Two-Day Old Budget Already Unraveling, Says GOP Lawmaker’s Press Release

Sacramento – Senator Bill Emmerson, a hemet Republican, revealed June 29  that the state budget signed by Gov. Jerry Brown on June 27  that the governor and legislative Democrats claim will “be balanced on an ongoing basis” is already starting to unravel. 

(The governor’s) Department of Finance notified the Legislature that the budget’s nearly $1 billion reserve will be at least $122 million lower than expected as a result of property tax revenues captured from redevelopment agencies coming in lower than expected.     Read more »

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Status of State Park Closures

Below is a June 20 memo from the Department of Parks and Recreation on the status of the 70 parks that were scheduled for closure on July 1. Since the date of this memo, the department has said 69 of the 70 parks will remain open July 1, the original date of closure for the parks on the list.    Read more »

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End-of-June Tally: Income and Corporate Taxes Roughly $450 Million Higher Than Expected

The state will likely end June with $450 million more in income tax collections than expected, according to the Franchise Tax Board and Employment Development Department.

Corporate taxes, which were running ahead of Brown administration estimates, could end slightly below them after a $103 million surge in refund requests logged on June 26.    Read more »

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Good News, Bad News as June Tax Collections Wind Down

Income tax revenues paid to the Franchise Tax Board are $482 million ahead of budget estimates as of June 27, according to the board’s daily tally sheet.

However a surge in refund requests has lessened the amount corporate taxes for the month were outpacing projections.

With three days left in the month, the board reports receiving nearly $4.2 billion in income tax payments and more than $218 million in refund requests.     Read more »

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Jumping Into the WayBack Machine with Jerry Brown to the Gubernatorial Election of 1978

In remarks at the Stanford Mansion on June 26 supporting The Maddy Institute’s  Bob Beverly Legislative Intern Scholarship Fund, Gov. Jerry Brown allowed that:

“You’re never down as long as another election is coming up.”

He noted that in the 1978 primary he was in a dead heat with Republican Attorney General Evelle Younger.    Read more »

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June Income Tax Receipts Looking Even Better

With five collection days left in the month, June income tax collections reported by the Franchise Tax Board are running more than $350 million over projections through June 25.

The board reports receiving nearly $4.1 billion in income tax payments and nearly $200 million in refund requests. 

Gov. Jerry Brown’s revised budget, unveiled in May, expected $3.75 billion to be collected by the board in June, less $291 million in refunds.     Read more »

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June Income Tax Receipts Still Up

June income tax collections from Franchise Tax Board are running more than $300 million over projections through June 22.

The board reports receiving nearly $4 billion in income tax payments and $187 million in refund requests. 

Gov. Jerry Brown’s revised budget, unveiled in May, expected $3.75 billion to be collected by the board in June, less $291 million in refunds.     Read more »

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June Tax Receipts Still Looking Up

June income tax collections from the Franchise Tax Board are running $200 million over projections through June 21.

The board reports receiving $3.9 billion in income tax payments  and $174 million in refund requests. 

Gov. Jerry Brown’s revised budget, unveiled in May, expected $3.6 billion to be collected by the board  in June, less $291 million in refunds.     Read more »

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Phew!

Governor, Legislative Leaders Agree on Budget Framework

6-21-2012

SACRAMENTO – Governor Edmund G. Brown Jr., Assembly Speaker John A. Pérez and Senate Pro Tem Darrell Steinberg today announced an agreement on actions the Legislature will consider next week to finalize the 2012-2013 state budget. (Senate Republican Leader Bob Huff of Diamond bar and Assembly GOP leader Connie Conway of  Visalia?)    Read more »

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A Tad More Revenue Than Expected In June — So Far Anyway

In a bright bit of budget news, income tax collections for June are running ahead of projections with $3.7 billion in estimated taxes received through June 20, according to the Franchise Tax Board.

Gov. Jerry Brown’s revised budget, unveiled in May, expected $3.6 billion to be collected by the Franchise Tax Board in June.    Read more »

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