Bill Creating New Socially Responsible Corporation Passed by the Assembly

California would allow a new type of corporation in which part of its mission is to improve society and the environment under legislation approved May 26 by the state Assembly.

The measure, AB 361 by Assemblyman Jared Huffman, a San Rafael Democrat, creates “benefit corporations,” which would add social responsibility to shareholder interests and fiduciary decision-making.    Read more »

More

Good to Know…

NEWS RELEASE — Insurance Commissioner Jones Urges Californians to Protect Their Vacation Investments with Travel Insurance Tips for Purchasing Travel Insurance

The Memorial Day weekend is the unofficial start of the summer travel season. With that in mind Insurance Commissioner Dave Jones today urged California travelers to make sure they are protected against possible vacation losses.    Read more »

More

Two Initiatives Cleared for Signature Gathering

The following two intiatives have been cleared for signature gathering. The first one, relating to the budget and  fiscal measures, amends the constitution and so requires 807,615 valid signatures. Proponents have until October 21. The second, relating to nuclear energy, is a proposed statutory change and so needs only 504,760 signatures.    Read more »

More

Dude, Like the Bouquet on That Santa Cruz Skunkweed is Totally Piquant

This measure, sponsored by the Regulate Marijuana Like Wine Committee, is awaiting title and summary from the state Attorney General prior to signature-gathering to qualify it for the ballot. Emphasis has been added to Section 1, 4 (B) and (C):

 

The People of the State of California do enact as follows:

The Regulate Marijuana Like Wine Act of 2012

SECTION 1.     Read more »

More

US Supreme Court Calls for Release of 33,500 State Prison Inmates

A sharply divided US Supreme Court has upheld a 2009 order by a special three-judge panel ordering California to significantly reduce its prison overcrowding in order to provide adequate medical care to inmates.

The 5 to 4 ruling, written by Justice Anthony Kennedy, gives the state two years in which to lower the population in its 33 prisons from 143,434 to 109,805 – roughly 33,500 inmates.    Read more »

More

Is This New Law Really Necessary?

A bill moving through the Legislature would make it be a misdemeanor punishable with a $5,000 fine, up to one year in jail or both if an auto repair dealer fails to fully repair or replace a deployed airbag.

It already is a misdemeanor.

Sponsored by the Center for Auto Safety and the Certified Automotive Parts Association, the bill, SB 869, was approved by the 40-member state Senate on a 38 to 1 vote on May 19.    Read more »

More

Higher-than-Expected Local Property Taxes Good for Schools and the State

One bit of economic good news in Gov. Jerry Brown’s revised spending plan released May 16 :

Local property revenues dedicated to public schools are $626 million higher than anticipated.

That has a benefit for the state budget as well.

The more local property taxes there are available for schools, the less the state has to contribute.    Read more »

More

The Secret is Out About California’s New Job Tax Credit

Among Gov. Jerry Brown’s proposals in his revised budget is to modify a $3,000 credit small businesses can take if they hire a new employee.

The Democratic governor says the credit appears to be “substantially underutilized.

Indeed, Brown notes that some of the $400 million earmarked by lawmakers and former Gov.    Read more »

More

Gov. Jerry Brown’s Plan to Take $744 Million Worth of Bricks Out of the “Wall of Debt”

In taking a chip out of what he calls a $35 billion “Wall of Debt,” Gov. Jerry Brown’s revised budget would speed repayment of $744 million raked off of various funds whose cash comes from fees and not general tax revenue.

When he rejected the Schwarzenegger administration’s plan to sell 11 state office buildings, the Democratic governor borrowed $830 million from 48 pots outside the state’s cash-starved general fund.    Read more »

More

Governor’s Revised Budget Increases Spending on Public Schools

Buoyed by $6.6 billion in higher-than-anticipated tax revenue over two years, Gov. Jerry Brown’s revised budget provides public schools with $3 billion more than his January spending plan and eliminates $2.9 billion in taxes he previously wanted to extend.

The Democratic governor’s updated budget is still contingent on a five-year extension of a 1 cent sales tax increase due to expire this year but the $6.6 billion in higher tax collections took some of the sting out of potential cuts.    Read more »

More