GOOD MORNING WE ARE GOING TO
CALL TO ORDER THE MEETING OF
BUDGET SUBCOMMITTEE NUMBER SIX.
SINCE IT'S A THURSDAY WE'RE
GONNA TRY TO BE EXPEDITIOUS.
AND I DO SEE WE HAVE ONE
PARTICULAR AUTHORED. THAT THIS
DOESN'T SAYS THEY ARE FOR THE
GENTLEMAN WHO STEP THAT'S
SHORTEST COMMUTE.
IF EVERYBODY ELSE'S YEAH
PACIFICUS OR DISMISS IT ANYWAYS
WE HAVE.
.
THREE ITEMS.
WITHIN A NEW FORM.
YEAH WE'RE GONNA CALL THE ROLL
FIRST.
TING.
PRESENT ARAMBULA BLOOM PRO
COOPER.
MCCARTY.
OBERNOLTE HERE PATTERSON WEBER.
THANK YOU.
WE'RE GONNA GO DIRECTLY IN HERE
ARE BILLS WE HAVE AB TWENTY ONE
NINETY NINE BIAS IN THE MEMBER
WITH.
THANK YOU MISTER CHAIR PLEASED
TO GET.
AB TWENTY ONE NINETY NINE WOULD
REQUIRE THAT THE DEPARTMENT OF
FINANCE NOTIFIED THE AUTHOR OF
ENACTED LEGISLATION IT'S THE
DEPARTMENT SUBMITS DRAFT BUDGET
TRAILER. BILL LANGUAGE THAT
WOULD SEEK TO DELAY THE
EFFECTIVE DATE OR MODIFY THE
IMPLEMENTATION OF RECENTLY.
ENACTED LEGISLATION.
DURING THE CONSIDERATION OF THE
TWENTY SIXTEEN SEVENTEEN BUDGET
A HANDFUL OF TRAILER BILL
LANGUAGE SUBMISSIONS WERE
IDENTIFIED AS SEEKING TO UNDO
LEGISLATION THAT HAD BEEN SIGNED
BY THE GOVERNOR JUST THE
PREVIOUS YEAR. AB THIRTEEN FORTY
EIGHT WHICH WAS MY BILL AB
NINETEEN NINETY THREE WHICH WAS
MY BILL AB TWENTY TWO SIXTY
THREE A BAKER BILL S. B. FIVE TO
FOR A LARA BILL. ALL HAD TRAILER
BILL BILLS THAT ADDED LANGUAGE
TO INDEFINITELY DELAY
IMPLEMENTATION.
THIS IS A FUNDAMENTAL SEPARATION
OF POWERS ISSUE WE SHOULD AT A
MINIMUM. RECEIVE NOTICE OF THE
DEPARTMENT OF FINANCE TRIES TO
BUREAUCRATICALLY VETO A BILL
THAT THE GOVERNOR HAS SIGNED
INTO LAW. A WILL BE AMENDING THE
BILL BEFORE IT GOES TO THE FULL
BUDGET COMMITTEE TO SPECIFY THAT
THIS APPLIES TO MEMBERS POLICY
BILLS AND NOT BUDGET BILLS. I
RESPECTFULLY ASK YOUR AGO.
THANK YOU.
.
MISS COSTA.
THOMAS PERMANENT FINANCE BUT.
GOOD MORNING ANY COST DEPARTMENT
OF FINANCE I WOULD NOT THAT THE
BILL WILL HAVE SOME GENERAL FUND
COST OF TO THE DEPARTMENT OF
FINANCE TO IMPLEMENT AND WE ARE
OPPOSED TO THE BILL IN PRINTS.
WHILE WE APPRECIATE THE INTENT
FOR ADDED TRANSPARENCY IN THE
BUDGET PROCESS AND WE HAVE
ACTUALLY WORKED WITH THE
SUBCOMMITTEE AYE AND THE PAST
FOR OUT OF TRANSPARENCY
INCLUDING.
.
I INCLUDING OUR BUDGET CHANGE
PROPOSALS ON OUR WEBSITE SO THAT
THEY'RE AVAILABLE FOR REVIEW WE
KNOW THAT THE BILL IN FRANCE.
KNOW THAT WE DID A ROUGH
ESTIMATE OF THE CURRENT YEAR
BUDGET THERE WERE A TOTAL OF
ABOUT ELEVEN HUNDRED SECTIONS OF
LAW THAT WERE AMENDED IN THE
CURRENT YEAR BUDGET ACT.
WHICH WOULD CREATE.
QUITE A DEAL OF AYE
NOTIFICATION FOR THE DEPARTMENT
OF FINANCE WE CONCUR WITH THE
STAFF'S SUGGESTION I'M ENSCONCED
THING THAT'S RESPONSIBILITY BUT
THE LEGISLATURE ITSELF.
THANK YOU ANY QUESTIONS FROM
THE.
MEMBERS.
WHAT ONE QUICK QUESTION FOR ME
MISS COSTA SO ON THAT THE I
THINK THAT KEY ISSUE THAT?
ASSEMBLY MEMBER IRWIN WAS
TRYING TO REYES WAS.
IN. PREVIOUS BUDGET PROPOSALS
WE HAD.
.
IT SEEMS SOMEWHAT ADHOC.
PIECE OF LEGISLATION WHICH WERE
SIGNED BUT THEN NOT FUNDED AND
THERE DIDN'T SEEM TO BE.
SORT OF ANY.
.
SORT OF SPECIFIC REASON IT JUST
SORT OF HAPPENED.
HERE AND THERE I THINK.
MISTER ONE REFERENCE WHEN HER
BILLS SO ON DO YOU DO YOU FEEL
THAT WITH THE STAFF
RECOMMENDATION THAT WE COULD
STILL GET AT THAT ISSUE WITHOUT
OVER BURDENING FINANCE.
