a ship's cargo at the Port of Long Beach. (Photo:

From Humboldt Bay in the north to San Diego in the south, California’s 11 ports generate more than $40 billion in annual economic activity. The Ports of Long Beach and Los Angeles provide most of it — together, they represent the nation’s largest cargo container port and the world’s sixth busiest harbor. But new pressures, including a revamped Panama Canal, are clouding California’s picture. (Photo: Port of Long Beach)

News

State’s finances showing strength

In 2013, the Legislature and the Governor agreed to a restrained state budget for 2013–14, and our forecast of state tax revenue collections has increased since last year. Accordingly, we now find that California’s state budget situation is even more promising than we projected one year ago.

News

Tensions over PRA, Brown Act

The question is simple: Should local governments pick up the tab for complying with California’s laws requiring local open meetings and access to public records? But the answer is not so simple. (Photo: Almonroth)

News

New accounting rules swell CalSTRS’ debt

The CalSTRS board was told last week that it’s unclear whether the new liability figure will be reported by the state or spread among school districts, where more than doubling current debt might lower credit ratings and drive up borrowing costs.

Support for Capitol Weekly is Provided by: