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January California Budget Update

Governor Gavin Newsom submitted his 2022-23 State Budget proposal to the Legislature on January 10, 2022 – a $286 billion spending plan that estimates a $45.7 billion surplus, of which $20.6 billion is discretionary, $16.1 billion is mandated by Proposition 98 for K-14 education, and $9 billion is set aside for reserve and supplemental pension payments. The State Appropriations Limit (Gann Limit) is likely to be exceeded in both 2020-21 and 202122 by a total of $2.6 billion, which will require additional funding to be directed to schools and taxpayer rebates. The administration will update the State Appropriations Limit numbers as part of the May Revision.

The January budget update contains a detailed review of the budget proposals for nearly a dozen items that are important to jurisdictions across California.

Read the full January Budget Update here.

July California Budget Update

The Administration and Legislature are nearing final agreement on the Budget Act of 2021. The Legislature sent SB 129 to the governor on June 29 amending the Budget Act of 2021 (AB 128). AB 128 contains the Legislature’s Budget which the governor signed; however, the bulk of the final budget agreement is contained in SB 129. This is the first time in ten years that the actual budget agreement was not signed on or by June 30.

Read the full July Budget Update here.