I'M I DO I THINK YOU KNOW I
WOULD KNOW EVERY YEAR THERE'S A
STATUTORY REQUIREMENT FOR US TO
PUBLISH OUR TRAILER BILLS BY
FEBRUARY FIRST WHICH WE DO ON
OUR WEBSITE ADDITIONALLY WE AND
HAVE A SPREADSHEET THAT NOTES.
WITH EACH TRAILER BILL THE
AFFECTED CODE SECTIONS THAT WE
SEEK TO AMEND. LOT AND SO I
THINK TO GET MORE SPECIFIC.
IF THAT WAS VESTED WITH IN THE
LEGISLATURE THAT PARTICULAR
AUTHORS WOULD HAVE AT BE
NOTIFIED A AND A MORE DIRECT
WAY.
OKAY THANK YOU AYE IN THE ARROW
ANYBODY IN SUPPORT OF.
THE MEASURE.
ANY OPPOSITION.
HOUSE ARE WELL LET'S GO BACK TO
GET ME WERE QUESTIONED IT
BECAUSE IF THE AUTHOR WANTED TO.
A COMMENT ABOUT THE SUGGESTION I
KNOW YOU YOU YOU'RE ASKING THE
PROMINENT PLANS TO DO THIS BUT.
LEGISLATIVE STAFF FOR THE LA
ELLARD SOME ENTITY TO DO IT.
.
RIGHT AFTER THE BUDGET COMES OUT
AND AYE I REMEMBER CAN YOU BUY
THIS ISSUE UP FOR GOT THE ISSUE
I THINK IS AN EDUCATION RELATED
THING THAT WE TALKED ABOUT IT'S
UP TO TWO YEARS AGO.
WE FOUND OUT MONTHS LATER AND SO
WITH EITHER OF THOSE TWO. US
SUGGESTIONS A. YOU KNOW WORK FOR
YOU I'M.
I I REALLY THINK THAT IT SHOULD
BE THE DEPARTMENT OF I MEAN
OBVIOUSLY THE DEPARTMENT OF
FINANCE IS MAKING A THESE
DECISIONS WE HAVE TO DO. A LOT
OF RESEARCH TO FIND OUT.
WHICH OF BILLS HAD BEEN VETOED
AND AND AS FAR AS COSTS IF IT'S
JUST THESE FOUR BILLS THE COST
SHOULD BE REALLY MINIMAL IT'S A.
SENDING AN EMAIL TO THE AUTHOR.
AND I PRESUME THERE IS.
THERE ARE NOT MORE BILLS THAT
ARE.
VETO THIS WAY AND AGAIN I THINK
THIS IS JUST FUNDAMENTAL
SEPARATION OF POWER. THESE BILLS
WERE SIGNED BY THE GOVERNOR. AND
I HAD NO IDEA THAT TWO OF MY
BILLS WERE NOT IMPLEMENTED.
ALL THE.
THANK YOU ANY OTHER.
BUT WEBER JUSTIN A QUICK.
COMMENTS IN A AND I UNDERSTAND
THAT THE CHALLENGE HOW THAT'S
HERE. BUT YOU KNOW WE HAVE TO
KEEP IN MIND THAT. THE BUDGET IS
ACTUALLY CREATED BY THE MEMBERS
NOT THE GOVERNOR'S OFFICE NOR
THE DEPARTMENT OF FINANCE.
AND SO IF THIS IS A PROBLEM IT
COULD ACTUALLY I MEAN WE COULD
TALK TO THE GOVERNOR AND
DEPARTMENT FINANCE ABOUT SOLVING
THIS PROBLEM BUT IT REALLY IS
OUR PROBLEM. BECAUSE WE HAVE THE
CAPACITY TO PUT THESE THINGS IN
THE BUDGET.
WE ARE THE PEOPLE WHO CREATE THE
BUDGET AND I SOMETIMES GET
CONCERNED THAT WE. HAVE TO THROW
EVERYTHING A RELY HEAVILY UPON
THE GOVERNOR TO GIVE US WHAT TO
DO HIS BUDGET IS THE SUGGESTION.
OURS IS ACTUALLY THE BUDGET.
I THINK I THINK I THINK YOU FOR
THAT REMINDER DOCTOR WEBER I
THINK.
IN THIS PARTICULAR EXAMPLE.
MISS IRWIN WAS CONCERNED LAST
YEAR BY THE EMISSIONS I THINK
WE'RE TRYING TO.
IF HER STAFF HADN'T NOTICED DE
OMISSION THEN PERHAPS IT WOULD
HAVE GONE UNRECOGNIZED I THINK
WE WERE JUST TRYING TO. AYE
INSURER THAT WE DIDN'T ALL HAVE
TO COMB THROUGH EVERY LINE ITEM
IN THE BUDGET TO MAKE SURE THE
BILLS THAT WERE SIGNED AND
COMMITTED TO. WERE ACTUALLY HOW
FUNDED SO THAT I THINK THAT WAS
THE ONLY THOUGHT THAT WAS IT GUY
ISSUE DISPELS TRY TO RECTIFY.
BUT YOU'RE OBSOLETE ONE
THOUSAND.
PERCENT CORRECT THAT IT IS OUR
OUR BUDGET IN THAT WERE IN
CHARGE OF APPROPRIATING.
ANY OTHER QUESTIONS
COMMENTS.
ANYBODY IN OPPOSITION.
TO THE BILL.
SO.
.
THIS BILL GOES TO OUR SUSPENSE
FILE HOW WE WILL BE.
DISPENSING WITH THAT FILE AND
OUR NEXT FULL COMMITTEE HEARING
WHICH I BELIEVE IS TENTATIVELY
FOR MAY FOURTEENTH.
THANK YOU THANK YOU.
OKAY SO WE'RE WAITING FOR MISS
TO DALY AND MR MATHIS.
ARE YOU PRETTY FOR JOBS.
AND THEN THIS IS MISTER GRAY
PRESENTED MISTER DALY WAS MISTER
IN THE COMING.
