AFTERNOON GOOD AFTERNOON. BOTH.
GOOD AFTERNOON EVERYONE.
BUT THE MEMBERS OF MY COMMITTEE
WHO ARE NOT HERE YET. HOOKED ON
THEM SO.
TODAY WOULD PLEASE REVISE THAT
WE HAVE APPOINTED.
SELLING MEMBER PHILIP TING TO
REPLACE ASSEMBLY MEMBER QUIRK
TIME. FOR THIS HEARING ONLY.
THAT'S ONE FILE ITEM SIX AB
TWENTY FIVE TWENTY NINE HAS BEEN
PULLED BY THE AUTHOR.
AND PROPOSAL AGAIN THANK
COUNTERS FILE ITEM EIGHT AB
TWENTY NINE FIFTY FOUR BONTA.
THAT CONCLUDES OUR ANNOUNCEMENTS
FOR TODAY
WHEN I STARTED SUBCOMMITTEE
WILL START WITH FILE ITEM FIVE
AB TWENTY FIVE OH THREE MEANS.
ASSEMBLY MEMBER IRWIN WOULD YOU
LIKE TO OPEN.
THANK YOU MADAM CHAIR AND
MEMBER.
AB TWENTY FIVE A THREE WOULD
ALLOW THE F. T. VETO
ADMINISTRATIVELY DISSOLVED
DOMESTIC CORPORATIONS AND LLC'S.
THAT HAVE CEASED DOING BUSINESS
FOR AT LEAST FIVE YEARS.
PAID ALL TAXES FILED ALL RETURNS
TO UP TIL THAT DATE THAT THEY
STOPPED DOING BUSINESS CURRENTLY
BE HAVE TO BE LACKS THE
AUTHORITY TO DISSOLVE AN ENTITY
TO STOP THE APPROVAL OF MINIMAL
OR ANNUAL TAX THE TAX STEPS OF
THE ENTITIES.
THAT HAVE CEASED OF BUSINESS
OPERATIONS CONTINUE TO BE ON THE
DEPARTMENT'S ACCOUNTING SYSTEM
FOR UP TO TWENTY YEARS.
AB TWENTY FIVE A THREE WILL
CORRECT THIS IN GRANT OF TV THAT
AUTHORITY TO CLEAN YOUR THESE
ENTITIES FROM THEIR BOOKS.
WE RAN A SIMILAR BILL.
A COUPLE OF YEARS AGO AB FIVE
FIVE SEVEN FOUR NON. AND.
AS OF TODAY TWENTY THOUSAND
NINE HUNDRED AND FIVE NONPROFITS
HAVE BEEN DESIGNED.
AND.
GOOD AFTERNOON MADAM CHAIR AND
MEMBERS TO RESTORE MAY
REPRESENTING THE CALIFORNIA
TAXPAYERS ASSOCIATION. THIS BILL
IS A GOOD COMMON SENSE GOOD
GOVERNMENT FILL IT DOES A COUPLE
THINGS NUMBER ONE IT ALLOWS THE
FRANCHISE TAX BOARD TO MORE
ACCURATELY REFLECT ITS ACCOUNTS
RECEIVABLES. OTHERWISE WITHOUT
THIS BILL UNCOLLECTED BILL TAX
LIABILITIES FROM BUSINESSES THAT
HAVE CEASED DOING BUSINESS AND
NO LONGER EXISTS WOULD BE
REQUIRED TO BE CARRIED ON THE F.
T. V.'S ACCOUNTS RECEIVABLE. FOR
ANOTHER TWENTY YEARS
SECONDLY THIS BILL ALLOWS AFDB
TO REDIRECT ITS RESOURCES BETTER
CURRENTLY DEDICATED TO THIS
PROCESS TO HIGHER PRIORITY
WORKLOADS AND POSSIBLY BRING IN
THE GREATER REVENUE FOR THE
STATE.
THE THIRD REASON IS THAT THE
SPELL MIRRORS SUCCESSFUL
PROGRAMS THAT HAVE BEEN
IMPLEMENTED AND OTHER STATES.
CORRECTLY RESOLVE AND DISSOLVE.
ENTITIES THAT NO LONGER EXISTS
ALLOW THE FTP TO MORE ACCURATELY
REFLECT IN UPDATES ITS BOOKS.
GOOD AFTERNOON CHAIRMAN A
MEMBERS JENNIFER CHANNA HELL
WITH AARON REGION ASSOCIATES ON
BEHALF OF THE CALIFORNIA SOCIETY
OF FOR OF ENROLLED AGENTS AND
AB.
TWENTY FIVE THOUGH THREE
ADDRESSES A LONG STANDING
PROBLEM WHERE AND TAXPAYERS. UP
FORM BUSINESS ENTITIES AND
FAILED TO PROPERLY CLOSE THEM
EITHER BECAUSE THE ENTITY WAS
NEVER LAUNCHED HER BECAUSE THEY
HAVE CLOSE THE ENTITY AND FILED
RETURNS WITH THE FTP BUT FAILED
TO DISSOLVE PROPERLY WITH THE
SECRETARY OF STATE. SO BY
CREATING THIS ADMINISTRATIVE
DISSOLUTION PROCESS OF SIMILAR
TO THE ONE THAT'S ALREADY IN
PLACE FOR NON PROFITS AND IT
GIVES THIS.
WAITED GET THOSE FOLKS OFF THE
BOOKS AND.
AND KINDA STREAMLINED THAT THE
PROCESS IS THAT THE FTP SO CSEA
IS IN FULL SUPPORT WE RECOMMEND
OR REQUEST YOUR AYE VOTE.
THANK YOU.
GOOD AFTERNOON MADAM CHAIR AND
MEMBERS MY NAME IS JANET CARLSON
I'M THE ASSISTANT LEGISLATIVE
DIRECTOR FOR THE FRANCHISE TAX
BOARD WITH ME TODAY IS JUST
KHADIJAH MEN ARE SUBJECT MATTER
EXPERT ON THIS BILL. ON BEHALF
OF THE BILL'S SPONSOR A THREE
MEMBER BOARD WOULD LIKE TO THINK
MEMBER IRWIN AND STAFF FOR
WORKING WITH US TO BRING THIS
IDEA FORWARD. WE'RE AVAILABLE
TODAY TO RESPOND ANY QUESTIONS
AND RESPECTFULLY ASK FOR YOUR
AYE VOTE.
OTHER WITNESSES IN SUPPORT.
WITNESSES IN OPPOSITION.
COMMENTS OR QUESTIONS
FROM THE TWO OF US ON COMMITTEE.
AND.
SEEING NONE DO I CLOSE WELL WHEN
YOU HAVE A QUORUM.
I WOULD RESPECTFULLY ASK FOR
YOUR IPHONE. WE HAVE ACHIEVED DO
PASSED APPROPRIATIONS COMMITTEE
ONCE WE HAVE A QUORUM.
THANK YOU VERY MUCH MADAM CHAIR.
YOU
OKAY FOR THE.
FOR TODAY'S HEARING WILL BE
HAVING THREE WITNESSES PER SIDE
THREE MINUTES PER WITNESS.
BEING SO.
LIVING FILE ITEM NUMBER TWO
STEINORTH AB TWENTY ME. FORTY
TWO.
MISTER STEINORTH WOULD YOU LIKE
TO.
GOOD MORNING MISTER CHAIR AND
MEMBERS.
THANK YOU FOR THE OPPORTUNITY TO
PRESENT ASSEMBLY BILL TWENTY
FORTY TWO WHICH IS THE WINNER OF
MY THERE OUGHT TO BE A LOCK
CONTEST.
I WILL BE ACCEPTING THE
COMMITTEES AMENDMENTS THIS IDEA
COMES FROM THESE TWO YOUNG HIGH
SCHOOL STUDENTS THAT ARE FROM MY
DISTRICT THAT ARE HERE TO
TESTIFY WITH ME TODAY. IN AND
DUNCAN ARE THE BRAINS BEHIND
THIS BILL SO I WILL KEEP MY
REMARKS SHORT GIVE YOU TIME TO
LET THEM DO THEIR PITCH IN AND
PRESENT THEIR INNOVATIVE IDEAS.
IT IS NO SECRET THAT
CALIFORNIA'S DROUGHT PATTERNS
ARE BECOMING MORE AND MORE
COMMON.
WE NEED CREATIVE SOLUTIONS TO
PROMOTE CONSERVATION AND PREPARE
FOR A DRYER FUTURE.
AND I BELIEVE IN IN TOWN CAN
HAVE GREAT GRAY WATER REUSE TAX
CREDIT IDEAS AND THE NECESSARY
SOLUTIONS.
GRAY WATER YOU SYSTEMS HAVE LONG
BEEN A PRACTICAL WAY FOR
CALIFORNIANS TO AVOID WASTING
DRINKING WATER ON LANDSCAPE.
UNFORTUNATELY THE SYSTEMS CAN
ALSO BE TOO EXPENSIVE FOR FAMILY
TO PURCHASE.
AB TWENTY FORTY TWO WOULD OFFER
A TAX CREDIT TO REMOVE THE
FINANCIAL BARRIERS IN ORDER TO
MAKE RAIN WATER SYSTEMS MORE
ACCESSIBLE FOR ORDINARY
CALIFORNIANS.
BY INCENTIVIZING THE PURCHASE OF
GRAY WATER REVIEW SYSTEMS AB
TWENTY FORTY TWO WILL PROMOTE
WATER CONSERVATION WHILE ALSO
REDUCING HOMEOWNERS WATER BILLS.
I'M JOINED BY IAN FINLEY AND
DUNN CAN GLOVER FROM REDLANDS
EAST VALLEY HIGH SCHOOL.
WELCOME IN AND DUNCAN.
I DON'T KNOW WHICH IS WHICH.
I MEAN IT DIANA DUNCAN I DON'T
THINK GOT DUNCAN ARE YOU FIRST I
ACTUALLY ACCIDENT A GREAT IN
TAKE IT. GOOD AFTERNOON MISS
CHAIR AND MEMBERS THANK YOU FOR
THE OPPORTUNITY TO PRESENT THIS
BILL WHICH WOULD INCENTIVIZE THE
USE OF RESIDENTIAL GRAY WATER
REUSE SYSTEMS AND HELP RELIEVE
SOME OF THE COSTS FOR FAMILIES
ALREADY WILLING TO PURCHASE THE
SYSTEMS THE SYSTEMS CAN BE
INSTALLED IN ANY HOUSEHOLD. AND
RECYCLED LIGHTLY USE WATER FROM
SHOWERS IN WASHING MACHINES AND
ALLOW IT TO BE REPURPOSE FOR
OUTDOOR WATERING OF LAWNS AND
LANDSCAPES.
WE BELIEVE IT IS TIME FOR TO USE
ANY NECESSARY RESOURCES TO
CONSERVE WATER ON A LONG TERM
BASIS IN CALIFORNIA. ESPECIALLY
IN A STATE WHOSE DROUGHTS ARE
NOT SIMPLY A ONE TIME PROBLEM
IN FACT AS DESCRIBED IN A STUDY
BY NO A DIFFERENT BOUGHT
STANFORD UNIVERSITY.
CALIFORNIA'S DROUGHT PATTERNS
ARE BECOMING MORE CALM.
MEANING THAT WE HAVE MORE TRACK
CONDITIONS COMING IN THE FUTURE
THAT WE MUST PREPARE FOR.
AB TWENTY FORTY TWO WOULD YOU
SEE SIMPLE BUT PRACTICAL METHOD
TO HELP SAVE SIGNIFICANT
QUANTITIES OF WATER EVERY DAY
WITHOUT RESTRICTING AL GORE
WATERING ACCORDING TO PROFESSOR
J. ARTIST SERGEANT AT UCLA'S
PUBLIC POLICY IN URBAN PLANNING.
TWENTY FIVE PERCENT OF WATER
USED ON A DAILY BASIS COULD
POTENTIALLY BE RECYCLED TO WATER
LAWNS AND LANDSCAPES IN LOS
ANGELES ALONE. ALL DISTRICTS
AROUND CALIFORNIA NEED TO SAVE
WATER IN PRAGMATIC WAYS AND GRAY
WATER CAN BE A HUGE ASSET TO DO
THIS.
AS DESCRIBED BY LARA ALLEN OF
GRAY WATER ACTION
EACH GRAY WATER SYSTEM SAVES AN
ESTIMATED FIFTEEN THOUSAND
GALLONS OF WATER PER YEAR.
WHICH CAN REALLY ADD UP IN THE
STATE WITH SEVEN POINT FIVE SIX
MILLION HOMES IN WHICH IT CAN BE
INSTALLED BECAUSE OF ITS
PRACTICALITY GRAY WATER SYSTEMS
ARE NOTHING NEW TO THE CITIZENS
IN THE STATE OF CALIFORNIA. IN
FACT THE CALIFORNIA STATE
GOVERNMENT HAS RECENTLY HAS
RECENTLY LOOSENED INSTALLATION
REGULATIONS MAKING IT EASIER FOR
GRAY WATER RECYCLING TO BECOME
MORE WIDELY USED HOWEVER. IF WE
WANT TO TRULY IMPORTANT PLOY
THIS UNTAPPED ADVANTAGE WE HAVE
TO ADDRESS THE FINANCIAL ASPECT
PROFESSOR TO SHAZIA OF UCLA AND
OTHER WATER LEADERS DESCRIBED
THAT PAYING FOR TREATMENT CAN.
BE A FINANCIAL HURDLE FOR MOST
HOMEOWNERS
AS BENEFICIAL IS GRAY WATER CAN
BE WE NEED TO MAKE IT MORE
FINANCIALLY ACCESSIBLE FOR
COMMON CALIFORNIAN FAMILIES IN
ORDER TO SEE IT TRANSLATE INTO A
TANGIBLE REALITY.
THIS BILL WOULD TAKE THOSE STEPS
WHICH IS WHY WE RESPECTIVELY ASK
FOR YOUR AYE VOTE THANK YOU.
WITNESSES IN SUPPORT.
WITNESSES IN OPPOSITION.
SEEING NONE QUESTIONS AND
COMMENTS RENT MANY.
MR GRAY.
THANK YOU. MADAM CHAIR THANK
YOU.
MISTER STEINORTH FOR. REAGAN
FOURTH THEY.
.
OUGHT TO BE A LAW BILL.
AND.
AND AND. TAKE YOU TO THE YOUNG
FOLKS HERE WHO OVER WORKED HARD
ON WHAT'S AND AN EXCELLENT IDEA
TO INCENTIVIZE.
WATER SAVINGS ARE CALIFORNIA.
IS THROUGH THIS HISTORIC DROUGHT
BUT WE REMAIN.
DESPERATE FRANKLY FOR WATER
SUPPORTER COMMUNITIES IN THE
GROWTH AND YOU KNOW. IN THE LAST
FOUR DECADES WE'VE GROWN OUR
STATE WATER SUPPLY BY MERE ONE
PERCENT.
IN THE SAME PERIOD OF TIME WITH
ALMOST DOUBLED OUR POPULATION
AND.
TO SIT AROUND SCRATCH OUR HEADS
AND WONDER WHAT THE PROBLEMS
WE'VE GOT TO INCENTIVIZE EVERY
OPPORTUNITY TO SAVE EVERY LAST
DROP AND TO DO IT. THROUGH THE
CARROT APPROACH NOT THE STICK
SHOWS THAT THESE YOUNG PEOPLE
HAVE MORE SENSE THAN THE
CALIFORNIA STATE WATER BOARD.
AND.
I WANT TO SUPPORT THAT AND
APPRECIATE THEM BRINGING.
AND INNOVATIVE IDEA FORWARD AND
HOPEFULLY.
THIS WILL MOVE OUT OF COMMITTEE
TODAY AND I'LL CERTAINLY BE
SUPPORTING IT.
THANK YOU THANK YOU.
