Posts Tagged: proposed
News
Legalizing internet poker in California – a fruitless effort that has spanned seven years, a dozen major bills and hundreds of hours of tense talks – was headed for defeat in the Capitol, following opposition from a key Senate committee leader. Casino-owning tribes, card clubs and the horse racing industry were unable to agree on a formula that would allow them to share in the online gaming market, potentially worth hundreds of millions of dollars.
News
Covered California, the first and largest state-sanctioned health insurance exchange created through the Affordable Care Act, is going to start the new fiscal year with less money. A combination of lackluster enrollment and the loss of some federal funds that helped sustain it through its start-up period are partly the reason, said Peter Lee, Covered California’s executive director.
News
For the new plan the state this fiscal year is paying $63.2 million (24.6 percent of pay) for the pensions of 1,407 judges (1,352 active). Judges Retirement System II is 95 percent funded with a debt or “unfunded liability” of $41.2 million.
News
California’s top water official told a key gathering of south state water interests that “hard-earned progress” is being made on the Brown administration’s controversial plan to build twin tunnels through the Sacramento-San Joaquin River Delta. The comments by Mark Cowin, director of the state Department of Water Resources, were aimed in part at dispelling rumors that the project had run aground, perhaps permanently.
News
A critical sticking point in private negotiations over authorizing internet poker in California became public Thursday when a tribal chairman announced his intention to bring in an international online gaming firm as a subcontractor to conduct operations in California – but only if the state approves the new legislation.
Opinion
OPINION: More than 9 million students and teachers have participated in SeaWorld’s formal education programs. SeaWorld scientists have published more than 30 studies specific to killer whales, and the park’s successful care and husbandry of its population of killer whales – supported by a three-year, $70-million investment in their habitat – allows them to manage a healthy population of animals, while keeping young calves with their mothers and respecting the whales’ social structure.
Opinion
The reason, Reed says, is that the Attorney General used the word “eliminate” in describing his proposal to end the vested benefit rights of public employees. “This is the only recourse we have to correct something that is inaccurate and misleading,” said Reed of the Attorney General’s description of his measure. But Reed has a problem: He and his allies used the same word he’s criticizing the Attorney General for using – “eliminate” – when detailing his ballot measure.
News
Most California public pension funds have the power to raise annual employer rates when they need more money. The California State Teachers Retirement System, a century old this year, is an outlier that needs legislation to raise rates. As lawmakers at the Capitol struggled with budget cuts during a deep economic recession, pleas for a CalSTRS rate increase were not acknowledged with a legislative hearing until last year.
News
Preliminary data from the Franchise Tax Board (FTB) indicate that December 2013 personal income tax (PIT) and corporation tax (CT) revenue collections were a combined $1.6 billion (20 percent) above monthly projections included in the state’s 2013-14 budget plan.