The May Revision proposes to use about $4 billion in new funds generated from an improved revenue outlook to reduce budgetary debt and restore the Proposition 42 transfer to transportation. We believe the administration’s general approach of using the resources for debt reduction and one-time purposes is sensible in light of the state’s structural budget shortfall. We strongly urge the Legislature to aim at ongoing solutions which are of the same magnitude as the administration’s proposal.
The 2016-17 Budget: Initial Comments on the Governor’s May RevisionReport Feb 19, 2016
[PDF] The 2016-17 Budget: The Governor’s Reserve ProposalReport May 15, 2006
Overview of the 2006-07 May Revision