The Government Finance Officers Association (GFOA) has provided some clarification with respect to how recent legislative activity affects the Build America Bonds (BABs) program and other tax credit bond programs.
The deliberations over health care overhaul legislation dominated the headlines this past week as Democratic congressional leaders entered what could potentially be the final stages of the historic debate.
The Legislature adjourned the Eighth Extraordinary Session last week. The remaining legislation on the Governor’s desk (AB X8 6 and AB X8 9) contains the transportation tax swap package. The Governor has sent a letter to legislative leaders expressing his plan to veto the measures as the special session expires this evening. Could there be a record-breaking ninth extraordinary session coming our way?
The Controller’s newly released revenue numbers are better than expected, especially sales taxes. But the state remains deep in debt.
Yesterday afternoon, Governor Schwarzenegger vetoed ABX8 2, a measure that contained budget year budget changes that legislative Democrats argued addressed $2.2 billion in budget year savings. Governor Schwarzenegger agreed with legislative Republicans, indicating in his veto message that the bill “does not actually implement spending reductions.” The problem is that the bill outlines reductions to [...]