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33 Publications Found
May 27, 1994 - This year’s May Revision essentially represents a technical update to the January budget. It does not include any major new proposals. Furthermore, the Administration’s estimates of caseloads and its revenue outlook have changed only slightly since January, so that the May Revision changes are relatively small.
May 1, 1993 - On May 20th, the Administration issued the May Revision of the 1993-94 Governor’s Budget. As originally presented in January, the budget proposal addressed a budget gap that we estimated at $8.6 billion (please see The 1993-94 Budget: Perspectives and Issues, Part I ). Since the introduction of the original budget proposal, this gap has declined slightly. In contrast, the amount of savings that could be achieved from the original budget proposals has decreased by a much larger amount. While the May Revision does propose some additional spending reductions to partially replace these lost savings, the Administration proposes to roll over a deficit of $667 million into 1994-95. A major solution component continues to be a $2.6 billion local property tax shift. We conclude that, as currently structured, this property tax shift proposal is unworkable. It significantly reduces local (especially county) resources without a corresponding change in local responsibilities or a practical way to find replacement revenue in 1993-94.
May 26, 1987 - Statement of the Legislative Analyst's Office to the Assembly Ways and Means Committee.