A LUCKY HE'S USUALLY NOT THAT
POSITIVE. OKAY.
I WANT ALSO TO THANK YOU BOTH
AND I THINK YOU FOR YOUR
COMMITMENT TO THE ENVIRONMENT
AND ALSO TO THE LEGISLATIVE
PROCESS WITH THAT. BUT NO OTHER
QUESTIONS OR COMMENTS FROM THE
COMMITTEE.
S. ELEANOR ST ARE YOU ARE TAKING
THE AMENDMENTS.
.
SUBSTITUTE TAXPAYER FOR
RESIDENTS LIMIT TO KEY IT.
DELETE REFERENCES TO
DEPRECIATION DELETE THE PET.
DEPENDENT EXCLUSION LANGUAGE
SUBSTITUTE EIGHT CD PER STATE
WATER RESOURCES CONTROL BOARD
CORRECT YES I AM. ALRIGHT I'LL
ONLY HAVE A QUORUM WE WILL TAKE
A VOTE THANK YOU VERY MIGHT KNOW
THE IT'S A TASK AS AMENDED TO
APPROPRIATIONS CORRECT THANK YOU
VERY MUCH THANK YOU SO IDEA
BOTH.
LIVING A FILE ITEM NINE AB
TWENTY NINE TWENTY SEVEN
ASSEMBLY MEMBER GALLAGHER WOULD
YOU LIKE TO OPEN.
I THINK YOU MADAM CHAIR MEMBERS.
I'M PLEASED TO PRESENT AB TWENTY
NINE FIFTY SEVEN A WHICH WOULD
HELP CALIFORNIA MEET ESTABLISH
WATER GOALS AND FUTURE WATER
CHALLENGES BY INCENTIVIZING
WATER TECHNOLOGY.
THE BILL DOES IS THROUGH TWO
DIFFERENT MECHANISMS FIRST.
AB TWENTY NINE FIFTY SEVEN
REQUEST THE ESTABLISHMENT OF A
YOU SEE SATELLITE CAMPUS.
FOCUSED ON WATER TECHNOLOGY
RESEARCH AND DEVELOPING THE NEXT
GENERATION OF WATER
PROFESSIONALS AND TECHNICIANS.
SECOND THE BILL ENCOURAGES WATER
TECHNOLOGY BUSINESSES TO
LOCATING CALIFORNIA BY GIVING A
TAX CREDIT TO BUSINESSES THAT
LOCATE. IN ORVILLE.
AND ORVILLE AREA WHICH WOULD BE
DESIGNATED AS A WATER TECHNOLOGY
INNOVATIONS ON.
AND MANY OF SAID HEY WHY OR BILL
WELL I MEAN THIS IS ACTUALLY
WHERE.
THE WATER IS STORED FOR THE
STATE TWENTY SIX MILLION
CALIFORNIANS GET THEIR WATER.
FROM LAKE OROVILLE AND THAT AND
THE REST OF WAR THERE AND
OBVIOUSLY. AND THE ON THIS IS AN
AREA THAT.
.
YOU KNOW THAT IS HOME TO WATER
BUT ALSO IS HOME TO THE LOT OF
DIFFERENT INNOVATIONS THAT HAVE
COME UP AND SO WE WANT TO TRY
AND CREATE A HARBOR ON THIS
TECHNOLOGY HUB WHERE PEOPLE
WOULD LOOK AT HAVES. HASN'T
BENEFITS AND.
A CALIFORNIA MADE FACES MANY
WATER CHALLENGES IN WE NEED TO
INVEST IN DEVELOPING AND
DEPLOYING EXISTING AND UPCOMING
TECHNOLOGIES THAT WILL HELP US
ADDRESS.
THESE ISSUES THAT AB TWENTY NINE
FIFTY SEVEN ALSO HELP ATTRACT
INNOVATORS TO HELP MEET THE
CHALLENGES IN WATER PLANNING
RECYCLING.
TESTING TREATMENT DISTRIBUTION
AND MORE.
ONCE DIRETTO IS ACTUALLY HAD.
A YOUNG MAN WHO DEVELOPED A NEW
WATER TECHNOLOGY IN TERMS OF
CREATING CLEAN. WATER.
HE ENDED UP TAKING THIS IDEA
AND STARTING UP IN HOUSTON. OF
BECAUSE OF THE TAX BENEFITS THE
COULD GET THERE AND. I RATHER
HIM COME HERE TO CALIFORNIA SO.
I THINK THIS WOULD.
.
YOU KNOW HELP US MOVE IN THAT
DIRECTION I AM TAKING THE
COMMITTEE AMENDMENTS AND THANK
YOU FOR WORKING WITH MY OFFICE
ON ON THIS LEGISLATION AND SO.
WITH THAT I DO HAVE SOME
WITNESSES IMPORTANCE IN SUPPORT
INCLUDING THE MAYOR OF OROVILLE
INTO DAHLE MEYER.
CHRIS TELUS AND.
BALLERINA BORROW.
SO.
THANK YOU THANK YOU FOR HAVING
ME TODAY.
I'M LINDA DAHLE MEYER THE MAYOR
OF THE CITY OF OR THEY'LL. BUY
BEEN THE MAYOR FOR ABOUT EIGHT
YEARS.
AYE CHOOSE TO LIVE IN RURAL
AMERICA AND SOME KIND OF GIVE
YOU A WORD PICTURE OF WHAT IT'S
BEEN LIKE TO SIT ON THE WATER
COMMITTEES.
AND IN MY CITY AS THE MARE I'VE
TAKEN ON MANY OF THE WATER
PROJECTS.
I. WAS DETERMINED TO BE FRIENDS
WITH THE STATE WATER CONTRACTORS
NDW ARE SINCE WE ALL LIVE IN THE
SAME BACKYARD.
BUT WITH THE SPILLWAY INCIDENT
LAST YEAR. IT WAS.
.
EVIDENCE THAT IT WAS A WAKEUP
CALL.
AND I HAD TO DO AN INTERVIEW FEW
WEEKS AGO AND THEY SUPPORT WHAT
IF IT DID HAPPEN AND I. I DID A
WORD PICTURE FOR THE MY CIVIL
THIS IS WHAT IT WOULD LOOK LIKE.
HAD THE SPILLWAY.
COLLAPSED.
MORE THAN TWO HUNDRED THOUSAND
PEOPLE WOULD HAVE JUST BEEN
OBLITERATED.
AND.
LIFE AS WE KNOW IT DOWNSTREAM.
WOULD HAVE BEEN ERASED ALL OF
THE COMMUNITIES WOULD HAVE
DISAPPEARED. BUT EVEN MORE SO.
WHAT WOULD HAVE HAPPENED IS THE
COLLAPSE OF THE WATER DELIVERY
SYSTEM? FOR TWO THIRDS OF THE
STATE OF CALIFORNIA ONE THIRD OF
THE WATER DOES COME FROM THE
COLORADO RIVER. BUT THE STATE
WATER PROJECT WHICH STARTS IN OR
AVAIL I SEE MY WATER COMES FROM
GOD EVERYBODY ELSE'S WATER COMES
FROM US.
WOULD NOT HAPPEN ANYMORE.
IN WITHOUT SAID THE DELIVERY
SYSTEM OF THE WATER. WOULD HAVE
CREATED A HOLE IN THE
AGRICULTURAL COMMUNITY. AND THAT
WHOLE WOULD STILL EXISTS TODAY.
AND MOST PEOPLE DON'T REALIZE
ARE PUT THE NUMBERS TOGETHER.
BUT.
WE SUPPLY EIGHTY PERCENT.
OF THE NATION'S.
FOOD.
FROM CALIFORNIA SO REALLY WOULD
HAVE CREATED.
A UNIQUE SITUATION MANY OF US
THAT LIVE IN THIS REGION WHICH
THE IF IF YOU'VE GONE TO.
IN THIS REGION YOU GOT A SLIGHT
PARK.
ADD IN SIX GRADE YOUR KIDS GO TO
THE SCIENCE CAMPS I KNOW THAT
WE'VE TALKED ABOUT MAKING
OROVILLE PART ABOUT FOR THE SIX
GRADE CENTER. BUT.
THE SAME THING WITH THE SIX
GRADERS WITH UPPER EDUCATION
IT'S WE HAVE ALL THE.
WE HAVE THE WATER WE HAVE THE
GEOLOGY WE HAVE THE FISH MISTER
TELL US WE'LL BE TALKING ABOUT
THAT WE HAVE EVERYTHING THAT
THE.
EVEN GLOBAL HUB COULD USE WHEN
IT COMES TO WHAT WE GONNA DO FOR
THE NEXT GENERATION AND HOW
WATER CAN BE SUSTAINED.
AND I'M IN FAVOR OF THIS AND I
APPRECIATE MY TIME HERE TODAY
THANK YOU.
THANK YOU MAYOR NEXT WITNESS.
A THANK YOU I AM CHRIS TELL US
MY WIFE AND I OWNED A SIXTY
ACRES OF RIVERFRONT PROPERTY AND
ORVILLE. AND ALSO.
HOUSEBOAT MARINA IN SAUSALITO
WHERE I LIVE FOR SIXTY FIVE
YEARS.
SO MY LIFE IS INEXTRICABLY
CONNECTED TO CALIFORNIA WATER
HYDROLOGY AS ARE THE OTHER FORTY
MILLION PEOPLE IN OUR STATE.
THERE'S NO OTHER COMPONENT OF
OUR NATURAL INFRASTRUCTURE THAT
IS SO CRITICAL TO CALIFORNIA. AS
OUR WATER SYSTEM.
AND WITH THE BAY IN DELTA PLAN
THE DEBATE ABOUT THE TUNNELS
CONFLICTING DEMANDS AND WITH
CLIMATE CHANGE THE SITUATION IS
EXTRAORDINARILY FRAUGHT.
THE ONLY WAY TO SORT THIS OUT IS
WITH GOOD DATA. IN RIGHT NOW THE
DATE IS ADEQUATE AND FRAGMENTED.
IT IS CRITICAL THAT THESE
DECISIONS WHICH HAVE HUGE
IMPLICATIONS.
BE INFORMED BY THE BEST
RESEARCH.
CONSOLIDATING THE RESEARCH IN
ONE PLACE IS NOT ONLY ESSENTIAL
FOR CALIFORNIA.
BUT THIS RESEARCH WILL HAVE
GLOBAL IMPACTS.
AS WATER AND WATER QUALITY IS
THE NUMBER ONE CRISIS FACING THE
WORLD.
I NOTED THE ANALYSIS THAT THE
REVENUE LOSSES ESTIMATED OF FIVE
HUNDRED TWENTY MILLION.
OVER SURVIVOR TWENTY THOUSAND
OVER THREE YEARS.
HOWEVER THE POTENTIAL LOSS AND
GAIN OF AND OPTIMIZE WATER
STRATEGY IS IN THE BILLIONS.
IF YOU ATTEMPT TO BALANCE ONE
AGAINST THE OTHER THERE IS NO
DETECTABLE EQUIVALENCY.
THIS IS A VISIONARY PROJECT THAT
WOULD BENEFIT OUR STATE WOULD
BENEFIT EVERYBODY. I URGE YOU TO
SUPPORT THIS LEGISLATION IS NOT
JUST A GOOD DEAL IS IT IS AN
ESSENTIAL DEAL.
MY NAME IS HELEN TOMORROW OF THE
SEA.
WE ARE.
DIVISION. WE'VE BEEN AN ORDEAL
STARTED OUR CAMPING OR WILL IT
DECADE AGO THIS IS OUR TENTH
YEAR.
AND ONE OF THE THINGS WE DO IS
WERE IN THE PRACTICE OF
SUSTAINABLE DESIGN.
AND SPECIFICALLY WORKING IN THE
WATER SPACE WE HAVE BEEN FOR
ABOUT A DECADE NOW.
ONE OF THE INNOVATIONS THAT
WE'VE BEEN WORKING ON WE JUST
HELPED GET LEGISLATION PASSED
ANY OTHER WITNESSES IN SUPPORT.
WHEN IS IS IN OPPOSITION.
COMMENTS AND QUESTIONS FROM THE
COMMITTEE.
ASSEMBLY MEMBER GRAY.
WE PUT THAT PHONE NUMBER IRATE.
THANK YOU MADAM CHAIR AND THAT
THEY CAN DISCOGRAFIA WORD.
AN EXCELLENT IDEA.
I LOVE YOU KNOW FOCUSING ON.
WAYS THAT WE CAN.
INNOVATE AND.
CERTAINLY.
CONSERVE AND MAKE OUR WATER
BEFORE THE PROJECT IN THOSE
AREAS WHERE. A AGRICULTURE AND.
OTHER PIECES OF OUR ECONOMY
HERE.
SO SIGNIFICANT NO NO THAT'S
CERTAINLY TRUE IN YOUR DISTRICT
AND AS YOU KNOW I IT'S REALLY
TRUE IN MY DISTRICT AND SO THE
NEXT QUESTION OUT OF MY MOUTH IS
GOING TO BE.
INNOVATION ZONES IN THE CENTRAL
VALLEY WELL MOST IMPACTED DE YOU
KNOW GROUND WATER BASINS.
IN THE STATE ANY PARTICULAR
REASON THIS ISN'T A PARTNERSHIP
BETWEEN YOU SEE MERCED AND.
.
NO PARTICULAR REASON.
WE HAVE LEFT A CAN OPENER THE
UC SYSTEM BECAUSE I'M NOT SURE
YOU KNOW.
WHAT RESEARCH?
?
UNIVERSITY WOULD MAY WANT TO BE
INVOLVED BUT CERTAINLY WE
WELCOME.
YOU SEE MERCED IF THEY WANTED
TO BE A PARTNER IN THIS.
BUT WE'VE LEFT IT SORT OF
OPENED UP ALL THE UC'S.
TO US YOU HAVEN'T SAID SINGLED
OUT ANY ONE. PARTICULAR CAMPUS
RIGHT NOW THAT CERTAINLY SEEMS
APPROPRIATE.
OTHER ARE NO SIN THE ANALYSIS
HERE THAT. THEY WATER INNOVATION
TECHNOLOGIES ON IS DEFINED AS
THE CITY OF ORVILLE AND AREAS
WITHIN TEN MILES DOWNSTREAM.
CAN WE EXPAND UPON THE.
ZONES THROUGHOUT THE STATE MAYBE
HIT SOME OF THE OTHER IMPACTED.
AREAS WOULD THAT BE APPROPRIATE
THE BILL.
I WOULD I WOULD DEFINITELY BE
OPEN TO THAT I THINK WE'RE AT
THIS POINT WE'RE JUST LOOKING AT
SAY HEY LET'S TRY AND SEE IF
THIS WORKS THE COMMITTEE IS
SAID%
HEY LET'S DO THIS AS A FIVE
YEAR.
YOU KNOW.
PILE AND ASSUME ASSUMING ALSO
OF COURSE CITY YOU SEE COMES
THEN.
AS PART OF A MAJOR PART OF THE
CONDITION THERE.
BUT I THINK IF WE CAN DO THIS
WE CAN PAY REPLICATED ELSEWHERE
I AM AWARE THAT SALINAS
ACTUALLY.
HAS.
YOU KNOW IT'S NOT PARTICULAR
JUST WATER BUT SORT OF THE AG
INNOVATION.
ZONE OTHER HAVE BEEN TALKING TO
ASSEMBLY MEMBER CLUB HERE ABOUT.
SO. ANOTHER SOME DIFFERENT I
WANT TO MAXIMIZE THIS AS MUCH AS
POSSIBLE TO BENEFIT ALL OF
CALIFORNIA YES.
I'LL TAKE THAT AS A YES LITTLE
SUPPORT THE. BILL.
ANY OTHER QUESTIONS OR COMMENTS
FROM THE COMMITTEE.
SEEING NOW WOULD YOU LIKE CLOSE.