KAMALA BECOMING.
OKAY.
I DO OR DO YOU WANT TO WAIT FOR.
DO YOU WANT TO WAIT FOR HIM OR
DO YOU WANT TO. GO.
YEAH.
OKAY
MR DOT
.
BUT THE PROBLEM
.
THANK YOU MISTER ABOUT HE'S HERE
TO PRESENT A CA ARE TWENTY ONE
ON BEHALF MISTRESS
STRUGGLED THANK YOU MISTER
CHAIRMAN I AM PROUD TO BE JOINT
AUTHOR OF A CA TWENTY ONE.
COLLEAGUES CALIFORNIA HAS A RICH
HISTORY OF INVESTMENT IT
INFRASTRUCTURE IN THE PERIOD
BETWEEN NINETEEN FORTY FIVE
NINETEEN SIXTY FIVE.
WE MADE SOME AMAZING INVESTMENTS
YEAH THE INFRASTRUCTURE THAT WE
STILL BENEFIT FROM TODAY. WE
BUILT THE STATE WATER PROJECT IN
THAT ERA WE BELTS.
OUR TWENTY SIX NEW COMMUNITY
COLLEGE CAMPUSES WE BUILT FIVE
NEW STATE COLLEGE CAMPUSES WE
BUILT TWO NEW UNIVERSITY OF
CALIFORNIA CAMPUSES.
WE BUILT OVER THIRTEEN THOUSAND
MILES OF STATE HIGHWAY.
UNFORTUNATELY IN RECENT YEARS WE
HAVE GOTTEN AWAY FROM THAT RICH
TRADITION.
BOB BACK IN NINETEEN SIXTY FIVE
WE INVESTED TWENTY ONE PERCENT
OF STATE REVENUE. IN THE
CONSTRUCTION OF NEW
INFRASTRUCTURE IN THE LAST
TWENTY FIVE YEARS IT'S ONLY BEEN
BETWEEN ONE AND THREE PERCENT.
SO THIS BILL IS AN ATTEMPT TO
CHANGE THAT THEY SEE TWENTY ONE
WOULD CREATE A NEW AMENDMENT TO
THE STATE CONSTITUTION. THAT
WOULD REQUIRE THE ALLOCATION OF
A MINIMUM OF TWO PERCENT OF
STATE REVENUE. TO THE BUILDING
OF NEW INFRASTRUCTURE THAT WOULD
BE DIVIDED UP. INTO SEVERAL
DIFFERENT CATEGORIES TWENTY FIVE
PERCENT WOULD BE SET ASIDE FOR
MAINTENANCE AND REHABILITATION.
TWENTY FIVE PERCENT WOULD BE SET
ASIDE FOR EXPANSION OF THE STATE
ROADWAYS. AND FIFTY PERCENT
WOULD BE SET ASIDE FOR A.
ALLOCATION TO INNOVATIVE NEW
INFRASTRUCTURE PROJECTS LIKE THE
KIND OF INFRASTRUCTURE THAT WE
BUILT BACK IN THE NINETEEN
FORTIES AND NINETEEN FIFTIES.
THESE ARE THE THINGS THAT WOULD
DRIVE CALIFORNIA FORWARD INTO
THE TWENTY FIRST CENTURY OF TALK
ABOUT THINGS LIKE A INNOVATIVE.
WATER STORAGE OF TALKING ABOUT
A WATER DELIVERY SYSTEM
TECHNOLOGY THINGS LIKE A
ROADWAYS THAT AUTOMATICALLY
CHARGE ELECTRIC VEHICLES AS THEY
WERE DRIVING THESE ARE THE KINDS
OF INFRASTRUCTURE PROJECTS THAT
WOULD MAKE CALIFORNIA A LEAD THE
NATION AGAIN. IN INFRASTRUCTURE
INSTEAD OF TRAILING THE NOTION
AS WE ARE NOW.
IF YOU LOOK AT WHAT.
I OUR FAILURE TO INVEST IN
INFRASTRUCTURE HAS DONE. BY IT
IS STARKLY APPARENT WE HAD A
RESEARCH FIRM LAST YEAR RANK US
AS THE WORST TRAFFIC IN THE
COUNTRY CERTAINLY WHERE LAWYERS
Y. LOS TEN PERCENT IN TERMS OF
OUR PAVEMENT INFRASTRUCTURE.
THESE ARE INVESTMENTS THAT ARE
BADLY NEEDED AND WE CAN DO IT IN
SUCH WAY THAT PAVES THE WAY FOR
SUCCESS FOR THE STATEMENT TWENTY
FIRST CENTURY.
THANK YOU MISS COSTA.
A BECAUSE TO DEPARTMENT OF
FINANCE WE HAVE NO FILE ON THIS
ITEM.
THANK YOU COMING BACK TO THE
MEMBERS ANY QUESTIONS FROM THE.
DYESS.
QUESTIONS COMMENTS.
OUT MY MILEY ARE. CALM THAT WAS
VERY VERY MUCH APPRECIATE THAT
YOU MISTER MAYES BRING THIS WHAT
I THINK IS IMPORTANT. TO HAVE A
ROBUST DISCUSSION ON HOW MUCH WE
ARE INVESTING IN INFRASTRUCTURE
AND YOU ARE CORRECT THAT WE ARE.
ON.
OR BEHIND FROM WHERE WE USED TO
BE AND I THINK IT IS A VERY MUCH
OF THE DISCUSSION TO HAVE ON
FIGURING OUT HOW HOW MUCH OF
THAT THE BUDGET SHOULD BE SPENT
ON INFRASTRUCTURE. OUT WITH THAT
ANY.
ANY PEOPLE IN SUPPORT OF THE
MEASURE.
GOOD MORNING MISTER CHAIRMAN BOB
READ WITH READ GOVERNMENT
RELATIONS ON BEHALF OF THE
CALIFORNIA'S CENTRAL VALLEY
FLOOD CONTROL ASSOCIATION
SUPPORT.
