Newest Early Jobs Revision Shows No Net Job Growth During 2023 [EconTax Blog]

Sep 15, 2023 - With the fourth quarter revision, calendar year 2023 saw essentially no net job growth (+9,000 jobs overall). Data since January 2024 has not yet been rebenched. As such, the figure includes the Early Benchmark Revision for these recent months growing  at the same rate as the official CES estimates.    
https://lao.ca.gov/LAOEconTax/article/Detail/783

46 Higher Education Capital Projects Approved for Debt Financing in 2023-24 [EdBudget]

Sep 14, 2023 - Community colleges may issue local revenue bonds or wait for a state financing alternative to be developed next year as part of the 2024-25 budget process. All of the projects listed were shifted from cash to debt financing as part of the 2023-24 budget process, with the exception of the CSU Chico Human Identification Lab and CSU San Bernardino
https://lao.ca.gov/Education/EdBudget/Details/794

Changes in University of California General Fund Spending [EdBudget]

Sep 13, 2023 - The 2023-24 budget plan states intent to provide an additional $3 million ongoing General Fund for this center beginning in 2024-25. h The 2022-23 budget plan provided $2.4 million for this institute.
https://lao.ca.gov/Education/EdBudget/Details/793

Enacted Budget Shifts $3.2 Billion in Higher Education Capital Projects From Cash to Debt Financing [EdBudget]

Sep 13, 2023 - Community college districts may issue local revenue bonds or wait for a state financing alternative to be developed as part of the 2024-25 budget process. Beginning in 2023-24, the state provides ongoing General Fund augmentations to cover estimated debt service costs (that is, it provides the amounts shown in this column). c Under the final budget agreement, UC
https://lao.ca.gov/Education/EdBudget/Details/789

Changes in California State Library General Fund Spending [EdBudget]

Sep 13, 2023 - Specifically, consists of carryover from local library infrastructure grants ($439 million), internet upgrades ($35 million), English as a Second Language Services ($14 million), the TUMO Center for Creative Technologies ($9 million), the California Civil Liberties Public Education Act ($5 million), and outreach grants to ethnic media programs ($4 million). d Represents third year of four-year funding plan initiated as part of the 2021-22 budget agreement.
https://lao.ca.gov/Education/EdBudget/Details/755

New Higher Education Reporting Requirements [EdBudget]

Sep 12, 2023 - Trailer bill language changes the due date for the existing annual report from June 30 to September 30 (beginning in 2024). CalKIDS = California Kids Investment and Development Savings. LEAs = local educational agencies.
https://lao.ca.gov/Education/EdBudget/Details/747

MOU Fiscal Analysis: Bargaining Unit 16 (Physicians)

Sep 7, 2023 - This means that the agreement would be in effect for two fiscal years: 2023-24 and 2024-25. This is consistent with our standing recommendation that the Legislature not approve agreements that are longer than two years in duration.
https://lao.ca.gov/Publications/Report/4801

MOU Fiscal Analysis: Bargaining Unit 7 (Public Safety)

Sep 7, 2023 - The legislative calendar is public and known far in advance. The legislative calendar and deadlines should be built into the administration ’s planning such that the Legislature has sufficient time to consider labor agreements.
https://lao.ca.gov/Publications/Report/4802

Research and development involving certain psychedelic substances (Amendment #1). [Ballot]

Sep 7, 2023 - The share given to the state is to increase by 5  percentage points a year for each of the next four years —reaching 25  percent of royalty revenues by year 20. The remainder of royalty revenues are to continue being available for R &D and the TREAT Institute ’s administrative costs.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-013

MOU Fiscal Analysis: Bargaining Units 1, 3, 4, 11, 14, 15, 17, 20, and 21 (SEIU Local 1000)

Sep 7, 2023 - This means the agreement would be in effect for three fiscal years: 2023-24, 2024-25, and 2025-26. General Salary Increases (GSIs). The agreement would provide three GSIs over the course of the agreement, specified below. 3  Percent July 1, 2023.
https://lao.ca.gov/Publications/Report/4799