AYE DISASTER AYE VOTE THANK YOU
MADAM CHAIR AND JUST TO CONFIRM
YOUR TAKING THE AMENDMENTS THERE
TO PREDICATE THE CREDIT ON THE
CONDITION THAT THE UC REGENTS
CREATE THE INSTITUTE AT THE
SPECIFIC LOCALE. AT A FIVE YEAR
SUNSET THAT STARTS TO RUN WHEN
YOU SEE MAKES THE DECISION TO
CREATE THE INSTITUTE AND
DISALLOWED OF APARTMENTS.
CORRECT CORRECT.
I WITHOUT WILL ONLY HAVE A
QUORUM THE RECOMMENDATIONS DO
PASS AS AMENDED TO
APPROPRIATIONS THANK YOU ALL FOR
COMING.
THANK YOU YOU.
MOVING A FILE ITEM SEVEN AB
TWENTY SEVEN THIRTY ONE ASSEMBLY
MEMBER GIVES AND WHAT YOU LIKE
TO OPEN.
YES.
IN A REMINDER IT IS THREE
WITNESSES THREE MINUTES PER
WITNESS.
GOOD AFTERNOON MADAM CHAIR AND
MEMBERS THANK YOU FOR ALLOWING
ME TO PRESENT ASSEMBLY BILL
TWENTY SEVEN THIRTY ONE. WHICH
SEEKS TO CLOSE THE CARE INTEREST
LOOPHOLE AT THE STATE LEVEL
UNTIL ACTION IS TAKEN BY THE
FEDERAL GOVERNMENT TO CORRECT
THIS LONGSTANDING INJUSTICE.
THIS MEASURE WILL CLOSE THE GAP
BY ADDING AN ADDITIONAL
SEVENTEEN PERCENT SURCHARGE A
SURTAX ON TOP OF THE CURRENT
TAX.
CURED INTERESTS AND WILL USE
THESE FUNDS TO SUPPORT CAREER
TECHNO IT CAREER TECHNICAL
EDUCATION EARLY CHILDHOOD
EDUCATION AND INCREASE STAFF TO
SUPPORT SOCIAL AND EMOTIONAL.
HEALTH PROGRAMS WITHIN THE
FINANCIAL SERVICE INDUSTRY.
GENERAL PARTNERS
AT HEDGE FUND AND PRIVATE EQUITY
FIRMS OPERATE A MINUTE ON
INCENTIVE BASED STRUCTURE THAT
PROVIDES A FINANCIAL REWARD FOR
EXCEEDING EXPECTED FINANCIAL
RETURN.
IF THIS ACTUAL FUND RETURNS
SUCCEED THE EXPECTED FOUND
RETURN THE PARTNERS RECEIVED
ABOUT TWENTY PERCENT OF THE
PROFITS AS A REWARD OF WHICH IS
KNOWN AS THE CARRIED INTEREST.
WHILE INCENTIVE BASED
COMPENSATION IS NOT UNIQUE.
OF THIS DISTINCTION LIES IS HIM
AND HOW CARE INTEREST IS TAX.
FOR MOST WORKING PROFESSIONALS
WHEN WE RECEIVE A BONUS OR
COMMISSION THE INTERESTS OF THE
INCOME IS TAXED AT THEIR
PERSONAL REGULAR INCOME TAX RATE
HOWEVER. IN THE EXAMPLE OF HEDGE
FUNDS CARRIED INTEREST IS NOT
TAX LIKE REGULAR INCOME AT THE
FEDERAL LEVEL. NOT ONLY DOES THE
BILL GIVES US AN OPPORTUNITY TO
CLOSE OF THE TAX
SPIRITING BUT ALSO CREATES A NEW
PATHWAY TO EXPAND INVESTMENT IN
KEY. UP EDUCATIONAL ARM
PRIORITIES AS A TRANCE AS IT
TRANSITION TO THE RESPONSE OR TO
THE BILL.
WE HAVE REPRESENTATIVES OF FOR
THE PATRIOTIC MILLIONAIRES WHO
COULD NOT BE HERE MISTER
CHARLIE.
SIMON A WHO SCHEDULE.
UNFORTUNATELY HE WAS NOT ABLE
TO MAKE IT HERE TODAY BUT I DO
HAVE REPRESENTATIVES FROM UNITED
HE'S LOS ANGELES AND OTHERS WHO
WILL SELF INTRODUCE.
ALRIGHT.
.
HELLO MY NAME'S ALEX COOPER ON
PRESIDENT OF THE UNITED TEACHERS
LOS ANGELES.
.
BEEN A.
A TEACHER FOR TWENTY TWO YEARS
IN THE COMPTON UNIFIED SCHOOL
DISTRICT IN AND.
LA UNIFIED SCHOOL DISTRICT.
IN SOUTH LA.
WE'RE ABOUT WORKING WITH THE
AUTHOR ON THIS BILL BECAUSE.
.
CALIFORNIA HOVERS UP AMONG THE
FORTIES.
AMONG THE FIFTY STATES IN PER
PUPIL FUNDING.
AND THIS IS AN OPPORTUNITY TO
BRING SOMEWHERE BETWEEN SEVEN
HUNDRED MILLION DOLLARS IN A
BILLION DOLLARS. INTO US SCHOOLS
INTO MUCH NEEDED PROGRAMS AS THE
AUTHOR SAID IN CT. OUR EARLY
EDUCATION AND SOCIAL EMOTIONAL.
SUPPORT MENTAL MENTAL HEALTH
SUPPORT. OF THIS IS A NARROW.
TAX THERE'S A NARROW GROUP OF
PEOPLE THAT WOULD BE AFFECTED.
SOMEWHERE IN THE NEIGHBORHOOD
OF FIVE FOREIGN FIFTY TO FIVE
HUNDRED.
HEDGE FUND MANAGE MANAGERS AND
MANAGER GROUPS
SOMEWHERE IN THE NEIGHBORHOOD OF
TWO HUNDRED AND FIFTY. UP
PRIVATE EQUITY GROUPS OUR
MANAGERS.
THEY OVERSEE FIVE HUNDRED SIXTY
FOUR BILLION AND THREE HUNDRED
THIRTY TWO BILLION.
IN ASSETS RESPECTIVELY AND.
OUR CALCULATION IS THAT ABOUT
NINE BILLION DOLLARS IN CARRIED
INTEREST IS UNDER TAXED
CURRENTLY.
SO THAT'S WHERE THE SEVEN
HUNDRED MILLION TO A BILLION
DOLLARS WOULD COME FROM.
THIS IS SEEN NOT BROAD SUPPORT
AT THE FEDERAL LEVEL ALTHOUGH.
THE FEDERAL GOVERNMENT IS NOT
ACTED ALL OF THE PRESIDENTIAL
CANDIDATES ALL OF THE MAJOR
PRESIDENTIAL CANDIDATES. IN BOTH
REPUBLICAN AND DEMOCRATIC
PARTIES IN TWENTY SIXTEEN OF
SUPPORTED CLOSING THE CARRIED
INTEREST LOOPHOLE.
OTHER STATES ARE TAKING
LEGISLATION ON THAT ARE ALSO
CENTERS OF THIS INDUSTRY. UP HER
TO CORRECT THIS SIDE THIS
INEQUITY WITHIN THE TAX CODE.
AND THE FRANCHISE TAX BOARD IS
THE AUTHOR SAID ABOUT WOULD
ALERT THE LEGISLATURE AS SOON AS
THE FEDERAL GOVERNMENT DID TAKE
ACTION. SO THE LEGISLATURE COULD
TAKE CORRESPONDING ACTION.
THE IDEA WOULD BE THAT.
THESE
THE CENTERS OF THIS INDUSTRY IN
CALIFORNIA ARE LOS ANGELES AND
THE SAN FRANCISCO AREA. AND THE
IDEA WOULD BE TO.
REDISTRIBUTE MONEY THAT'S CAME
TO THEIR TO THE ENTIRE STATE.
TO EVERY DISTRICT IN THE STATE
AND SO THAT EVERY SCHOOL IN THE
STATE COULD BE AFFECTED.
WE.
WE BELIEVE THAT THERE IS.
BROAD.
BRIDGING ACROSS US SUPPORT FOR
EARLY EDUCATION.
WE ALL KNOW THE NEEDS OF
PARTICULARLY IN LIGHT OF THE
LAST COUPLE OF MONTHS OF SOCIAL
EMOTIONAL MENTAL SUPPORTS AND
SCHOOLS.
AND THE AND THE.
CAREER TECHNICAL EDUCATION
OFFERS LOTS OF OPPORTUNITY FOR
BRIDGE BUILDING AS WELL.
OTHERS A BROAD COALITION BEHIND
THIS INCLUDING COMMUNITY AND
CIVIL RIGHTS LABOR BUT ALSO
REACHING INTO THE RELIGIOUS
COMMUNITY.
ORGANIZATIONS FOR RESPONSIBLE
DEVELOPMENT AND THE PATRIOTIC
MILLIONAIRES WHICH IS A GROUP OF
HIGH INCOME INDIVIDUALS OTHER
TOGETHER IS THAT AS AN
ORGANIZATION.
WORKING TO ACTUALLY TAX
THEMSELVES.
TO WRITE.
.
REVENUE ISSUES THAT THE STATE
HAS.
AS THE AUTHOR HAS SAID WERE
WERE OPEN TO DISCUSSION AND AND
HAVE HAVE ALREADY TAKEN SOME.
AMENDMENTS ON THIS I WOULD LIKE
TO BE ABLE TO HAVE IT GET OUT OF
THIS COMMITTEE AND SO THAT WE
CAN GO BACK AND TELL OUR MEMBERS
THAT.
WE'RE ACTUALLY GONNA BE
STANDING UP FOR FOR SCHOOLS TO
HAVE THESE KIND OF RESOURCES
THAT ARE. SITTING THERE.
ABLE TO BE.
TAKEN IN THE SCHOOL SYSTEM.
GOOD AFTERNOON MY NAME IS MIKE
DISENTIS I'M A PARENT MEMBER OF
THE COALITION RECLAIM OUR
SCHOOLS LOS ANGELES AND ALSO
MEMBER OF. EIGHTIES EXISTE Y.
ORGANIZACIONES WITH MEMBERS AND
CHIU LEVEES THAT OR PLAN FRESNO
AND MANY OTHER CITIES IN
CALIFORNIA.
I'M FROM LOS ANGELES AND I'VE
BEEN ORGANIZING PARENTS IN
SCHOOLS.
FOR THE LAST FIFTEEN YEARS TO
IMPROVE PUBLIC SCHOOLS
ADDRESSING ENVIRONMENTAL
CONCERNS BRINGING MORE SCHOOL
SUPPLIES TEXTBOOKS PROGRAMS FOR
ENGLISH LEARNERS AND THE SPECIAL
LOCATION STUDENTS. JUST TO NAME
SOME.
WHERE HE'D TODAY TO SUPPORT AB
TWENTY SEVEN THIRTY ONE?
?
CAN YOU IMAGINE.
WHILE REGULAR PEOPLE LIKE US
RIGHT HERE IN THE AUDIENCE.
I HAD PAYING TAXES DILIGENTLY
EVERY YEAR FEEL MILES AWAY FROM
OUR HOMES THERE ARE A GROUP OF
PEOPLE LIKE THE H..
FONG MILLINERS THAT TAKING
ADVANTAGE OF THE LOOPHOLES. AND
WE ARE HERE JUST TO PASS FOR
THEM TO PAY THEIR FAIR CHAIR.
WE WANT THEM TO BE FAIR LIKE
LOS
TO DO THE RIGHT THING SO.
PLEASE DON'T MAKE US GO BACK
HOME TO TELL THE REGULAR PEOPLE
THE TAXPAYERS. THAT YOU ARE NOT
GOING TO SUPPORT US AND YOU ARE
GOING TO CONTINUE SUPPORTING
THAT THE FAVORING THE MADE THE
MILLION ARE STILL THANK YOU SO
MUCH FOR DETACHMENT I HOPE. TO
GET OUT GUESTS IN THIS BILL
THINGS.
GOOD AFTERNOON JENNIFER BAKER
WITH THE CALIFORNIA TEACHERS
ASSOCIATION.
IT'S OUR PLEASURE TO STRONGLY
SUPPORT THIS MEASURE I'M EVEN
WITH THE FULL FUNDING OF LCF AT
THAT HAS BEEN PROPOSED IN THE
JANUARY'S BUDGET WE WOULD ONLY
MOVE FROM FORTY SIX TO FORTY
THIRD IN THE NATION WHEN IT
COMES DEFINING OUR KIDS. SO WHAT
WE DO KNOW IS THAT FULLY FUNDING
THE LC FF DOES NOT PROVIDE US
ADEQUATE FUNDING AB TWENTY SEVEN
THIRTY ONE IS AN ADDITIONAL TOOL
IN THE TOOLBOX THAT WE CAN
UTILIZE TO FOCUS IN ON SOME KEY.
HIGHLY NEEDED AREAS TO MAKE SURE
THAT OUR STUDENTS HAVE THE
NECESSARY SUPPORT AND STRUCTURES
POR ECT FOR CT AS WELL AS
MAKING SURE THAT THEY HAVE THE
SOCIAL EMOTIONAL SUPPORT TOOLS
THAT THEY NEED. WE CERTAINLY
ENCOURAGE YOU TO IT AND SUPPORT
THE CLOSING OF THIS LOOPHOLE SO
THAT.
THOSE THAT HAVE A LOT OF OTHER
ECONOMIC OPPORTUNITIES CAN MAKE
SURE THAT THOSE RESOURCES
TRICKLE DOWN AND SUPPORT THE
REST OF OUR OUR OUR PEOPLE IN
CALIFORNIA.
OTHER WITNESSES IN SUPPORT.
THANK YOU MADAM SHARED MEMBERS
TRISTEN BROWN OF THE CALIFORNIA
FEDERATION OF TEACHERS IN STRONG
SUPPORT URGENT AYE VOTE THANK
YOU.
I'M CHAIR MEMBERS MICHAEL YOUNG
WITH CALIFORNIA LABOR FEDERATION
ALSO HERE STRONG SUPPORT.
HELLO MY NAME IS JEWELERS TAURUS
FROM THE CENTRAL VALLEY
EMPOWERMENT ALLIANCE AND THE
LACK IN SUPPORT.
CHER DELUDE EACH AMERICAN
FEDERATION OF TEACHERS IN
SUPPORT.
WITNESSES IN OPPOSITION.
COULD ONE OF YOU CLEAR CHIU.
GOOD AFTERNOON.
GOOD AFTER.
JOANNE BETTENCOURT.
REPRESENTING THE SECURITIES
INDUSTRY. AND FINANCIAL MARKETS
ASSOCIATION.
WE HAVEN'T OPPOSE UNLESS AMENDED
POSITION ON THE BILL.
.
THE BILL AS CURRENTLY DRAFTED IS
NOT NARROW.
IS VERY BROAD.
WE THINK IT'S PRIOR THE
NECESSARY TO ACHIEVE THE
INTENDED PURPOSE.
THE BILL.
AND IT WOULD HARM A BROAD CLASS
OF EMPLOYEES A FINANCIAL
SERVICES FIRMS EMPLOYEES.
FOR EXAMPLE. A WHAT HARM THE
EMPLOYEES THAT DON'T RECEIVE.
CARRIED INTEREST OR BENEFIT FROM
PER PER A PREFERENTIAL RATES.
THE SEVENTEEN PERCENT TAX APPEAR
SUPPLY TO.
ANY EMPLOYEE WHO HAS ANY EQUITY.
INTERESTED A BIT IT IS A
BUSINESS INCLUDING A
CORPORATION.
WHO PLAYS A ROLE IN PROVIDING
THE BUSINESS WITH INVESTMENT?
ACQUISITION OR FINANCIAL ADVICE.