IT'S DIFFICULT TO ENGAGE IN
LONG.
LONG RANGE PLANNING FOR CAPITAL
PROJECTS WITHOUT A STABLE AND
PREDICTABLE.
SOURCE OF REVENUES IN THE
GENERAL FUND DOES PROVIDE THAT.
A I ALSO POINT OUT TO THE
MEMBERS OF THAT WHEN WE RELY ON
ISSUE IN GENERAL OBLIGATION
BONDS KIND OF A FEAST OR FAMINE
TYPE OF APPROACH.
BUT IT ENDS UP HAVING TWICE THE
IMPACT ON THE GENERAL FUND
COMPARED TO PAY GO BECAUSE THAT.
THE INTEREST PAYMENTS ON IT SO.
WE THINK IT MAKES MORE SENSE FOR
THE STATE TO GET ON A STEADY
DIET OF GENERAL FUND
APPROPRIATIONS FOR
INFRASTRUCTURE REQUEST A. GROUP
PAYROLL CONSIDERATION THANK YOU.
MISTER CHAIR MEMBERS IVAN ALL
TOMORROW HERE ON BEHALF OF
GLOBAL AUTOMAKERS THANK YOU FOR
THE OPPORTUNITY.
TO COMMENT ON THIS.
AC TWENTY ONE THANK YOU MISTER
OBERNOLTE AND MISTER MAYES.
I'D LIKE TO PROVIDE SOME
COMMENTS REGARDING THE
TRANSPORTATION PORTION OF OF OF
THE BILL.
WE ARE WITNESSING THE
TRANSFORMATION OF TRANSPORTATION
BEFORE OUR VERY EYES.
HOW CONSUMERS GET GET PRODUCTS
FROM A POINT A TO POINT B. IS
CHANGING RAPIDLY BUT WE ARE
OBVIOUSLY STILL EXPERIENCING
SOME THE SAME OLD PROBLEMS THAT?
ASSEMBLY MEMBER OBERNOLTE
REFERRED TO REGARDING.
HOW BAD ARE TRAFFIC IS A
CONGESTION IS IN IN THE STATE OF
CALIFORNIA? AT THE SAME TIME THE
AUTOMOTIVE INDUSTRY IS EVOLVING
FROM HARDWARE TO A SOFTWARE
BASED BUSINESS MODEL. THIS MEANS
THAT THE FUTURE OF MOBILITY AND
THE NEEDS AND DEMANDS WILL
INCREASINGLY BE ELECTRIFIED
AUTOMATED AND CONNECTED.
TODAY THERE'S OVER FORTY
ELECTRIC VEHICLES THAT ARE
OFFERED IN CALIFORNIA. AYE AND
AUTOMAKERS ARE ANNOUNCING
SIGNIFICANTLY MORE PLANS TO
OFFER MORE ELECTRIC VEHICLES IN
THE COMING YEARS.
INFRASTRUCTURE HAS PROVEN TO BE
A MAJOR IMPORTANT FACTOR.
IN HELPING CONSUMERS ADOPT AND
HAVE CONFIDENCE IN THIS NEW TYPE
OF TECHNOLOGY.
WE WERE VERY PLEASED WITH THE
GOVERNOR'S EXECUTIVE ORDER.
BACK IN JANUARY WHERE HE GETS
COMMITTED TO INCREASING FUNDING
FOR BOTH ELECT CHARGING STATIONS
AND ADDITIONAL HYDROGEN FUELING
STATIONS. AND CANNOT STRESS
ENOUGH THE IMPORTANCE OF OF
GETTING THOSE THINGS BILL.
UP CALIFORNIA MUST RECOGNIZE IN
MOVING FORWARD IT'S
TRANSPORTATION THAT.
WE NEED A NETWORK THAT WILL
SERVE HIGHLY AUTOMATED SLIGHTLY
AUTOMATED IN ON AUTOMATED
VEHICLES AT THE SAME TIME. WORD
THAT'S IS WHAT WE'RE GOING TO
SEE FOR IN YEARS TO COME
CONNECTED WITH THE THROUGH
VEHICLE TO VEHICLE AND VEHICLE
TO INFRASTRUCTURE. IS GOING TO
BE THE FOUNDATION FOR IMPROVING
VEHICLE SAFETY AND TRAFFIC
CONGESTION.
IN THE NOT TOO DISTANT FUTURE
TRANSPORTATION WILL BE VASTLY
SAFER CLEANER AND QUICKER. BUT
THAT FUTURE PRESENTS US WITH A
NEW SET OF INFRASTRUCTURE
CHALLENGES ONLY SIX PERCENT OF
U. S. CITIES.
CURRENTLY HAVE A TRANSPORTATION
PLAN.
IN PLACE TO ADDRESS AUTOMATED
AND CONNECTED TO VEHICLE
TECHNOLOGY.
THERE WILL OF COURSE ALWAYS BE A
NEED FOR.
BRIDGES ROADS RAILWAYS
WATERWAYS AIRPORTS THAT A BIT
SKEWED BE BUILT CONCRETE STEEL
ASPHALT.
BUT THE SAME TIME SMART CITIES
NEED SMARTER NEED SMART
SOLUTIONS AND SO WHAT CAN
CALIFORNIA DO.
TO ENSURE THE HIGHEST MOST
FAVORABLE AUTOMATED VEHICLE
OPERABILITY CALIFORNIA MUST HAVE
THE ABILITY TO ACQUIRE ANALYZE
AND MAKE BEST USE OF INTELLIGENT
TRANSPORTATION SYSTEMS DATA TO
IMPROVE THE DESIGN. AND THE FLOW
OF TRAFFIC WITH TRANSPORTATION
NETWORKS FOR BOTH AUTOMATED AND
AUTONOMY VEHICLES.
