• Established in 1972 · CBPA has over four decades of service to the commercial industrial retail real estate industry
  • 2014-15 BUDGET SUMMARY

    Posted: January 24, 2014 | Posted by Crystal Whitfield | No Comments

    According to the Governor, “the budget maintains the state’s fiscal stability by strengthening and investing in the state’s Rainy Day Fund and continuing to pay down the “Wall of Debt” – the most immediate liability constraining the ability of the state to emerge from its fiscal troubles.

    “Specifically, the Budget makes a $1.6 billion payment into the state’s Rainy Day Fund – the Budget Stabilization Account – which marks the first deposit since 2007, and also directs $967 million to a Special Fund for Economic Uncertainties. And in lieu of Proposition 58 and ACA 4, the Budget proposes a constitutional amendment to bolster the state’s Rainy Day Fund.

    “The Budget also continues to address the $25 billion Wall of Debt, directing more than $11 billion to pay off past budgetary borrowing. This debt, which totaled $34.7 billion in 2011, will be eliminated entirely by 2017-18 under this Budget.”

    Click here to read the full budget.



    What Do You Think. Please Leave a Comment.


    There are no comments yet, please leave one.