THIS DEFINITION APPEARS TO FOR
EXAMPLE FIT.
BROKER DEALERS AND INVESTMENT
ADVISORS EMPLOYEES.
IT WOULD APPLY TO THOSE
EMPLOYEES WHO RECEIVE COMPANY
STOCK AS PART OF THE EMPLOYMENT
COMPENSATION PLAN.
THE BILL I ALSO AFFECTS
EMPLOYEES WHO PROVIDE INTERNET
SERVICES INDIRECTLY.
A REFORM ACTIVITIES IN SUPPORT
OF.
INVESTMENT MANAGEMENT FUNCTION.
THIS IMPACTS A BROAD CLASS OF
EMPLOYEES AS WELL FOR EXAMPLES
ASSISTANCE.
THOSE THAT OWN A SMALL STAKE A
FINANCIAL SERVICES COMPANY. AS A
PART OF THEIR RETIREMENT.
COULD NOT ENJOY THE BENEFIT THAT
OTHER RETIREMENT AND INCENTIVES
THE OTHER EMPLOYEES. AND OTHER
INDUSTRIES ENJOY.
WE URGE YOU TO CONSIDER AND
MINIMUS THRESHOLD OF OWNERSHIP.
THERE SHOULD ALSO BE AN EXEMPT
AN EXEMPTION FOR INTEREST IN
HELD A PUBLIC COMPANY.
AND FOR EMPLOYEES OF A PUBLICLY
TRADED COMPANY.
THE BEEN BILL SHOULDN'T APPLY TO
PROPRIETARY TREATED FIRMS.
FAMILY OFFICES OR BUSINESSES
THAT ARE INVESTING.
AND MANAGING ASSETS USING THEIR
OWN MONEY.
EMPLOYEES OF THESE VISIT
BUSINESSES SHOULD ALSO BE EXEMPT
AS WELL.
SEVENTEEN PERCENT TAX SURCHARGE
DISCOURAGES INVESTMENT
MANAGEMENT FIRMS.
LOCATED IN CALIFORNIA.
ATTRACTING AND RETAINING
EMPLOYEES.
I WOULD ALSO MAKE IT HARDER FOR
CALIFORNIA RESIDENTS
INSTITUTIONAL ADVISORS AND
PENSION FUNDS TO INVEST.
WE RESPECTFULLY.
S. FAITHFULLY URGING NOVO THANK
YOU.
THANK YOU OTHER WITNESSES IN
OPPOSITION.
SEEING NONE COMMENTS AND
QUESTIONS FROM THE COMMITTEE.
SO IMPROPER.
THANK YOU MADAM CHAIR PUBLISHING
GIPSON THANKS FOR BRINGING THIS
BILL FORWARD OF CERTAINLY A LOT
OF.
.
BOB DEBATE ABOUT THIS LOOPHOLE
ON THE ON THE PRESIDENTIAL
CAMPAIGN. AND.
HERE EVEN THE PRESIDENT WAS
TRYING TO GET IT INTO HIS TAX
BILL.
BUT THEY DIDN'T GET IT DONE HE
WAS YOU KNOW LOOKING TO GET RID
OF A LOT OF THESE EXEMPTIONS
EXCEPT FOR THE.
YEAH THE MORTGAGE INTEREST IN
THE CHARITABLE ONES BUT.
YOU ALLOW SOFT IN GETTING COULD.
AND PAPRIKA SHE REACHED OUT TO
ME YOU KNOW A LONG TIME AGO TO
START THE CONVERSATION ABOUT
THIS.
I DO HAVE A FEW CONCERNS HOW
ABOUT CURRENT BILL.
IT LOOKS LIKE THEY WERE TRYING
TO INVOLVE OURSELVES IN FEDERAL
TAX LAW YOU KNOW WHETHER YOU
LIKE IT OR NOT THIS IS.
THE TAX CODE.
AND SO THESE FOLKS ARE TAKEN
ADVANTAGE OF THE LAWS AS IT'S
WRITTEN RIGHT NOW.
AND IN CALIFORNIA.
WE TAX THIS INCOME WE GET WE
TAXIS CAPITAL GAINS AS INCOME SO
WE DON'T HAVE A LOOPHOLE IN
CALIFORNIA SO IT SEEMS LIKE
WERE.
EIGHT YOU KNOW INSERTED HERSELF
INTO FEDERAL TAX LAW. AND IT
WILL RESULT IN A SEVENTEEN
PERCENT.
TAX INCREASE ON THE FOLKS IN
THIS INDUSTRY.
.
AND IT'S IT IT SEEMS TO ME AS
BEING KIND OF PUNITIVE AND
PENALIZES THIS INDUSTRY.
UNTIL THE FEDERAL GOVERNMENT
ADDRESSES IT.
AND THEN YOU HAVE A SUNSET IN
YOUR BILL.
AND THE OTHER AND THE OTHER
THING IS HAS NEW TAXES AND
REGULATIONS COME IN. YOU KNOW
FOLKS THAT MANAGE THESE THESE
FUNDS MAY CONSIDER YOU KNOW.
DOMICILE ING IN ANOTHER.
FRIENDLIER TAXED STATES SO.
I JUST GOT SOME CONCERNS ABOUT
THE WAY IT'S WRITTEN NOW.
AND UP. HERE I'M NOT GONNA BUILD
UP TO SUPPORT ITS ERA.
SURE THANK YOU VERY MUCH MANAGER
MANAGER ACTION ON CERTAIN WHO IT
IS OUR INTENT TO BE VERY VERY
SPECIFIC AS WASTED AS BILL. OF
THOSE INDIVIDUALS WHO ARE HEDGE
FUND PARTNERS. ARE EQUITY FIRM
PARTNERS ABA CERTAINLY NOT OUR
INTENT TO.
TO HURT ANY EMPLOYEE AS IT
RELATES TO THERE'S AND ALSO TO.
MISTER BROS I'M CONCERNED.
THEY'RE NOT PAYING FEDERAL
TAXES RIGHT NOW BECAUSE A
LOOPHOLE RIGHT NOW THOMAS AND
WHICH SEVENTY PERCENT THEY'RE
NOT PAYING IT AT THE TAX.
AT THE FEDERAL LEVEL I'M
PRESENTLY AND SO THIS WILL IN
FACT ONE PUT IS ALIGNED WITH
OTHER STATES THAT ARE MOVING IN
THIS PARTICULAR DIRECTION AND
ALSO QUITE FRANKLY WITH
CALIFORNIA BEING AS PROGRESSIVE
AS IT HAS IN OTHER STATES WHO
HAVE. OF JUMPED ON BOARD.
SUCH AS NEW YORK NEW JERSEY
CONNECTICUT RHODE ISLAND.
MASSACHUSETTS MARYLAND VIRGINIA
ILLINOIS.
AND ALSO A MINNESOTA.
THIS WILL FORCE THE FEDERAL
GOVERNMENT WANTS TO ONE BRING
THIS BEFORE THE HOUSE AND ALSO
CLOSE THE INTEREST LUPO AS YOU
SAID THE PRESIDENT HAS. TALKED
ABOUT IT IS BEEN A PRESIDENTIAL
DEBATE.
THIS BILL GOES AWAY ONCE THE
FEDERAL GOVERNMENT TAKES ACTION
AND SO THERE'S AS WELL AS OTHER
STATES THAT ARE ALSO TALKING
ABOUT THERE'S AND BILLS MOVING
SIMILARLY THROUGH THE
LEGISLATIVE PROCESS WILL FORCE
THE FEDERAL GOVERNMENT TO CHEN
DISS AND ACTUALLY TAKE ACTION
AGAIN. THIS BILL IS IS NARROWED
TO THE POINT WHERE.
THE FEDERAL GOVERNMENT TAKES
ACTION THIS BILLS GOES AWAY
UNTIL THEN WE WANT TO MAKE SURE
THAT JUSTICE ARE FOR THOSE
INDIVIDUALS WHO ARE PAYING THEIR
FAIR SHARE AND THOSE WHO ARE NOT
PAYING THEIR FAIR SHARE. ON GET
ALONG WITH THE REST OF
CALIFORNIA'S AND ALSO I WANNA
MAKE MENTION THIS IS FOR
CALIFORNIA STUDENTS AT WAS
ALREADY ARTICULATED WHERE FORTY
SIX IN THE NATION. THIS WILL
MOVE IT TO US TO IN A MOVE THE
NEEDLE TO RESPECTFUL NUMBER
MOVES OUT OF THE FORTY SIX
POSITION.
WE'RE PAYING AND GIVING ELEVEN
THOUSAND FIVE HUNDRED PER PUPIL
SPENDING IN CALIFORNIA THAT'S A
DISGRACE WE TALK ABOUT BEING THE
SIX OF THE FIFTH WORLD ECONOMY
OF THE WORLD AND WE CAN'T AFFORD
TO TAKE CARE OF ALL CHILDREN.
AND KIDS ARE POLITICS CRACKS AND
THAT'S WHY THIS BILL IS NARROWLY
ON FOCUS ON CAREER TECHNICAL
EDUCATION EXPRESSLY FOR.
AREAS IN NORTHERN CALIFORNIA
WOULD HAVE AGRICULTURE.
MISTER GRAY AND OTHER AREAS TO
HELP FOCUS OF ATTENTION OR
RESOURCES TO CALIFORNIA'S ON
CHILDREN AND SO.
I'M HERE TO STAND RATES
ANSWERING ADDITIONAL QUESTIONS
BUT I ALSO WANT TO SAY THAT WE
ARE WILLING TO WORK WITH
OPPOSITION.
HOPE ACT WITH THE
THIS IS ME AND OPPOSITION TO
WILL HAVE COME TO MY OFFICE.
EMILIE AFTERWARDS WE CAN LOOK
AND SEE HOW WE CAN WORK TOGETHER
AND.
MOVE THIS BILL FOR AN AMENDED
UNNECESSARY AMOUNTS TO THE NEXT
LEVEL.
SO YOU HAVE MY COMMITMENT.
WELL I APPRECIATE THAT AND.
.
I ALSO APPRECIATE I I KNOW WHAT
YOU'RE TRYING TO DO HERE AND I
SUPPORT WHICH I DO I THINK OF
THE SCHOOLS A.
AND I SUPPORT CAREER TECHNICAL
EDUCATION AND. PROGRAMS AND ALL
THAT STUFF AND I KNOW TRYING TO
DO HERE I JUST YOU KNOW LIKE I
SAID EARLIER DISCUSSING CONCERNS
ABOUT. OF THIS BILL IN
PARTICULAR BUT HOPEFULLY.
YOU CAN WORK WITH THE
OPPOSITION ABSOLUTELY FINE FUND
THANK YOU THANK YOU.
YOU HAVE MY WORD ON THAT.
ASSEMBLY MEMBER GRAY.
THANK YOU.
MADAM CHAIRMAN SKIPS AND THE.
.
ALL START BY EQUITY RISK GROWS
COME TRY TO HAVE SOME.
SOME RESERVATIONS ABOUT THE BILL
BEFORE US COM.
NOT THE LEAST OF WHICH IS I
THINK ABSENT SOME BROADER TAX
REFORM DISCUSSION WE'VE HAD
THESE.
WE'VE HAD THIS DIALOGUE WITH TO
CHAIR THE COMMITTEE ABOUT HOW DO
WE ENGAGE IN A MUCH BIGGER.
PICTURE TAX FROM IF WE'RE GOING
TO SUPPORT EFFORTS LIKE THIS IS
PART OF THAT.
.
ALSO CONCERNS ME BECAUSE.
THAT WE'RE NOT.
BOUNCING AROUND AS WE TRIED TO
ALTER OUR STATE TAX CODE TO.
.
DEAL WITH IT FEDERAL LEVEL WHEN
IN FACT WE PROBABLY NEED SOME.
SOME SIGNIFICANT.
TAX REFORM AT THE FEDERAL LEVEL.
TO COMPLEMENT ON OR FRANKLY IN
OR IN PLACE OF A STATE BY STATE
APPROACH.
I HAVING SAID THAT. ALSO.
CONSISTS OF MISTRUST COMMENTS I
I AM VERY SUPPORTIVE OF.
WHATEVER WE CAN DO TO GET OUR
PURPOSE OUR PER PUPIL SPENDING.
A UP TO RESPECTABLE LEVEL
FRANKLY I'M NOT SURE I THINK
FORTY THIRD RESPECTABLE BUT.
.
AND FRANKLY IT'S A CALIFORNIA A
LEAD THE NATION.
IN THIS EFFORT AND WE NEED TO
HAVE A DIALOGUE ABOUT HOW WE
ACCOMPLISH THAT PARTICULARLY AS
WE SIT.
DIFFICULT THE PEAK BUT AMIDST A.
STRONG NATIONAL AND STATE
ECONOMY. A. WE HAVE RECOVERED
FULLY A CALIFORNIA FROM THE
RECESSION NOT EVERY PART OF
CALIFORNIAN IS YOU KNOW WHICH
GIPSON I LIVE IN. A PART OF
CALIFORNIA THAT STILL.
SUFFERS FROM HIGH UNEMPLOYMENT
HOW RICH POVERTY.
AND THAT LEADS ME UP TO THE NEXT
QUESTION WHICH IS YOU KNOW ONE
OF THE.
TREMENDOUS. ASSETS OF OUR REGION
IS IS AGRICULTURE.
CALIFORNIA'S TOO OFTEN KNOWN FOR
ITS BEACHES THAT'S HOLLYWOOD
STARS ARE NOT OFTEN ENOUGH FOR
THE TREMENDOUS AGRICULTURE
ECONOMY THAT WE HAVE HERE. AND
PART OF CAREER TECH EDUCATION IS
PROPERLY FUND THEIR FFA PROGRAMS
AND OTHER.
PROGRAMS THAT BENEFIT RURAL
COMMUNITIES AND THAT CELEBRATE
AND PREPARE THAT NEXT GENERATION
OF FARMERS AND.
THE AG INCENTIVE GRANT PROGRAM
WHICH IS.
NOT ALWAYS BEEN SUPPORTED BY
THIS INSTITUTION A AT THE LEVELS
THAT I THINK THOSE OF US IN
RURAL CALIFORNIA AND FORMER HE'S
LIKE TO SEE IT SUPPORT IT. AND I
THINK THIS IS AN OPPORTUNITY AND
IF. IF YOU WOULD AGREE.
TO TAKE FIVE PERCENT OF THIS.
PROPOSED REVENUE AND
SPECIFICALLY DEDICATED TO THE AG
INCENTIVE
OF FROM PROGRAM AND GET
THE COMMITTEE STAFF TO WORK OUT
THOSE AMENDMENTS I FEEL LIKE
THAT WOULD ON.
GIVE RURAL CALIFORNIA SOME
CONFIDENCE THAT SOME OF THIS
FUNDING.
WOULD BE PUT TO PLACE THAT WILL
BENEFIT ALL OF OUR SCHOOLS YOU
KNOW TOO OFTEN BECAUSE OF OUR
HEAVY RELIANCE ON POPULATION
BASED FORMULAS ARE THE THINGS.
A SOUTHERN CALIFORNIA THE BAY
AREA TAKE A WHY AND SHARE OF ALL
THE MONEY.
.
AND WOULD LIKE TO SEE THAT THOSE
PROGRAMS THAT ARE CERTAINLY FRED
YOU KNOW EACH AND EVERY SECTOR
OF OUR ECONOMY IN EACH AND EVERY
AYE REGION OF OUR STATE. SO IF
YOU'D BE AMENABLE TO THAT I
THINK I COULD SEE PASSED RIGHT
RESERVATIONS A. SUPPORT THIS
BILL TODAY.
HELP MISTER BREAUX GET A CHANCE
A SECOND CHANCE TO VOTE FOR IT
ON THE FLOOR.
CERTAINLY APPRECIATED OF MIST
MEMBER GRAY.