AS THE STATE CONSIDERS ONGOING
AND FUTURE PUBLIC INVESTMENT WE
RECOMMEND THE PAUL THAT POLICY
MAKERS TAKE INTO ACCOUNT THE
FOLLOWING PRINCIPLES.
SUPPORT THE DEVELOPMENT AND
MAINTENANCE OF SMART
INFRASTRUCTURE AS WELL AS A
PROMOTION A FUEL EFFICIENT
VEHICLES.
ESTABLISH GRANT PROGRAMS TO
EXPAND SMART COMMUNITIES AND
CONNECTED QUARTER DEPLOYMENTS
INCREASE PUBLIC INVESTMENTS IN
ELECTRIC VEHICLE INCENTIVES AND
ELECTRIC CHARGING AND HYDROGEN.
REFUELING INFRASTRUCTURE
TREATING INTEGRATED
TRANSPORTATION NETWORK WHERE
URBAN MOBILITY FREEWAYS HIGHWAYS
COMMUTER RAILS TRAINS AND
AIRPORTS WORK SEAMLESSLY
TOGETHER. AT TO COMPLEMENT ONE
ANOTHER.
WE NEED TO SUPPORT DODD MORE
DEPLOYMENT OF VEHICLE TO VEHICLE
AND VEHICLE TO INFRASTRUCTURE
TECHNOLOGY AND HELP ENSURE THAT
THE FIVE POINT NINE GIGAHERTZ
SAFETY SPECTRUM. REMAINS
AVAILABLE FOR AVAILABLE FOR SUCH
PURPOSES.
WE NEED TO STREAMLINED THE
CONSTRUCTION BIDDING AND
PERMITTING PROCESS TO ENCOURAGE
DIGITAL INFRASTRUCTURE
INVESTMENT TO XLR EIGHT THE
DEPLOYMENT OF VEHICLE TO VEHICLE
VEHICLE IN INFRASTRUCTURE
DEVELOP AND IMPLEMENT
STANDARDIZATION A UNIFORMITY OF
TRAFFIC CONTROL DEVICES SUCH AS
LAME MARKING SIGNAGE SIGNALS
TRAFFIC BARRIERS MARKINGS AND
EMERGENCY PULL OFF. AREAS.
UNTIL RECENTLY AUTOMOBILES DID
NOT HAVE TO ENGAGE WITH THE
ROADWAYS IF YOU'RE PLEASE WRAP
UP I AM WRAPPING UP RIGHT NOW.
DRIVERS DID ALL THE WORK.
SO TODAY WE'RE INCREASINGLY.
WAR IN THE FUTURE IT TODAY AND
IN FUTURE CARS AND TRUCKS ARE
GONNA BE READING IN PERCEIVING
THE ROADWAYS AND SO WE NEED TO
KEEP THESE PRINCIPLES IN MIND.
AS WE'RE MOVING FORWARD WITH
TRANSPORTATION PROJECTS THANK
YOU FOR THE OPPORTUNITY THANK
YOU.
THANK YOU GOOD MORNING MISTER
CHAIR AND MEMBERS ISRAEL SOLACE
WITH A SEPARATE UTILITIES.
WE DO NOT HAVE A FORMAL
POSITION AT IT ON A CA WILL I
TWENTY ONE BUT WE DID ONE OFFER
SOME COMMENTS IN SUPPORT OF THE
LANGUAGE RELATED TO ELECTRICAL
GRID INFRASTRUCTURE. ON EVERY
YEAR AS YOU KNOW WE MAKE
HUNDREDS OF MILLIONS OF DOLLARS
IN INVESTMENTS IN OUR
INFRASTRUCTURE IN PARTICULAR THE
ELECTRICAL GRID. I'M AS WE FACE
THE NEW REALITY OF CLIMATE
CHANGE AND WILDFIRES WE'RE
LOOKING INCREASINGLY AT AT
TECHNOLOGY SUCH AS MICROGRAMS.
AS A MEASURE TO MITIGATE AND
ENSURE RELIABLE SERVICE TO OUR
CUSTOMERS AND A QUICK BY WAY OF
EXAMPLE WE'VE PARTNERED WITH THE
COMMUNITY WE WORK WITH THE
COMMUNITY OF PREGO SPRINGS IN
THE NORTHEAST PART OF ART OUR
SERVICE TERRITORY. WHICH IS A
REMOTE PART OF THE AREA THAT'S
HIGHLY DEPENDENT ON ONE SUB
TRANSMISSION LINE I'M AND SINCE
TWO THOUSAND TWELVE WE'VE
UTILIZED THAT MICHAEL GRIFFIN
LEASE FOUR TIMES TO. TO MAINTAIN
SERVICE TO OUR CUSTOMERS ON
UTILIZING SOLAR BATTERY AND
OTHER TECHNOLOGY SO VERY
SUPPORTIVE OF OF OF THE
ELECTRICAL GRID LANGUAGE AND
WANT TO CONTINUE TO WORK WITH
THE AUTHOR AND MEMBERS OF THE
LEGISLATURE THANK YOU.
THANK YOU ARE FROM THE REMAINING
IS BECAUSE IF YOU COULD PLEASE
KEEP YOUR COMMENTS BRIEF I'M
GIVING EVERYONE LATITUDE SINCE
ITS BUDGET COMMITTEE BUT.
CERTAINLY MR PARA MEMBERS
TRANSMIT ON BEHALF OF THE
CALIFORNIA MUNICIPAL UTILITIES
ASSOCIATION WERE SUPPORTIVE OF
THE BILL ON.
DISCUSSION ON HOW TO.
INVEST IN OUR INFRASTRUCTURE
PARTICULARLY GENERATING NEW
WATER SUPPLIES NEW ENERGY
SUPPLIES AND THEN TRANSMITTING.
THOSE SUPPLIES TO OUR CUSTOMERS
SO WE LOOK FORWARD OF THE
ONGOING DISCUSSION THANK YOU
THANK YOU.
