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California Tax Board: ACA8 021999

California Tax Board: ACA8 021999

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Published by Taxman

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Published by: Taxman on Jan 22, 2008
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06/14/2009

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Board Position:____ NP____ NARX ____PENDINGDepartment Director Date
Gerald Goldberg 3/25/1999
LSB TEMPLATE (rev. 6-98)
C:\WINDOWS\TEMP\ACA 8 02-19-99BA9F.DOC03/29/99 12:52 PM
____ S ____ NA____ SA _ ___ O____ N ____ OUA
SUMMARYThis measure would amend the California Constitution to provide that the statebudget would be submitted by the Governor biennially for approval by theLegislature. The Governor would submit a budget rebalancing plan in even-numbered years, if necessary, or a report if the Governor determines no budgetadjustments are necessary.This analysis will address this bill only as it impacts the Franchise Tax Board(FTB).EFFECTIVE DATEThis bill would be effective upon the vote of the people of California andspecifies that it applies to fiscal years beginning on or after July 1, 2001.SPECIFIC FINDINGS
State law
provides that the Governor must submit to the Legislature within thefirst ten days of each calendar year a proposed budget for the ensuing fiscalyear, and requires that the Legislature enact a budget bill by June 15
th
of thatyear. Upon the budget bill’s passage, the Governor has until July 1 of that yearto sign the budget bill into law.
This measure
would provide that the Governor within the first ten days of eachodd-numbered calendar year shall submit to the Legislature a budget for the two-year fiscal period commencing on July 1 of that odd-numbered year.Also,
this measure
would provide that the Legislature would pass the budget billby midnight on June 15 of each odd-numbered calendar year.
This measure
would provide that no later than February 1 of each even-numberedcalendar year, the Governor would submit a budget rebalancing plan containingadjustments to expenditures, revenues or other changes necessary to maintain thebalanced budget through the two-year fiscal period.The Governor’s plan would be accompanied by a budgeting rebalancing bill,itemizing the necessary adjustments or changes. This bill would be immediatelyintroduced in each house of the Legislature by the person chairing the budgetcommittee.
Franchise Tax Board
ANALYSIS OF ORIGINAL BILL
Author:
Davis
Analyst:
Roger Lackey
Bill Number:
ACA 8
Related Bills:
ACA 6, AB 590(1999)
Telephone:
845-3627
Introduced Date:
02-19-99
Attorney:
Doug Bramhall
Sponsor:
SUBJECT
:
State Budget/Two-Year Budget

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