CERTAINLY AS I TALK ABOUT
CAREER TECHNICAL EDUCATION.
IT IS SOMETHING.
OF THAT I AM ONES PERCENT I
QUICKLY SUPPORTIVE OF.
.
FATHER BOYLE SAID THIS GIVE A
MAN A WOMAN A JOB YOU STOP A
BULLET.
I'M A FIRM BELIEVER OF THAT.
AND WE HAVE TO BECAUSE OF THE
MERGING TECHNOLOGY WE DON'T WANT
TO BRING PEOPLE FROM OUTSIDE OF
CALIFORNIA UNITED STATES TO DO
THESE JOBS WE MUST TRAIN THIS
NEXT GENERATION. IN ORDER TO
COMPETE WITH THE GLOBAL MARKET
AND SO YOU HAVE MY COMMITMENT IN
TERMS DOING THAT BECAUSE
AGRICULTURAL SPACE IS SOMETHING
THAT WE NEED TO MAKE SURE.
CONTINUE THOUGH.
GROW AND THRIVE HERE IN
CALIFORNIA BECAUSE IT'S
IMPORTANT WHEN YOU LOOK AT.
OTHER.
PARTICULAR STATES A LOT OF
POWER FRUITS AND VEGETABLES ARE
GROWN AND SHIPPED ALL OVER THE
WORLD AND SO WE NEED TO MAKE
SURE THAT PARTICULAR INDUSTRY IS
VIBRANT AND CONTINUE TO GROW AND
SO YOU HAVE MY COMMITMENT. TO
WORK TOWARDS THAT IN.
MADAM CHAIR* FOLLOW UP.
FOR THE RECORD SPECIFICALLY A
FIVE PERCENT YOU KNOW TO THE
AGRICULTURE CAREER TECHNICAL
EDUCATION PROGRAM AS LISTED AND.
EDUCATION CODE ARTICLE SEVEN
POINT FIVE SECTION FIVE TWO FOUR
SIX ZERO FOUR THE COMMITTEE
CONSULTANT.
I MEAN JUST IN GENERAL.
WE WILL GO THROUGH THE
AMENDMENTS BEFORE BEFORE WE.
IF WE HAVE A QUORUM BEFORE WE.
ANY OTHER COMMENTS OR QUESTIONS
FROM THE COMMITTEE.
SEEING NONE WOULD YOU LIKE TO
CLOSE MOST COPS.
THE ONLY AUGUST SAYS FIRST OF
ALL THANK YOU VERY MUCH MADAM
CHAIR TO YOU AND YOURS YOUR TEAM
FOR WORKING WITH US.
AND IN THIS FASHION TO HELP
STRENGTHEN THIS BILL AND
CERTAINLY APPRECIATE ALL THE
COMMENTS.
THAT HAVE BEEN ARTICULATED HERE
TODAY.
AND OF MY COMMITMENT IS TO WORK
AGAIN WITH THE OPPOSING SIDE AND
AGAIN HOPELESSLY LOOKS ACCEPT MY
INVITATION TO MEET AFTER THIS
MEETING SO WE CAN. HAVE A
DIALOGUE AND PICK MY SPONSORS
FOR COMING IN MAKING A SACRIFICE
AND ALL THOSE WHO COME OUT TO
SUPPORT THIS I RESPECTFULLY ASK
BUT I'VE VOTE WHEN A QUORUM IS
ESTABLISH.
OKAY AND WITH THAT I DO I DO
WANT TO REITERATE A FEW THINGS
ONE.
I DO HAVE SOME CONCERNS ABOUT
THRESHOLD OF OWNERSHIP SO I
WOULD APPRECIATE YOU WORKING
WITH BE I'M OPPOSITION ON THAT I
THINK THERE'S A LEGITIMATE
CONCERN THERE THAT I THINK EVERY
MEMBER WHO IS HERE AS EXPRESSED.
I ALSO WANT TO REVIEW THE
AMENDMENTS THAT YOU HAVE AGREED
TO YOU'RE ADDING ASSEMBLY MEMBER
BONTA AS A TRAIN AUTHOR YOU'RE
EXEMPT FTP IMPLEMENTING
REGULATIONS FROM THE
ADMINISTRATIVE PROCEDURES ACT.
REQUIRED TO HAVE TO BE REPORT TO
BE ISSUED WITHIN THIRTY DAYS OF
FEDERAL ACTION.
I DOT THE APPROPRIATE LANGUAGE
NOTED INCOME AND SHE OF THE
COMEDIAN AL SAYS ALSO I WANT TO
CLARIFY AND THAT IN FACT YOU
ARE.
ALLOCATING FIVE PERCENT SEPARATE
FROM WHAT YOU'VE ALREADY
ALLOCATED UP TO CT AND
EARLY CHILDHOOD EDUCATION YOU
ARE ALLOCATING SPECIFYING THAT
AT LEAST FIVE PERCENT OF THE
NEWLY GENERATED REVENUE WILL BE
USED. TO SUPPLEMENT.
THE AGRICULTURE CAREER TECHNICAL
EDUCATION PROGRAM. THAT IS
CORRECT AS PER SECTION WAS
ALREADY QUOTED BY MR CRAP YES
ALRIGHT SO WHEN WE HAVE A QUORUM
THE RECOMMENDATION WILL BE DO
PASS AS AMENDED TO
APPROPRIATIONS. THANK YOU THANK
YOU.
THANK YOU COMMITTEE.
ETCETERA. OKAY MOVING A FILE
ITEM TEN.
WE COULD BE QUIET AS WE EXIT THE
CHAMBER.
LIVING FILE ITEM TEN AB THIRTY
ONE FIFTY SEVEN ASSEMBLY MEMBER
LACKEY IF YOU'D LIKE TO OPEN.
WELL THANK YOU MADAM CHAIR
COMMITTEE MEMBERS.
GOT SOME GOOD COMPETITION THERE.
HAD.
THANK YOU FOR THE OPPORTUNITY TO
PRESENT DAY BE AT THIRTY ONE
FIFTY SEVEN A BIPARTISAN MEASURE
AIMED AT REDUCING THE CANNABIS
BLACK MARKET IN CALIFORNIA.
LET ME START BY SAYING THAT I'LL
BE ACCEPTING THE COMMITTEE'S
PROPOSED AMENDMENTS.
NOW THE VOTERS HAVE ENACTED
PROPOSITION SIXTY FORTS UP JUST
TO MAKE SYSTEM WORK.
WHEN ALL THIS TRANSITION. IS
DIFFICULT FOR AN INDUSTRY BEING
REGULATED FOR THE FIRST TIME IN
CALIFORNIA.
THE WAY I SEE THINGS WE CAN
EITHER SUPPORT THE LEGAL.
REGULATED MARKET.
OR WE CAN CONTINUE TO SEE THIS
ACTIVITY OCCURRED THROUGH
ILLEGAL CHANNELS.
UNLIKE OTHER STATES THAT HAVE
LEGALIZED THE ADULT USE OF
CANNABIS CALIFORNIA HAS A
SOPHISTICATED GRAY MARKET. THAT
HAS BEEN IN OPERATION SINCE
VOTERS APPROVED THE MEDICINAL
USE OF CANNABIS IN NINETEEN
NINETY SIX.
THIS MAKES CALIFORNIA NICHT
OTHER STATES THAT HAVE LEGALIZED
DON'T USE.
CONSEQUENTLY FOUR MONTHS INTO
OUR LEGAL SYSTEM.
WE'RE ALREADY SEEING LEGAL
OPERATORS UNDERCUT BY THE BLACK
MARKET.
CALIFORNIA CURRENTLY LEVEES AN
ESTIMATED FORTY FIVE PERCENT TAX
ON COMPLY AND ACTORS.
THIS INCLUDES A FIFTEEN PERCENT
STATE EXCISE TAX.
THE CULTIVATION TAX OF A HUNDRED
FORTY EIGHT DOLLARS A POUND
SALES TAX RANGING FROM SEVEN
POINT TWO FIVE TO NINE POINT TWO
FIVE PERCENT.
AND LOCAL JURISDICTIONS ALSO ADD
ADDITIONAL TAXES.
COMPOUNDING THIS PROBLEM
REGULATED BUSINESSES ARE UNABLE
TO DEDUCT BUSINESS EXPENSES FROM
THE GROSS INCOME.
AND MUST PAY TO ATTEND PERCENT
FEE.
TO THE STATE.
FOR PAYING TAXES AND CASH
WHICH MANY DUE DUE TO THEIR
INABILITY TO SET UP.
BANK ACCOUNTS THIS COMBINED WITH
THE HIGH COST OF COMPLYING WITH
NEW REGULATIONS THE LICENSE FEES
HAS LED TO HIGH PRICES IN
BECAUSE STICKER SHOCK FOR
CONSUMERS.
AS WE WILL HEAR FROM BOTH
WHITNEY FROM A NEW FRONTIER
DATA.
CONSUMER DEMAND IS EXTREMELY
ELASTIC AS PRICE INCREASES.
DEMAND INCREASES.
HOWEVER CONSUMERS DON'T TURN
AROUND. I'M SORRY TURNED TO AN
ALTERNATE PRODUCT.
THEY TURNED TO AN ALTERNATIVE
MARKET THE BLACK MARKET.
THE CEO OF.
ART BICU GROUP A CANNABIS
RESEARCH FIRM RECENTLY STATED
IT'S CLEAR THAT EVERY ADDITIONAL
PENNY OF PRICE INCREASE ILLEGAL
CANNABIS PRODUCTS
ONLY SERVES TO BOOST THE
ATTRACTIVENESS OF PURCHASING.
FROM THE ILLICIT MARKET.
AS SOMEONE WHO SPENT TWENTY
EIGHT YEARS LAW ENFORCEMENT KNOW
HOW SOPHISTICATED CALIFORNIA'S
BLACK MARKET FOR CANNABIS HAS
BECOME.
CRIMINALS DO NOT PAY TAXES THEM
DOWN UNSURE CONSUMERS ARE
PURCHASING AGE.
THEY DO NOT FOLLOW PRODUCT
SAFETY REGULATIONS.
BY TEMPORARILY LOWERING THE
EXCISE TAXES SUSPENDING THE
CULTIVATION TAX FOR THREE YEARS.
WHERE ALLOWING TIME FOR
BUSINESSES AND CONSUMERS TO
TRANSITION AWAY FROM THE BLACK
MARKET AND INTO THE REGULATED
MARKET?
ADDITIONALLY I STRONGLY BELIEVE
THAT THIS BILL AB THIRTY ONE
FIFTY SEVEN WILL ULTIMATELY
INCREASE CANNABIS TAX REVENUES.
BY DECREASING THE AMOUNT OF
BLACK MARKET ACTIVITY AN
INCREASING THE SHARE OF CANNABIS
PRODUCTS THAT ARE TAXED IN THE
LEGAL MARKET.
THIS IS WHAT HAPPENED IN
WASHINGTON AFTER THEY REDUCE
THEIR TAXES AND SIMPLIFIED THEIR
TAX SYSTEM.
WITH ME TODAY IS ASSEMBLY MEMBER
BONTA WHOSE JOINT OFFERING THIS
BILL. AND BO WHITNEY OF NEW
FRONTIER DATA.
WHO DOES NOT HAVE AN OFFICIAL
POSITION ON THE BILL BUT
COMPLIED ECONOMIC ANALYSIS OF
HOW CANNABIS TAXES?
AFFECT THE BLACK MARKET AND
CONSUMER BEHAVIOR.
THANK YOU FOR THE OPPORTUNITY TO
CO PRESENT I'M PROUD TO BE A
JOINT AUTHORED ON THIS BILL
WORKING WITH ASSEMBLY MEMBER
LACKEY IN A BIPARTISAN FASHION
SOMETHING THAT WE.
STARTED A COUPLE YEARS AGO WHEN
THE TWO OF US ALONG WITH
ASSEMBLY MEMBERS WOULD IN JONES
SAWYER. AND.
COOLEY WORKED ON THE MEDICAL
CANNABIS REGULATION AND SAFETY
ACT ART HAS ALWAYS BEEN OUR GOAL
TO CREATE A REGULATED CANNABIS
MARKETS PLACE THAT PROTECTS THE
PUBLIC IN CHILDREN. THAT
PROTECTS THE ENVIRONMENT THAT
ENSURE SAFE PRODUCTS
AND COMBATS THE LIZARD MARKET
AND IT'S THAT LATTER GOAL TO
COMBAT ILLICIT MARKET THAT THIS
BILL IS REALLY ABOUT. AND THAT
WITH THIS TEMPORARY THREE YEAR
LOWERING OF TAXES ABOUT REALLY
ENCOURAGING AND SENT.
INDUSTRY MEMBERS TO MIGRATE
FROM THE BLACK AND GREY MARKET
INTO AT THE REGULATED
MARKETPLACE AND INTERESTINGLY
BASED ON STUDIES IN OREGON AND
WASHINGTON. BY LOWERING TAXES
YOU CAN ACTUALLY GENERATE MORE
TAX REVENUE BECAUSE MORE
BUSINESSES WILL MIGRATE OVER TO
THE REGULATE MARKETPLACE PAY
THEIR FAIR TAX SHARE AND CREATE
AN AGGREGATED POT. OF TAXES THAT
WILL BE LARGER IF.
THEM WITH A HIGHER TAX RATE
WHICH WOULD BE OUT OF A BAR FROM
MANY TO ACT EVER COME TO THE
REGULATED MARKETPLACE.
ITS THIS IS TEMPORARY SO WHEN.
DEREGULATED MARKETPLACE TAKES
ITS
TAKES ROOT OUT SO THAT WE WILL
RETURN TO THE ORIGINAL TAX RATES
BUT THIS IS SUCH AN IMPORTANT
YEAR YEAR ONE. WHERE? BUSINESSES
ARE MAKING THE DECISION WHETHER
TO EITHER BE AND ARE CONTINUE
AND THE GREATER BUT A BLACK
MARKET OR TO GO TO THE REGULATE
MARKETPLACE THAT WE THINK WE
SHOULD DO EVERYTHING IN OUR
POWER TO MAKE SURE THAT THE
GOAL.
OF THEM SIERRA SAY THE GOAL PROP
SIXTY FOUR WHICH IS TO BRING
EVERYONE CALIFORNIA INTO THE
REGULATED MARKETPLACE.
IS GIVEN AS MUCH SUPPORT AS
POSSIBLE THANK YOU FOR THE
OPPORTUNITY TO PRESENT
RESPECTFULLY ASK YOU AYE VOTE.
WITNESSES IN SUPPORT.
MADAM CHAIRMAN MEMBERS OF THE
COMMITTEE MY NAME IS BO WHITNEY
I'M THE SENIOR ECONOMIST FROM
NEW FRONTIER DATA.
NEW FRONTIER IS A.
INDEPENDENT TECHNOLOGY DRIVEN.
ANALYTICS COMPANY SPECIALIZING
IN THE CANNABIS INDUSTRY.
WE OFFER VETTED DATA ON BUSINESS
INTELLIGENCE AND RISK MANAGEMENT
SOLUTIONS.
FOR INVESTORS OPERATORS AND
POLICY MAKERS.
NEW FRONTIER DATA. DATA RESEARCH
ANALYSIS AND REPORTS HAVE BEEN
CITED MORE THAN FIFTY COUNTRIES.
A WORLDWIDE AND HAS INFORMED
ARMENIAN INDUSTRY LEADERS.
A NEW FRONTIER DATA. ARMED IS
NOT TAKING A POSITION ON THIS
BILL HOWEVER AS A GLOBAL LEADER.
IN THE AREA OF CANNABIS INDUSTRY
ANALYTICS WE'RE PROVIDING. THIS
ANALYSIS AND DATA ON THE IMPACT
OF THE PROPOSED BILL ONTO THIS
ASSEMBLY.