MISTER CHAIRMAN MEMBERS OF THE
COMMITTEE VALERIE TRAIL OF LAJOS
PACIFIC GAS AND ELECTRIC COMPANY
AND WE TO DO NOT HAVE A FORMER
POSITION BUT ONE I THINK THE
COMMITTEE FOR THE DISCUSSION
TODAY THINK THE AUTHOR IN HIS
JOINT AUTHORS. FOR BRINGING THE
DISCUSSION FORWARD IN LIGHT OF
THE. CLIMATE DISCUSSION WE'RE
HAVING WE THINK THAT THIS IS A
HEALTHY CONVERSATION TO DISCUSS
OUR RESILIENCY PGD HAS INVESTED
OVER THE LAST.
OF FIVE YEARS FIFTEEN BILLION
DOLLARS TO HARDEN OUR ELECTRIC
INFRASTRUCTURE AND WOULD LIKE ON
TO WE THINK THIS IS A HEALTHY
DISCUSSION TO CONTINUE FORWARD
THINK YOU. THANK YOU BYE MISTER
CHAIR MEMBERS A ADAM SMITH'S OF
THE CALIFORNIA EDISON WHILE WE
ALSO DON'T HAVE A FORMAL
POSITION WE DO WANNA COMMEND THE
OFFICE FOR TAKING UP THE. THE
QUESTION OF HOW WE NEED TO
INVEST IN INFRASTRUCTURE TO RISE
TO A NUMBER OF CHALLENGES
CLIMATE CHANGE. INCREASING
ELECTRIFICATION OF
TRANSPORTATION.
INCREASING.
DEVELOPMENT IN OUR CITIES AND
SO.
WE THINK THE OTHERS AND WE
CONTINUE TO LOOK FOR WORKING
WITH THEM.
THANK YOU.
COURTESY IN A LINE'S VITAL BILL
MANUFACTURES AND HONOR THE
CHAIRS WHICH I WILL AS THE LINE
MY COMMENT.
I ALIGN. WITH THE COMMENTS THAT
TO.
A MISTER ALTAMURA REPS IN THE
GLOBAL LAWMAKERS MAKE BUT I'LL.
ADD TO THESE IT IF THE PROMISE
OF BOTH.
ELECTRIFICATION OF OUR
TRANSPORTATION AND AUTONOMOUS
VEHICLES ARE TO HAPPEN WE DO
NEED IN INFRASTRUCTURE A PORTION
OF THIS AND THE OTHER PART
ESPECIALLY WITH AUTONOMOUS
VEHICLES TECHNOLOGY. WE CAN'T
FORGET OUR LOCAL GOVERNMENT
PARTNERS THEY HAVE A HUGE ROLE
IN IN DEVELOPING THE
INFRASTRUCTURE IN MAKING
AUTONOMOUS VEHICLES WORK SAFELY
THANK YOU.
THANK YOU VERY MUCH ANY OTHER
CLUB MEMBERS AYE THE PUBLIC IN
SUPPORT.
SEEING THAT ANYONE OPPOSITION.
COMPORT.
OKAY COMING BACK TO THE DYESS
ANY.
COMMENTS OR QUESTIONS FROM THE
DICE.
OKAY AT THIS POINT IN THE OF
THE.
MEASURE GOES DISPENSED PILE
WILL BE DISPENSING THAT THAT ON
THE MAY FOURTEENTH HEARING
NOTHING TO SHARE IF I COULD JUST
HAVE A MINUTE TO CLOSE I
APOLOGIZE PLEASE CLOSE THANK
YOU.
YOU KNOW IF YOU ASK THE AVERAGE
CALIFORNIAN WHAT THEIR VIEW OF
THE PURPOSE OF GOVERNMENT IS
HIGH UP ON THE LIST WOULD BE.
THE PROVISION OF COMMON
INFRASTRUCTURE.
AND YET WE DON'T BUILD ANYMORE.
HERE IN STATE GOVERNMENT.
THE STATISTIC I WAS QUOTING
BEFORE NINETEEN SIXTY FIVE WE
INVESTED TWENTY ONE PERCENT OF
STATE REVENUES IN THE LAST
TWENTY FIVE YEARS THE AVERAGE
HAS BEEN BETWEEN ONE AND THREE
PERCENT AND YET. IN THAT PERIOD
OF TIME THE STATE'S POPULATION
HAS MORE THAN DOUBLED. OUR GROSS
STATE DOMESTIC PRODUCT HAS MORE
THAN TRIPLED.
WE ENJOYED THE BENEFITS OF THE
INFRASTRUCTURE THAT OUR PARENTS
INVESTED IN. BACK IN THAT TIME
PERIOD WHEN THE STATE WAS
SPENDING THAT MONEY AND OUR
CHILDREN WILL NOT BE ABLE TO TO
ENJOY THOSE BENEFITS UNLESS WE
ARE WILLING TO MAKE THAT SAME
INVESTMENTS SO. I WOULD
ENCOURAGE YOU TO TO SUPPORT THIS
BILL OR AT LEAST A SUPPORT
CONTINUING THEY CONVERSATION ON
THIS WHEN.
THE APPROPRIATE TIME COMES
BECAUSE I THINK IT'S AN
EXTREMELY IMPORTANT ISSUE.
THANK YOU.
THANK YOU MISTER.
I WITH THAT WE HAVE.
MISTER DALY AND A. B. SEVENTEEN
FORTY.
STURDILY I BELIEVE OTHER.
OTHER COLLEAGUES WHO ALSO WOULD
LIKE TO SPEAK.
THANK YOU MISTER CHAIR AND
MEMBERS YES SIR.
MISSOURI ONE AND MR GRAY OR. ARE
HERE IN SUPPORT OF THIS REQUEST.
OF THE MEASURE BEFORE YOU IS AB
SEVENTEEN FORTY.
SIX TO CREATE A NEW MORE
FLEXIBLE STATE SAVINGS ACCOUNT
TO WHETHER THE STATE'S BOOM AND
BUST REVENUE CYCLE AND INSULATE
CALIFORNIANS FROM THE CUTS MADE
DURING RECESSIONS.
