Budget Bill Passes - June 22, 2012
As you may have heard by now, the Governor and Legislature announced today that they have reached agreement on a final budget. The final deal DOES NOT involve scooping up any RDA pass through dollars as had earlier been proposed by the Legislature. The other change to the CCC budget is that $50M that would have gone toward the buying down of deferrals will instead go toward growth/restoration.
So, if the November ballot initiative is successful, the CCCs will receive $213M broken into 2 parts - $163M in deferral buy down and $50M in growth/restoration. If the ballot fails, that $213M will disappear and there will be an additional $338.6M workload reduction.
It appears the plan is to have the final trailer bills approved on Tuesday afternoon or early evening, and I’ll keep you updated on significant developments, if they arise. I’ll also provide a comprehensive budget summary after the budget is signed into law.