I AM NEW FRONTIER DATA HAS
PREVIOUSLY ANALYZED AND PROVIDED
FEEDBACK ON MULTIPLE CANNABIS
REGULATORY DEPLOYMENTS BOTH
DOMESTICALLY IN THE U. S. AND
INTERNATIONALLY.
I'M ONE COMMON ISSUE FACING.
THE DEPLOYMENT OF THESE PROGRAMS
IS HELD TO ENABLE PARTICIPATION
IN THE LEGAL MARKETS.
AND HOW TO MAXIMIZE THE
CONVERSION FROM THE ILLICIT
MARKET.
WHILE SUPPORTING PUBLIC SAFETY.
I'M AN ECONOMICS TAXES SERB TO
FUNDAMENTAL PURPOSES
TO INCREASE REVENUES TO THE
TAXING BODIES. OR TO CHANGE THE
BEHAVIOR OF THOSE BEING TAXED.
THE EFFECTIVENESS OF THOSE TAX
POLICIES DEPEND UPON HOW
SENSITIVE TAXPAYERS ARE TO
CHANGES IN PRICE.
I'M.
ELASTICITY IS A MEASURE OF HOW
DEMAND CHANGES WITH RELATION.
I TO A CHANGE IN PRICE AND
CONSUMERS OF CANNABIS ARE VERY
PRICE SENSITIVE. WHICH MAKES
DEMAND THE LAST STICK.
AND PRICES THE DETERMINING
FACTOR IN THE DECISION TO
PURCHASE.
OR PRODUCE LEGALLY.
I'M TAXES ON ELASTIC PRODUCTS
TEND TO IMPACT.
PRODUCERS MORE THAN CONSUMERS.
THE CULTIVATION TAX CORRECTS A
PERMANENT BARRIER BETWEEN THE
LISTED PRICES IN LEGAL PRICES.
THAT GAP INCREASES MORE AND MORE
AS WHOLESALE PRICES
COMMODITIZED.
PRODUCERS MUST CHOOSE TO COMPETE
WITH THE ILLICIT MARKET.
OR JOIN THE ILLICIT MARKET OR
EXIT THE MARKET ALTOGETHER.
I'M WHEN IT COMES TO.
THAT PRICING COMPETITION WITH
ILLICIT MARKET.
SO OF THEM
SO IN A SENSE THAT THE THEIR
CULTIVATION TAX COMBINED WITH
THE. AYE EXTRA BURDEN OF THE
EXCISE TAXES IS MAKING.
CULTIVATORS INTO SPACE LESS
COMPETITIVE.
AVAILABILITY OF SUPPLY IN THE
LIST OF MARKET MAKES IT POSSIBLE
FOR CONSUMERS TO TOGGLE BACK AND
FORTH BETWEEN THE TWO MARKETS.
I'M CURRENTLY THERE'S AN
ESTIMATED AYE IT'S ESTIMATED
THAT BY JUNE.
SIXTY PERCENT OF CONSUMERS
OR TWO POINT ONE MILLION.
PEOPLE WILL BE PURCHASING IN THE
ILLICIT MARKET.
A REDUCTION OF THE FIFTEEN
PERCENT EXCISE TAX.
AND THE TEMPORARY SUSPENSION OF
THE CULTIVATION TAX WOULD
THEORETICALLY INCENTIVIZE
CONSUMERS TO PARTICIPATE. IN THE
LEGAL SYSTEM.
AND WILL MAKE THE PRODUCERS MORE
COMPETITIVE WITH RESPECT THE
ILLICIT MARKET SUPPLIERS.
A FOUR PERCENT REDUCTION IN THE
STATE EXCISE TAX FOR EXAMPLE. WE
WOULD EXPECT TO SEE AN INCREASE
IN LEGAL PARTICIPATION BY ONE
HUNDRED NINETEEN THOUSAND
CONSUMERS.
GENERATING AN ESTIMATED
ADDITIONAL TWO HUNDRED SEVENTY
MILLION. DOLLARS OF RETAIL
REVENUE.
ASSUMING THAT THE. ILLICIT
MARKET IS EVENTUALLY MINIMIZED.
THE RESULT WOULD EVENTUALLY BE
THAT.
CONSUMERS HAVE FEWER SUPPLY
OPTIONS.
DEMAND WOULD BECOME LESS ELASTIC
AND TAXES COULD THEN BE
GRADUALLY RAISED.
I AM IN ORDER TO INCREASE
REVENUES.
I AM SO THOSE ARE SOME OF THE
HIGHLIGHTS FROM THE TAKE AWAY
THAT I GAVE I'M IN ADDITION TO
THIS TESTIMONY.
AMONG OTHER A SIX PAGE RIGHT UP
HERE THAT PROVIDE SOME CHARTS
AND GRAPHS.
SOME OF THE.
IMPACT AT THE OF THE
CULTIVATION TAX.
I'M ON COST RELATIVE TO THE
PRODUCERS CULTIVATORS.
SO AT THIS POINT.
I WILL JUST TAKE ANY QUESTIONS
IF YOU HAVE THEM.
THANK YOU VERY TESTIMONY
ADDITIONAL WITNESSES IN SUPPORT.
GOOD AFTERNOON ELEANOR TEES ON
BEHALF OF SAVE THE REDWOODS
LEAGUE AND SUPPORT THINKING.
ASHLEY WALKER WITH NAS MEN ON
BEHALF OF THEM MONTEREY COUNTY
BOARD OF SUPERVISORS IN SUPPORT.
MORE INTERNET I WITH THE UNITED
CANADA'S BUSINESS ALLIANCE
REPRESENT OVER A HUNDRED LEGAL
DISPENSARIES INSANE CALIFORNIA.
AND RIGHT NOW AS YOU WANT TO
DISPENSARY YOU MAKE A PURCHASE
OF SIXTY DOLLARS YEAR AND THE
PAIN TWENTY ONE DOLLARS IN
TAXES.
IT'S PRETTY HIGH WHAT THEY'D
LEGAL ADVERTISING IS GOING ON
WE'RE PUSHING EVERYBODY INTO THE
BLACK MARKET AND THERE'S GONNA
BE A POINT WE'RE GONNA HAVE TO
DECIDE. WHAT WE DO WE DO WE ARE
FOLKS WE GET OUT AND THEN YOU
ARE LEFT WITH NO LEGAL RETAIL
WHICH JUST LEAVES A BLACK MARKET
IN PLACE IT'S THAT WE NEED THAT
BREAK AND THANKS TO THE AUTHORS
FOR BRINGING THAT BILL FOR?
YOU CHAIR MEMBERS JEAN HURST
HERE TODAY AND WE HAVE FOR THE
RIVERSIDE COUNTY BOARD OF
SUPERVISORS AND SUPPORT.
GOOD AFTERNOON MEMBERS TO EXCUSE
ME TRACY STEVENS ON BEHALF OF
EASE SOLUTIONS STRONG SUPPORT
ALSO ON BEHALF OF CSUN EVA IN
STRONG SUPPORT AND WE WANT TO
THANK THE AUTHORS FOR ALL YOUR
HARD WORK.
I GOOD AFTERNOON MICHAEL CHEN
WITH A CALIFORNIA ASIAN CHAMBER
OF COMMERCE IN SUPPORT.
TONY BLOODBATH REFLECTIVE HERE
SUPPORT.
ANNIE JENKINS ON BEHALF OF THE
CALIFORNIA CANNABIS INDUSTRY
ASSOCIATION STRONG SUPPORT ALSO
ON BEHALF OF CANNA. IN STRONG
SUPPORT THANK YOU.
POLITICAL COMMUNISM BEHALF OF
THE HAWTHORNE GARDENING COMPANY
IT'S A SUBSIDIARY OF THE SCOTTS
MIRACLE GRO COMPANY WE ON
NUMBER OF HYDERABAD HYDROPONICS
BUSINESSES NEW TRANSLATING.
SUPPLIES FOR CANNABIS GROWERS
MARIN STRONG SUPPORT WE EMPLOY
OVER A HUNDRED.
EMPLOYEES HERE IN THE STATE
THINK.
HITTING IT ON BEHALF OF WE DROP
CANNABIS DELIVERY AND THE LONG
BEACH COLLECTORS ASSOCIATION IN
SPORT AND.
MAX BOOT WAS A MAP OF THE
CALIFORNIA CAMPUS DELIVERY
ALLIANCE OF FLOW COMMENTS
SUPPORT THANK YOU.
DANIEL CONLEY WITH TRUTH
ENTERPRISES WE OPERATE SEVERAL
LICENSE CANNABIS BUSINESSES HERE
IN THE STATE APPRECIATE YOUR
LEADERSHIP ON THIS ISSUE AND
APPRECIATE YOUR SUPPORT TODAY
THANK YOU.
I GET AFTERNOON AARON NORWOOD ON
BEHALF OF THE CANNABIS
DISTRIBUTION ASSOCIATION AND
SUPPORT THINKING.
JASON BRYANT CALIFORNIA GROWERS
ASSOCIATION.
BIG THANKS TO THE AUTHORS AND WE
ARE IN SUPPORT.
RAND MARTIN ON BEHALF OF CMG
COOLEY THE BASIN SAN JOSE M.
BLACKBIRD LOGISTICS AND SUPPORT
THANK YOU.
BANLIEUE BOND WITH CALIFORNIA
SPENDING CHAMBERS OF COMMERCE.
AND CALIFORNIA BLACK CHAMBER OF
COMMERCE.
ELEVEN PERCENT IS NOT ENOUGH BUT
WE STILL SUPPORT THE BILL.
THINKING.
THANK YOU TO SHOW WITNESSES IN
SUPPORT.
XENON WITNESSES IN OPPOSITION.
KAREN LEGGETT PRIMARIES FOR AREA
AND I. AGAIN I RESPECT THE
AUTHORS.
BUT I WANT TO REMIND YOU THAT
THE. CALIFORNIA RESIDENTS CAN
GROW UP TO SIX PLANTS BY
THEIRSELF WHICH THEY'RE DOING.
BECAUSE I'M NGUYEN ONLINE IN MY
AREA AND THERE WAS A FINE
TRAVEL.
SO THIS ONE IS ANOTHER LIVE BY
THE INDUSTRY TO TRY TO GET MORE
PROFITS FROM THIS STATE.
SO PLEASE VOTE NO.
SO THEN OUTWEIGHED THE STATE
WILL BE ABLE TO GET THE FINDING
THAT THEY'RE SAYING THAT THEY
WANT.
AND THE POD GROWERS OF BE HELD
ACCOUNTABLE. THANK YOU.
AND AGAIN I'M SORRY BUT I HAVE
TO SAY NO.
THANK YOU ADDITIONAL WITNESSES
OPPOSITION.
SEEING NONE WILL BRING IT BACK
TO COMMITTEE MEMBERS IS THERE
ANY DISCUSSION.
BUT I I JUST A QUICK QUESTION.
TO SIR YOU MENTIONED THAT A
FOUR PERCENT REDUCTION EQUATED
TWO HUNDRED NINETEEN THOUSAND.
FOLKS
GOING THE LEGAL WAY SO MY
QUESTION IS WHY ELEVEN.
AND WHY NOT MAKE IT ZERO OR FIVE
FOR.
SO I MISSED THE QUESTION.
IN THE I'M ANALYSIS THAT I I DID
I JUST LOOKED AT THE PROPOSED
LEGISLATION.
AND TRY TO DETERMINE IN A
NEUTRAL MANNER OUT WHAT THE
IMPACT WOULD BE.
THANKS OR MAYBE IT'S A QUESTION
FOR THE AUTHORS DID A LOT OF THE
NUMBER OF JUST CURIOUS WHY THE
NUMBER ELEVEN WAS CHOSEN FOR.
USED THE.
SOME OF THE NUMBERS THAT OTHER
STATES AND EXPERIENCE TO SO WE
WANTED TO HAVE THE SIMILAR. A
RESULT THAT THEY DID AND WE WANT
TO COME WITH REASONABLE.
APPROACH IN ORDER TO GET THIS
TO US GET UNDERWAY.
THANK YOU SO LACKEY.
SEEING NO FURTHER DEBATE.
DID YOU SAY YOUR ACCEPTED A
COMMITTEE AMENDMENTS
I CERTAINLY DIDN'T JUST READ
THOSE FOR THE RECORD.
.
DELAY THE OPERATIVE DAY
SPECIFICALLY THE PROVISIONS OF
THE BILL WOULD BECOME OPERATIVE
ON THE FIRST DAY OF THE FIRST
CALENDAR QUARTER COMMENCING.
MORE THAN THIRTY DAYS AFTER THIS
BILL IS ENACTED.
AND THE RECOMMENDATION IS TO
PASS AS AMENDED AYE WE'RE STILL
TO SUBCOMMITTEE BUT IF YOU'D
LIKE BECAUSE.
WE WERE JUST ASKS FOR YOUR EYES.
I SUPPORT AND WE THANK YOU FOR
THE COOPERATION.
MISTER SANTIAGO.
LIKE TO PERCENT.
FILE ITEM ONE A. B. NINETEEN
FORTY TWO. THEY BEGIN WHENEVER
YOU'RE READY.
BIGGEST CHAIR WOULD BE CHAIR
PREFER THAT I AM BRIEF OR MY
TYPE PRESENTATION.
IT SUB YOU SIR WERE STILL
SUBCOMMITTEE SO WAIT ON OTHER
MEMBERS.
FOR SELECT EXCEPT THE
COMMITTEES.
RECOMMENDED TECHNICAL
AMENDMENTS
I KNOW THE THE.
CHAIR AND AND MYSELF WILL
CONTINUE TO WORK ON SOME OF
THOSE ISSUES HOW THAT WE'RE NOT
ABLE TO RESOLVE THE HOT DURING
THE.
I JOIN THE BEGINNING OF THIS
YEAR. IN SHORT THE.
A. B.. NINETEEN FORTY TWO DOES
TWO THINGS IT IT REVISE OF THE
TWO MOST BASIC TAX FORMS AND
PROVIDES NOTIFICATION OF CAL
WORK RECIPIENTS. ABOUT POTENTIAL
ELIGIBILITY THE GOAL HERE IS TO
ENROLL AS MANY PEOPLE IN THE ITC
PROGRAM AS POSSIBLE.
I AND SO WILL LOOK AT BOTH FORMS
THE A FIVE FORTY AND THE A FIVE
FORTY EASY.
I THINK YOU MISTER CHAIR WITH ME
OF WITNESS WILL ALSO BE BRIEF
THINK.
I AYE CHEERLEADER NOW IF YOU HAD
WAYS OF CALIFORNIA AND WE REALLY
APPLAUD THE.
ASSEMBLY MEMBERS EFFORT TO MAKE
SURE THAT AS MANY PEOPLE IN THE
STATE OF CALIFORNIA FIND OUT
ABOUT THE KELLY IDC AND TAKE
ADVANTAGE OF IT WE KNOW IT'S A
HUGE. POVERTY FIGHTING.
A MEASURE AND THE PROGRAM IS
BECOMING MORE MORE SUCCESSFUL
BUT ARE CHALLENGES THAT A LOT OF
PEOPLE MOSTLY PEOPLE THAT
QUALIFY CURRENTLY ARE BELOW THE
INCOME LEVEL FOR FILING TAXES.
SO WE NEED TO DO THE OUTREACH WE
NEED TO MAKE SURE THE FORMS ARE
AVAILABLE TO THEM AND WE NEED TO
MAKE SURE THAT THEY ARE DIRECTLY
TO FREE TAX PREP SO THEY DON'T
SPEND THEIR PRECIOUS FEW DOLLARS
ON PAID TAX PREPARERS.
SO WE ARE IN SUPPORT THANK YOU.
ADDITIONAL WITNESSES IN SUPPORT.