THIS BILL WILL ESTABLISH THE
BUDGET DEFICIT SAVINGS ACCOUNT.
IN ACCOUNT THAT WOULD BE
COMPLEMENTARY TO THE STATE'S
EXISTING RAINY DAY FUND.
AS YOU ALL KNOW IN TWENTY
FOURTEEN VOTERS OVERWHELMINGLY
APPROVED PROP TWO. WHICH
STRENGTHEN THE STATE'S EXISTING
BUDGET STABILIZATION ACCOUNT. BY
INCREASING THE AMOUNT OF MONEY
THAT THE STATE CAN SAVE WHEN WE
ARE IN THE GREEN.
IN JANUARY THE GOVERNOR PROPOSED
FULLY FUNDING.
THE BUDGET STABILIZATION ACCOUNT
TO ITS CONSTITUTIONAL CAP OF
THIRTEEN POINT FIVE BILLION.
MY CO AUTHORS AND I APPRECIATE
THE GOVERNOR'S LAUDABLE GOAL TO
SAVE WHILE TIMES ARE GOOD.
HOWEVER AS THE LA O. RECENTLY
POINTED OUT FEELING THAT ACCOUNT
TO ITS CONSTITUTIONAL CAPACITY.
COUNTER INTUITIVELY MAKES
PREPARING FOR RECESSION MORE
DIFFICULT IN FUTURE YEARS.
CURRENT BUDGET SAVINGS ACCOUNT
EVEN FULLY FUNDED BY THE
GOVERNOR IS A LITTLE MORE THAN
HALF OF WHAT CALIFORNIA WOULD
NEED FOR A MILD RECESSION.
THE LA O. BELIEVES OF THE STATE
WILL ACTUALLY NEED TWENTY
BILLION DOLLARS IN SAVINGS TO
BATTLE A MILD RECESSION OR FORTY
BILLION IN SAVINGS TO BATTLE.
EVEN A MODERATE RECESSION.
THE BILL BEFORE YOU AS A LONG
TERM REFORM THAT WILL HELP
ENSURE THAT FUTURE GENTLY
GENERATIONS ARE NOT SADDLED WITH
OUR DEBT OR FORCED TO MAKE
SEVERE CUTS TO EDUCATION. AND
OTHER IMPORTANT PROGRAMS
WHEN TIMES ARE GOOD WE SAVE.
SO THAT WHEN TIMES ARE BAD WOMEN
FORCED TO CHOOSE BETWEEN A GOOD
EDUCATION FOR OUR CHILDREN AND
OFFERING HEALTH CARE SERVICES TO
OUR SENIORS.
I RESPECTFULLY ASK YOUR
CONSIDERATION COMING OFFICES.
SPENCE FOR THIS PROPOSAL.
THANK MISTER.
MR GRAMM A SORT PUMP MISS COST.
WHAT WHAT WE GOT MEMBERS FIRST
LITTLE BUTTONS COST THAT OCCUR?
THEY YOU ARE MATURE MEMBERS JUST
BY A PROPOSAL. WHICH I AM A
JOINT AUTHOR OF.
IS A MAJOR PRIORITY FOR THE
CALIFORNIA DEMOCRAT CAUCUS.
THE CONCEPT BUILDS ON.
SUGGESTIONS PUT FORTH BY
LEGISLATE MASS OFFICE AND THE
SPIRIT OF IT FRANKLY IS TO
CREATE ADDITIONAL FLEXIBILITY.
UP CALIFORNIA SUFFERED FOR FAR
TOO LONG BOOM AND BUST CYCLES.
IN MANY CASES OUR HANDS ARE
TIED BY.
THE CURRENT SAVINGS ACCOUNTS
THAT DO EXIST WITHIN THE STATE
BUDGET.
DO HAVE LIMITATIONS AND THIS
ALLOWS US TO. GET AROUND SOME OF
THOSE LIMITATIONS TO SAVE
ADDITIONAL FUNDS IF WE ARE TO
HEAR MILD RECESSION A FULLY
FUNDED. A RAINY DAY FUND WILL
NOT COVER THE COST OF EVEN A
MILD RECESSION WE ALL KNOW THAT.
OUT CERTAINLY THE MEMBERS THE
BUDGET COMMITTEE KNOW THAT I
IT'S CONSISTENT WITH.
AS I SAID THE SUGGESTION WAS
THAT MARRIAGE OFFICE
AND E APPRECIATE YOUR
CONSIDERATION BOTH THE PROPOSAL
BEFORE YOU AND ALSO A. INCLUSION
AYE IN THE BUDGET PROCESS MOVING
FORWARD THANK YOU MISTER CHAIR
MEMBERS.
THE KIT MISTER.
THIS IS JUST A FISCALLY PRUDENT
MOVING AS ESPECIALLY IMPORTANT
THIS YEAR WHEN THERE'S A SUCH AN
ACCESS IN THE BUDGET I THINK WE
NEED TO BE VERY WARY THAT WE
DON'T TAKE ON TOO MANY OF
ONGOING EXPENSES AND WE SHOULD
REALLY BE LOOKING AT.
OF THE ONE TIME EXPENSES OR
MAKING SURE THAT WE TAKE
ADVANTAGE OF THE SITUATION WE'RE
IN THIS YEAR. AND.
AND FUND THIS RESERVE ACCOUNT.
THANK YOU.
THIS COST.
IN ACOSTA DEPARTMENT OF FINANCE
WE ESTIMATE THAT.
