Governor Brown unveiled his May Revision of the 2015-16 State Budget late Thursday morning. The Governor’s May Revision is an attempt to more accurately reflect revenue and expenditure projections following the release of the Governor’s January proposed Budget. Overall, the Governor’s May Revision reflects a $6.7 billion increase in General Fund revenues over the January proposed Budget, primarily stemming from increased income tax receipts from high income filers. Of specific interest to RCRC member counties, the Governor’s May Revision:
- Maintains $644,000 for the State’s Payment in Lieu of Taxes (PILT) program for 2015-16;
- Completes in full the repayment of all pre-2004 Mandate Claims;
- Provides $50 million in Cap-and-Trade monies for CAL FIRE forest health projects;
- Addresses specific and unique property tax situations in a number of RCRC member counties;
- Increases the Greenhouse Gas Reduction Programs by $1.2 billion; and,
- Adds $2.2 billion over the next three years as continued response to the drought.
The Rural Rundown, RCRC’s detailed analysis of the Governor’s 2015-16 May Revision and other Budget Items, can be accessed here.