GOOD AFTERNOON MONICA SEMI ON
BEHALF OF THE CALIFORNIA
ALTERNATIVE PAYMENT PROGRAM
ASSOCIATION AND WE'RE HERE IN
SUPPORT THANK YOU. THANK YOU
ADDITIONAL SUPPORT SEEING NON
WITNESSES IN OPPOSITION.
SEEING NON COMMITTEE MEMBERS OF
WHICH HOTEL.
MISTER SANTIAGO I HAD.
I HAD SOME CONCERNS ABOUT THIS
BILL IT WAS LITTLE BIT SKITTISH
ABOUT IT AND YOU WENT TO GREAT
LENGTHS TO EXPLAIN IT TO ME.
BECAUSE YOU FIGURED OUT RIGHT
FROM THE BEGINNING I HAVE KIND
OF A HARD HEAD AND I NEED SOME
HELP.
.
I HAVE TAX PROFESSIONALS PREPARE
MY TAX.
AND FOR POOR PEOPLE AND PEOPLE
WITHOUT THE ABILITY TO HAVE TAX
PROFESSIONALS AND I WAS A POOR
PERSON FOR MANY YEARS.
I KNOW EXACTLY WHERE YOU'RE
COMING FROM I THINK YOU'RE
AMENDMENTS ARE GOOD AND I
SUPPORT THIS.
THEY HAVE HELPED.
ITEMS OF ABOUT.
DOES SHE KNOW THIS SHOW MEMBERS
THAT WISH TO SPEAK.
JOINT CLOSE UP THANK YOU MISTER
CHAIR AND MEMBERS OF THE
COMMITTEE THANK YOU FIRST AT THE
TOP THE WORK WITH US A REST
ASSURED IT WILL CONTINUE TO WORK
ON THE. ISSUES.
THAT WERE WE WERE A SPOKEN TO
BY THE CHAIR EARLIER AND WERE
LOOKING HOPEFULLY GET A BILL
THAT HELPS INCREASE THE I TT
PARTICIPATION OF WITH THE STATE
OF CALIFORNIA THANK YOU. THAT
THANK YOU FOR BRINGING IT
FORWARD AS A MENTOR STILL
SUBCOMMITTEE SO WILL TAKE
APPROPRIATE ACTION WILL BE
BECOME COR. THANK YOU THANK YOU.
VOEPEL WHILE WE'RE WAITING WOULD
YOU LIKE TO PERCENT FILE ITEM
FOR AB TWENTY FOUR SEVENTY
EIGHT.
WE'RE WAITING ON TO ADDITIONAL
AUTHORS MISTER GRAYSON AND
MISTER FRAZIER.
LAST TWO ITEMS ON THE FIVE.
WHATEVER YOU READY MUST FULFILL.
MISTER CHAIR. MADAM CHAIR.
COLLEAGUES I'M HERE TO PRESENT
AB TWENTY FOUR SEVENTY EIGHT
THIS
STUDENT LOAN ASSISTANCE ACT OF
CALIFORNIA WHICH WORKS TO
ADDRESS THE COLLEAGUES DEAD
EPIDEMIC IN OUR GOLDEN STATE.
AS MOST OF US KNOW. OUR NATIONAL
STUDENT LOAN DEBT HAS REACHED
ONE POINT FOUR TRILLION DOLLARS.
ACCORDING TO THE HILL IN THE
PAST FIVE YEARS ALONE ONE THIRD
OF EMPLOYERS HAVE INCREASED
EDUCATIONAL REQUIREMENTS FORCING
THOUSANDS OF CALIFORNIANS BACK
TO SCHOOL.
TO PURSUE HIGHER EDUCATION AND
INCUR MORE STUDENT DEBT.
STUDENTS.
IN.
COLLEGE TODAY KNOW THAT AND
THEY'RE GOING FOR HIGHER AND
HIGHER DEGREES
TO BECOME COMPETITIVE.
AB TWENTY FOUR SEVEN EIGHT
SPECIFICALLY ADDRESSES THE LOAN
EPIDEMIC IN OUR OWN STATE BY
PROVIDING A TAX FREE INCENTIVE
ON THE STATE TAX PORTION OF THE
STUDENT LOAN REPAYMENT PLAN.
CURRENTLY A STUDENT REPAYMENT
PLAN OFFERED BY AN EMPLOYER THIS
IS AN EMPLOYEE OR BENEFIT.
IT'S CONSIDERED TAXABLE INCOME.
OR A WAGE. FOR THE EMPLOYEE
LEAVING THOUSANDS OF CALIFORNIA
GRADUATES FACE IN RESIDUAL
INTEREST CHARGES AND INCREASED
DEBT.
THE TAX FREE INCENTIVE ON THE
STATE TAX PORTION OF THE STUDENT
LOAN REPAYMENT PLAN WILL ASSIST.
RECENT GRADUATES IN GETTING OUT
OF DEBT.
AB TWENTY FOUR SEVENTY EIGHT
ENJOYS BIPARTISAN BACKING THANKS
EVERYBODY.
WITH IT'S CO AUTHORS AND
SUPPORTERS AND LIKE TO ACCEPT
THE COMMITTEE AMENDMENT ON
ADDING A FIVE YEAR SUNSET ON
THIS MAJOR.
FOR THESE REASONS MEMBERS I HOPE
YOU SUPPORT ME IN SUPPORTING
THIS MAJOR I RESPECTFULLY ASK
FOR YOUR AYE VOTE. AND WE
ACTUALLY HAVE SOMEONE IN
SUPPORT.
IF IT. GOOD AFTERNOON THANK YOU
MISTER CHAIR FOR INVITING ME MY
NAME IS DANA MAY HUGH AND I AM
THE CHAIR OF PIRATE PASADENA'S
LEGISLATIVE AFFAIRS COMMITTEE. I
WAS ASKED BY CAL SURE ROOM TO
TESTIFY ON THE BENEFITS OF
CALIFON TUBE CALIFORNIA
BUSINESSES. FOR PASSING EMPLOYER
SUPPORTED STUDENT LOAN
ASSISTANCE PROGRAMS WHICH ENABLE
EMPLOYERS TO RECRUIT AND RETAIN.
TALENT.
MANY OF WHICH ARE MILLENNIAL
STRAPPED WITH CRUSHING DEBT.
THIS IS SOMETHING I TAKE BOTH
PROFESSIONALLY AND PERSONALLY.
VERY SERIOUSLY.
FROM A PROFESSIONAL SIDE AS A
HUMAN RESOURCES CONSULTANT WE
ARE HAVING A DEPENDENCE OF THE
TIME RECRUITING AND RETAINING
TALENT. ON A PERSONAL SIDE I
HAVE A YOUNG SON THEY ARE AND
LEAVE RECENT LAW SCHOOL GRADUATE
WHO HAS GRADUATED WITH HONORS
WITH A HUNDRED AND FIFTY
THOUSAND DOLLARS IN DEBT.
TRY TO LIVE WHEN YOU'RE PAYING
THAT ONE BACK.
SO WHERE ARE WE IN HUMAN
RESOURCES IS A BELEAGUERED HUMAN
TELL YOU WITH RESPECT TO ROUTE
OF. CANNELLA OF AND TO
RECRUITMENT IT'S A SELLER'S
MARKET THAT MEANS IT'S DIFFICULT
TO RECRUIT AND EVEN MORE
DIFFICULT TO RETAIN QUALIFIED
EMPLOYEES.
AND THIS IS NOT BY ASSURE YOU
BECAUSE MILLENNIAL SIR HOME
MONEY HUNGRY INDULGE CHILDREN
WITH BLOW BLOATED EXPECTATIONS.
IN MANY WAYS TALENTED TAXES OF
THE THOU BE MILLENNIALS HAVE A
BAD RAP FOR. BEING FIERCE JOB
HARD HUNTERS.
IN TRUTH.
THERE STUDENT LOAN DEBTS ARE SO
STAGGERING THAT ONCE THEY'VE
PAID FOR THE NECESSITIES OF LIFE
THEY HAVE PITIFULLY LITTLE TO
REMAIN TO WORK WITH. AND SUSTAIN
THEIR.
SUSTAIN THEIR THEIR LIVES ANY
STYLE OF LIVING.
AND THEN ONCE THEY FIGURED OUT
THE COST OF LIVING WHEN THEIR
CURRENT JOB THEY HAVE ONE EYE ON
THE DOOR.
ACCORDING TO SURVEYS BY SHERMAN
I ON TUITION AND THE AMERICAN
STUDENTS ASSISTANCE BORROWERS
WORRY ABOUT BORROWERS WORRY
ABOUT THEIR ABILITY TO REPAY
LOANS.
THAT THE US THEY DIFFER DELAYED
THERE IF A FUTURES ISM.
SUCH UNNECESSARY THINGS IS
RETIREMENT.
HOMEOWNERSHIP AND EVEN FAMILIES.
IF A. THIS STUDY SHOW THE LOAN
PAY. LOAN PAID BACK STRESS
REALLY.
STRESS
IT MOVES NEGATIVELY AFFECTING
THE YOUTH OF OUR.
OF. OUR NATION AND SPECIALLY IN
CALIFORNIA THE HEALTH OF THESE
BORROWERS.
IT COSTS EMPLOYERS ABOUT FORTY
PERCENT.
OF THE ANNUAL WAGES TO REPLACE
AN EMPLOYEE.
AND SO THE RECRUITMENT
RETENTION OF NEW EMPLOYEES
REALLY BECOMES QUITE DIFFICULT
WHEN THE THE BORROWERS HAVE TO
GO DUDE TO GREENER PASTURES.
I AM TUITION STATES THAT EIGHTY
SEVEN PERCENT OF THE BORROWERS
DESIRE DOT DESIRE STUDENT LOAN
REPLACEMENT CONCURRENTLY. EIGHTY
SIX PERCENT OF THE BORROWS SAID
AND LISTEN TO THIS CAREFULLY
THEY WOULD COMMIT TO AN EMPLOYER
FOR FIVE YEARS.
COMPANY HELP THEM REPAY THE LOAN
MILLENNIALS DON'T COMMIT FOR
ANYTHING LET ALONE FIVE YEARS.
SO IT PEAK AT TWENTY SEVEN
SEVENTY EIGHT WILL HELP
EMPLOYERS RETAIN TALENT BECAUSE
IT'S OF A. MAJOR RELIEF FROM.
BORROWERS FINANCIAL STRIPS
IT INCREASES CORPORATE PROFIT IT
INCREASES PRODUCTIVITY.
IT SETS PUNITIVE OF FUTURE
GENERATIONS ON A SECURE
FINANCIAL PATH IT CREATES A
HOMEOWNERS WITH THE STATE CALLED
IN THEIR COMMUNITY. IT INSURES
LENDERS PAY BACK IT REDUCES
EMPLOYER.
EMPLOYER PAY EQUITY ISSUES.
AND IT DECREASES THE SKILL GAP
BECAUSE MORE INDIVIDUALS WOULD
BE GETTING HELP THAT THEY NEED
SO THEY CAN. CONTINUE WITH THEIR
HIGHER EDUCATION FOR THIS AND
MANY MORE REASONS I URGENTLY.
REQUEST THAT YOU WILL SUPPORT
THIS BILL
THANK YOU ADDITIONAL WITNESSES
IN SUPPORT.
SEEING NONE.
WELL WITNESSES IN OPPOSITION.
SEEING NONE.
TO VOEPEL DISCUSS ENJOY IT
SUPPORT SUPPORT ON BOTH SIDES SO
IF YOU LIKE CLOSE.
PLEASE VOTE I. THANK YOU.
I'LL TAKE THAT UP AS SOON AS WE
GET A QUORUM.
JOHN.
I LOVE
.
OTHER
.
GOVERNMENTAL
DURING THE WAR.
YEAH.
YEAH
SECOND IS GONE.
JOINT.
THERE.
PALESTINIAN.
NNOVA.
PEARL WAS A LITTLE
.
HELLO
.
BECAUSE THEY
LIVING A FILE ITEM ELEVEN A. B.
THIRTY TWO OH NINE ASSEMBLY
MEMBER FREE.
REYES ARE YOU LEAVING.
I STEPS
.
FOR.
XANDER.
ASSEMBLYMEMBER FRAZIER WELCOME.
THANK YOU MADAM CHAIR.
IT WAS GIVEN THE WRONG.
ANALYSIS.
THANK YOU MADAM CHAIR. THIS IS A
PROPERTY TAX EXEMPTION BILL FOR.
A ONE HUNDRED PERCENT.
.
RESIDENTS ARE TO DISABLED OF FOR
OF THE VETERANS COMMUNITY.
WHAT THEY'VE DONE OF THEY'VE
PAID A PRICE IN IN DUTY?
AND NOW WHAT WE'RE DOING WE'RE
ASKING THEM TO TAKE THE MONEY
THAT WE'VE.
WE'VE DECIDED TO PAY THEM
THROUGH THROUGH THEIR SERVICE
DISABILITY AND THEN ASK THEM TO
PAY IT BACK IN ATTACK FORM OF
ATTACKS.
I WOULD RESPECTFULLY ASK THAT
THIS COMMITTEE.
A HONOR OUR VETERANS BY
EXEMPTING THEM FROM THEIR
PROPERTY TAX LIABILITY AND MOVE
FORWARD SO THAT THEY CAN.
HOW THE SUCCESSFUL LIFE BUT ALSO
IN HONOR OF ALL OF THEIR SERVICE
PATTERN I RESPECTFULLY ASK YOUR
IDOL?
WITNESSES INSOFAR.
WITNESSES IN OPPOSITION.
COMMENTS AND QUESTIONS FROM THE
COMMITTEE.
AND MISTER VOEPEL.
QUICK COMMENT THIS BILL IS SPOT
ON.
AS A VETERAN.
SPEAKING FOR VETERANS.
WHEN DISABLED VETERANS.
OR DISABLED AT SEVENTY PERCENT
THEY GET LESS THAN FOURTEEN
HUNDRED DOLLARS A MONTH.
OR ONE HUNDRED PERCENT IT'S LESS
THAN THREE THOUSAND A MONTH VERY
DIFFICULT TO LIVE ON THAT AND
EVEN IF THEY'RE NOT DISABLED.
.
VETERANS.
SUPPORT OTHER VETERANS IN THIS
BILL GOES TO GREAT LENGTHS WHERE
VETERANS CAN ACTUALLY.
BOB I'M TOGETHER TO BUY.
PROPERTY IN HAVE THE EXEMPTION
SO THANK YOU VERY MUCH THANK YOU
MUST.
COOPER. AMERICANA QUESTIONS FROM
THE COMMITTEE SEEING NINE WOULD
LIKE CLOSE.
JUST RESPECTFULLY ESCRIBIR.
RECOMMENDATIONS DO PASS AS
AMENDMENT AS AMENDED TO VETERANS
AFFAIRS BUT IT.
THE AMENDMENT IS ADDS SIMILAR
PROVISIONS FOR UNMARRIED
SURVIVING SPOUSES I DO ACCEPT
THE COMMITTEE AMENDMENTS GREAT
THANK YOU VERY MUCH WE WILL VOTE
WE HAVE A QUORUM THANK YOU. FOR
YOUR TIME THANK YOU
EVERY DOLLAR.
FILE ITEM NUMBER THREE OUR LAST
BILL FOR THE DAY THOSE WHO ARE
WATCHING A.
.
I STILL NEED A QUORUM AREA FILE
NUMBER THREE AB TWENTY FOUR TEN
ASSEMBLY MEMBER GRAYSON WELCOME
EMAIL.
I AM PLEASED TO PRESENT TO YOU
ASSEMBLY BILL TWENTY FOUR TEN
FIRST I WOULD LIKE TO THANK THE
COMMITTEE FOR WORKING WITH MY
OFFICE AND THIS LEGISLATION. I
ACCEPT THE COMMITTEES AMENDMENTS
PER ANALYSIS WHICH ADDS A SUNSET
CLAUSE.
