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1972 – Over 45 years of service to the commercial industrial retail real estate industry – 2018.

SENATE PASSES 2017-18 STATE BUDGET

June 16, 2017

A state budget that adds money to both social programs and attempts to rein-in the University of California, passed by both houses of the Legislature in time to meet the constitutional deadline of June 15. This plan includes a $183.2 billion package, the largest state budget in history. Assembly Speaker Anthony Rendon (D-Paramount), said the plan “does things for people, not to people, while Senate Republican Leader Patricia Bates (R-Laguna Niguel) criticized the budget as being too large.

At the end of the fiscal year under this plan, the state would end up with 8.5 billion in the voter-approved rainy-day reserve and another $1.4 billion in the state’s regular reserve as well.

The budget will now be sent to Governor Brown’s desk for finalization pending his signature, however, many “trailer bills,” where the money is actually allocated, are still being debated in the Legislature and many big-ticket items, such as “Cap-and-Trade” are still being negotiated. We will keep you posted.

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