MEMBERS A SMALL BUSINESS WHICH
OFTEN ELECTS TO FORM AS A
LIMITED LIABILITY COMPANY.
A QUE LLC.
IS REQUIRED TO PAY AN ANNUAL FEE
OF EIGHT HUNDRED DOLLARS ALSO
CALLED THE MINIMUM FRANCHISE TAX
IN CALIFORNIA THE IN CALIFORNIA
REGARDLESS. OF ITS SIZE OR
PROFIT CAUSING A SIGNIFICANT
BARRIER TO.
TO ENTRY FOR SMALL BUSINESSES
AS A SMALL BUSINESS OWNER I KNOW
HOW IMPORTANT CAPITAL IS WHEN
STARTING UP.
ESPECIALLY ALLOWING BUSINESSES
TO GET OFF THE GROUND PRIOR TO
MAKING ANY REVENUE TO CRITIQUE.
AND IT'S CRITICALLY IMPORTANT.
DEBTS EVERY PENNY THEY HAVE
THEY CAN KEEP TO PUT IT BACK
INTO THE BUSINESS WHILE
EVERYBODY SHOULD PAY THEIR FAIR
SHARE. IT MOVE IT MARK THAT MAKE
SENSE
THAT OUR STATE POLICY.
WOULD NURTURE THE KIND OF
ENVIRONMENT THE ECONOMIC
DEVELOPMENT ENVIRONMENT THAT
THAT DOESN'T HINDER SMALL
BUSINESS BUT ACTUALLY ALLOWS TO
PROSPER AND GROW INTO A LARGER
BUSINESS WHICH TURNS THEM INTO A
GREATER. REVENUE GENERATOR SO AB
TWENTY FOUR TEN WOULD LOWER THE
YEARLY FEE FROM EIGHT HUNDRED TO
FOUR HUNDRED DOLLARS IN THE
FIRST TWO YEARS.
AND.
GROSS INCOME WITH LESS THAN TWO
HUNDRED FIFTY THOUSAND GIVING
MANY BUDDING BUSINESS OWNERS A A
BETTER CHANCE THAT ARE BEING
ABLE TO START UP WITH UNDUE
BURDEN. FOR THESE REASONS I
RESPECTFULLY ASK FOR NIGHT OF
ALL AND I WE HAVE A QUORUM SO WE
WANT AND. THAT MISS ISLAND WHICH
YOU TAKE OFF. FOR.
WELL I HAVE. BROWN HERE. QUANTA.
CHU. GRAY HERE MCCARTY MELENDEZ
MULLIN.
TING VOEPEL.
GOT IT THANK YOU IN LITTLE.
SECOND.
YOU WIN ASSISTANCE APART.
YOUR MEMBERS JERRY DOES MENTAL
BEHALF THE CALIFORNIA COALITION
A TRAVEL ORGANIZATIONS THERE
ABOUT SIXTEEN THOUSAND
REGISTERED TRAVEL AGENTS AND
TOUR OPERATORS IN THE STATE MANY
WOULD LIKE TO BECOME. LLC'S OF
OR WOULD START AS NEW SMALL
TRAVEL AGENTS HOME BASED
BUSINESSES IN THIS COULD REALLY
HAVE AN IMPACT ON THEM STARTING
THEIR OPERATIONS. UP IN ADDITION
I'VE BEEN ASKED TO EXPRESS IS A
SPORT OF THOSE CALIFORNIA SMALL
BUSINESS ASSOCIATION OF FOR THE
SAME REASONS
BUT I THINK YOU OTHER WITNESSES
IN SUPPORT.
I GOOD AFTERNOON MICHAEL CHEN
WITH THE CALIFORNIA ASIAN
CHAMBER OF COMMERCE IN SUPPORT.
I THINK YOU WITNESSES IN
OPPOSITION.
SEEING NONE COMMENTS AND
QUESTIONS FROM THE COMMITTEE.
SAYING I WOULD LIKE CLOSE.
I RESPECTFULLY ASK FOR HELP.
I WE CAN ACTUALLY VOTE. OF
WORKING INDIGENOUS TO PASS AS
AMENDED TO APPROPRIATIONS
HUMANITY OUT A FIVE YEAR SUNSET.
WITH THAT MS I WOULD CALL THE
ROLL.
MISSION IS TO PASS IS AMENDED TO
APPROPRIATIONS BURKE AYE BURKE
AYE BRO. BRO I BONTA.
CHU. CHU AYE GRAY AYE GRAY AYE
MCCARTY. MELENDEZ MULLIN TING
VOEPEL.
PHONE CALL EFFECTS ON CALL WE
NEED.
MORE AND MORE NEEDED TO MAKE
YOUR CONTENT CHARACTER.
CONSENT.
I MEAN A SECOND FOR THE CONSENT
CALENDAR.
NO YOU GO.
WHO IS HIGHLY CALL THE ROLL?
FOR I BURKE I'VE GROWN GROW AYE
BONTA.
CHU. CHU AYE.
GRAY. GRAY I AM. MELINDA'S.
MULLIN TING VOEPEL.
THE PELLA IT'S UNCLE.
THANK COMMUTERS ON CALL ON.
UNA FILE ITEM.
FROM ONE.
AB NINETEEN FORTY TWO.
IN MOTION AND A SECOND.
BURGER.
YES I WOULD CALDERON.
WE TO COMPUTER KUBO IT WITH
THAT.
GRAY WAS THE MOTION AND THE
SECOND WAS TO.
THE MOTION IS TO PASS AS AMENDED
TO APPROPRIATIONS BURKE AYE
BURKE AYE WORLD.
BROWN NOT VOTING BONTA CHIU.
A WEEK CHANGE GOING TO NOT
MONNING SORRY.
BIRTH I.
NOT VOTING OR NOT VOTING.
SHOULD BONTA CHIU.
CHIU AYE GRAY.
GREAT VOTING MCCARTY.
MELINDA THIS.
MULLIN.
TING VOEPEL.
VOEPEL AYE IT'S ON CLIMATE NEEDS
FOR THAT BILLS ON CALL MOVING
FILE ITEM TO AB TWENTY FORTY
TWO.
A SILENT COLOR OFF.
YOU. KNOW MOTION A SECOND MOTION
VIBRAM.
SECOND I AGREE.
THE MOTION IS TO PASS AS AMENDED
TO APPROPRIATIONS BURKE.
BURKE I BROUGH. BRO I BONTA.
CHU. CHU AYE GRAY AYE GRAY AYE
MCCARTY.
MELINDA THIS.
MULLIN.
TING.
FILE ON VOEPEL.
VOEPEL I.
MULLIN I.
BILLS THAT THOUGH IS OUT MOVING
A FILE ITEM THREE A. B. O. WE DO
THAT. MOVING A FILE ITEM FOUR
OH.
I CAN LIVE THE CALL A LIFT THE
CALLING FILE ITEM THREE AB
TWENTY FOUR TEN.
CALLER ABSENTEES BONTA. MCCARTY.
MELINDA'S.
MULLIN.
MULLIN AYE TING.
THAT BILL IS OUT.
LIVING TO FILE ITEM FOR AB
TWENTY FOUR SEVENTY EIGHT.
THE BILL.
IT'S LIKE I COULDN'T.
SIR GRAY.
THE MOTION IS TO PASS THIS
AMENDED TO APPROPRIATIONS BURKE
AYE BURKE AUTO BROLL. PEROT AYE
BONTA.
CHIU.
CHU AYE GRAY. GRAY AYE MCCARTY
MELENDEZ MULLIN.
MULLIN AYE TING. VOEPEL. VOEPEL
AYE THAT GO OUT.
THE BILL IS OUT MEDINA FILE ITEM
FIVE AB TWENTY FIVE OH THREE.
THE MOTION WE KNEW THE SECOND
CIRCUIT. EMPLEO.
CALL THE ROLL.
THE MOTION IS TO PASS WAS
AMENDED TO APPROPRIATIONS.
BURKE AYE BURKE AYE BURL.
BRAILLE AYE BONTA. BONTA RHS
YOU.
CHIU AYE.
GRAY.
I PRAY I MCCARTY MELINDA IF.
MULLIN.
MULLIN AYE TING. VOEPEL.
THE POWER. PHYLLIS OUT.
THAT BILL IS OUT MOVING A FILE
ITEM SEVEN AB TWENTY SEVEN
THIRTY ONE.
A MOTION AND A SECOND.
TWO IS MOVES THE BILL SECOND USE
AGAIN.
OKAY.
YEAH YOU WANNA BE A COFFEE
CONSECUTIVE PARTS OF THE SEGMENT
JOIN OUR.
AND. CALDERON DEMOTION IS TO
PASS.
SECOND.
I AM.
THE MOTION IS DO PASS AS
AMENDED.
TO APPROPRIATIONS.
BURKE.
BRETT HULL WHO KNOW.
BRUNO BONTA. BONTA AYE CHIU.
CHIU AYE GRAY.
BY GRAY AYE MCCARTY. MELINDA'S.
MELINDA'S NO.
MULLIN.
MULLIN AYE TING.
VOEPEL.
BILLS ON CALL IT NEEDS ONE THAT
BILL IS ON CALL MOVING A FILE
ITEM HEAT AB TWENTY NINE FIFTY
FOUR.
AM.
IS ON CONSENT.
WE NEED IT.
.
THAT CALL ABSENTEES.
ON THE CABALLERO KNOWN DOUG.
OKAY.
LIZ'S CONSENT CALENDAR WE'RE
GONNA OPEN THE ROLL CALL BONTA.
BONTA AYE MCCARTY.
MELINDA'S
MELINDA'S ARE AYE MULLIN.
MULLIN AYE TING.
COUNTERS
CONSENT COUNTERS OUT MOVING IF.
FILE ITEM NINE AB TWENTY NINE
FIFTY SEVEN AND EMOTION AND THIS
I CAN'T.
BUT WHEN A MOTION BY BROE'S
SECOND VIOLENT IS CALL THE ROLL.
THE MOTION IS TO PASS IS AMENDED
TO APPROPRIATIONS BURKE.
BURKE I'VE BROUGH. BRO I BONTA.
BONTA AYE CHIU.
CHIU AYE GRAY.
GRAY AYE MCCARTY. WILL INDUCE.
ONE YES I MULLIN.
MULLIN AYE TING. VOEPEL.
VOEPEL OUT THAT BILL IS. THAT
BILL IS OUT MOVING A FILE ITEM
TEN AB THIRTY ONE FIFTY SEVEN.
AM MOTION AND A SECOND.
MOVED BY A GROWING UNITS I CAN'T
SECOND BY BONTA.
THE MOTION IS TO PASS AS
AMENDED.
TO THE BUSINESS AND PROFESSIONS
COMMITTEE.
BURKE AYE BURKE AYE PEARL. GROW
AYE BONTA.
BONTA AYE CHIU.
CHIU ARE AYE GRAY.
GRAY AYE MCCARTY. MELINDA'S.
MELINDA'S NOT VOTING MULLIN.
MULLIN AYE TING.
TING AYE VOEPEL.
THE APPELLATE VOTING THAT BILL
IS OUT THAT BILL IS OUT MOVING A
FILE ITEM ELEVEN A. B. THIRTY
TWO OH NINE AND IN A MOTION AND
A SECOND.
FRAZIER.
OKAY.
OCEAN BY TWO SECOND BY GRAY.
THIS IS AB THIRTY TWO AND I AM
BY FRAZIER. CALL THE ROLL. THE
MOTION IS DO PASS AS AMENDED TO
VETERANS AFFAIRS.
BURKE.
BURKE OUR AYE BROUGH. GROW AYE
BONTA.
BONTA AYE CHIU.
CHIU AYE GRAY. GRAY AYE MCCARTY.
MULLIN DOES
MELINDA'S ARE AYE MULLIN.
MULLIN AYE TING.
TING AYE VOEPEL.
THE PANEL I.
AB GOES OUT AND WE CAN TOO OUT
ON.
SENATE MOVED TO ADD ONS.
OH LOOK THE COLON NUMBER PLEASE.
YEAH WITH THE CALL ON.
ITEM NUMBER ONE A. B. NINETEEN
FORTY TWO CALLED THE ABSENTEES
BONTA. MONSTER AYE. MCCARTY
MELINDA'S.
MELINDA'S AYE MULLIN.
MULLIN AYE TING. TING.
THAT VILLAGE OUT OF MOVING BACK
FILE ITEM SEVEN AB TWENTY SEVEN
THIRTY ONE CALL THE ABSENTEES.
MCCARTY.
TING. TING AYE.
SO THAT BILL IS OUT. THERE TO.
.
START WITH NUMBER TO START WITH
NUMBER TO FILE ITEM AB TWENTY
FORTY TWO.
CALL THE ABSENTEES BONTA MONTHS
I'M MCCARTY. MELENDEZ LINDA'S
AYE TING.
PLAYING NOW.
I AM I AND NUMBER THREE EIGHT.
AB TWENTY FOUR TEN CALL THE
ABSENTEES BONTA.
BONTA AYE MCCARTY. MELINDA'S.
MELINDA'S AYE TING.
TING NOT VOTING.
LUNA FILE ITEM FOR AB TWENTY
FOUR SEVENTY EIGHT CALL THE
ABSENTEES BONTA.
BONTA AYE. MCCARTY.
MELINDA'S.
MELINDA'S AYE TING.
CHIANG NOW.
FILE ITEM FIVE AB TWENTY FIVE A
THREE CALL THE ABSENTEES.
MELINDA'S.
MULLIN DISHEARTENING.
TING I FILE ITEM SEVEN AB TWO
ONE AND WE JUST ABOUT FILE ITEM
EIGHT AB TWENTY NINE FIFTY AND
THAT'S CONFLICTS MONTH.
AND LET ME JUST GO THROUGH
EVERY.
BOB FILE ITEM. NINE AB TWENTY
NINE FIFTY SEVEN FIVE MCCARTY
TING.
WELL.
TING NO.
IF IT.
FILE ITEM TEN AB THIRTY ONE
FIFTY SEVEN HAVE EVERYONE OUT.
THERE.
I ALAMEDA BACK THROUGH IT ONE
MORE TIME.
LET ME GO THROUGH IT ONE MORE
TIME.
PUTTING ON THE CONSENT CALENDAR.
TING AYE
.
I AM FILE ITEM ONES ARE.
VOTE STEREO THEY CAN THANK OUR
FINAL AND NUMBER EIGHT AB TWENTY
NINE FIFTY FOUR CALL THE
ABSENTEES MCCARTY.
MCCARTY I.
FILE ITEM ONE AB IN NINETEEN
FORTY TO CALL THE ABSENTEES
MCCARTY.
MCCARTY I FILE NUMBER TWO AB
TWENTY FORTY TO CALL THE
OBSCENITIES MCCARTY.
MCCARTY I FILE ITEM THREE AB
TWENTY FOUR TANK ALL THE
ABSENTEES MCCARTY.
MCCARTY I.
FILE ITEM FOR AB TWENTY FOUR
SEVENTY EIGHT CALL THE ABSENTEES
MCCARTY.
MCCARTY I FILE NUMBER FIVE AB
TWENTY FIVE A THREE CALL THE
ABSENTEES MCCARTY.
MCCARTY I FILE ITEM SEVEN AB
TWENTY SEVEN THIRTY ONE CALL THE
ABSENTEES MCCARTY.
MCCARTY I FILE ITEM NINE AB
TWENTY NINE FIFTY SEVEN CALL THE
ABSENTEES.
MCCARTY.
MCCARTY I FILE ITEM TEN AB
THROUGH OUR THIRTY ONE FIFTY
SEVEN CALL THE ABSENTEES
MCCARTY.
MCCARTY I FILE ITEM ELEVEN AB
THIRTY TO OWN NINE KILEY
ABSENTEES MCCARTY.
MERGER