THE PROVISIONS OF AB SEVENTEEN
FORTY LIKELY WOULD DECREASE
INFRASTRUCTURE PROGRAM SPENDING
ON ME AND. NOT ST HIGHWAY OUT
PROJECTS BY ABOUT THE BILLION
DOLLARS EACH YEAR STARTING IN
NINETEEN TWENTY BASED UPON OUR
PROJECTIONS IN THE GOVERNOR'S
BUDGET IN JANUARY. AND I THE
DEPARTMENT OF FINANCE OPPOSES
THIS BILL ALTHOUGH WE CERTAINLY
RECOGNIZE THE INTENT OF BUILDING
UP A MORE ROBUST RESERVE TO
WHETHER RECESSION. WE DOUBT THAT
IT APPEARS TO CIRCUMVENT THE
CONSTITUTIONAL PROVISIONS OF OUR
PROPOSITION TWO WHICH REQUIRE
ANY ADDITIONAL FUNDING BEYOND
THE BUDGET STABILIZATION ACCOUNT
GO TOWARDS INFRASTRUCTURE
INVESTMENT.
THANK YOU.
ANY COMMENTS FROM THE PLANTS.
MR PICKED COOPER RECKONED AT THE
AUTHOR ADDRESS THAT MR MCCARTY.
YEAH I I SEE IT COMPLETELY
DIFFERENTLY A HARM TO ME IT'S
BIZARRE TO HAVE A RESERVE FUND
THAT IS CAPPED.
WHY NOT HAVE MORE FLEXIBILITY
IN THE BUDGET PROCESS?
?
AND I THINK ARM.
SO THAT'S MY RESPONSE TO THAT IS
ARM.
THE CREATION THAT THAT THE MAYOR
CREATION OF AN ADDITIONAL
RESERVE ACCOUNT.
SHOULD NOT BE UNCONSTITUTIONAL.
AS LONG AS WE ARE FULFILLING
OUR CONSTITUTIONAL DUTIES TO
FILL THE SECOND RESERVE WHICH IS
THE RAINY DAY FUND THIS IS
EFFECTIVELY. THE REASON YOU NEED
A THIRD RESERVE ACCOUNT. IS.
THE EXACT.
FOR THAT REASON.
THE SECOND RESERVE ACCOUNT HAS
LIMIT HAS LIMITATIONS.
IT HAS LIMITATIONS WHY WOULD WE
WHY WOULD WE PUT OURSELVES IN A
POSITION OF HAVING A FALSE
CHOICE.
IF WE WANT TO PUT MORE MONEY IN
RESERVES WE SHOULD BE ABLE TO.
I DON'T THINK REVIEW BRING THIS
FORWARD OBVIOUSLY A BUDGETS THEY
THE COUNT AS IMPORTANT AS WE
KNOW FROM THE LAST DOWNTURN IN
THE ECONOMY. SOME STATE PROGRAMS
ARE NEVER FULLY RESTORED.
STILL SUFFER TODAY THAT'S WITH
THE BIG ISSUE.
YEAH IT'S NOT A MATTER OF IF
IT'S A MATTER OF WHEN. IF WE CAN
LESSEN THAT IMPACT. I THINK IT'S
CRITICAL THAT WE DO SOMETHING
HERE SITE A VERY SUPPORTIVE
BIGGEST THING ALSO CO AUTHOR
THANK YOU THANK YOU.
THANK YOU.
MISS MCCARTY.
YEAH MISTER ABOUT.
I WANTED TO APPLAUD THE
PRESENTATION I DO HAVE A
TECHNICAL QUESTION JUST TRYING
TO UNDERSTAND SEVENTEEN FORTY
AND IT BEING CHAPTER. AND THE
IMPLEMENTATION IS THE CAN YOU
HELP US TO EXPLAIN. HOW THAT
WOULD WORK AND? WHAT HOW THAT
WILL PROCEED?
GO AHEAD.
AS.
.
STATE REQUEST WHICH SURVEYS
NOTED NOW SAYS ON PAGE TWO.
.
YOU MAY NOT IN IN THE FINAL
PARAGRAPH THE AUTHORS OFFICE
STATES POPE IS THE NEW FUND
WOULD PART OF THE TWENTY
EIGHTEEN NINETEEN BUDGET PLAN.
SINCE THAT COULD NOT OCCUR
BEFORE THIS BILL IS CHAPTER THE
COMMITTEE MAY WISH REFER THIS TO
SUB FOR FOR CONSIDERATION THE
BUDGET PACKAGE I THINK IT'S
CONSISTENT WITH. THE JOINT
AUTHORS OF THE PROPOSAL.
WAS IMPORTANT TO HAVE THIS
DISCUSSION.
BEFORE YOUR COMMITTEE TODAY.
BUT AS FAR AS THE FINAL OUTCOME
I DON'T IF THE BILL WAS THE
FOCUS OF THE AFTERBURNER THE
ENTIRE BUDGET PROCESS.
I'M.
HEARING WHAT DEPARTMENT OF
FINANCE HAS STATED THOUGH I
THINK WE MAY WANT TO ENGAGE WITH
THEM TO FIGURE OUT IF THERE'S AN
APPROPRIATE MIDDLE GROUND
BECAUSE.
YOUR END GOAL IS LAUDABLE AND
SUPPORT.
BUT HOW WE.
MAKE SURE THAT THE DETAILS ARE
APPROPRIATE HIS IMPORTANT AS
WELL SO. I'M JUST ENCOURAGE US
TO CONTINUE TO TRY AND WORK
TOGETHER TO FIGURE OUT IF WE CAN
GET TO THE MIDDLE.
MR CHAIRMAN I HAVE A FOLLOW UP
COMMENT PLEASE OF THE I WOULD
JUST ADD TO THAT MISTER DALY'S
COMES I THINK FOR THE PART OF
FINANCE TO. SUGGEST THAT WE CAN
ONLY INVEST MENTOR STRUCTURE
MORE WE FULLY FUND THE RAINY DAY
FUND THIS WOULD SOMEHOW DETRACT
FROM MAKING INFRASTRUCTURE. AYE
IS IS ABSOLUTELY ARE A RED
HERRING IN A FALSE CHOICE.
WE AS A BODY CAN MAKE THE
DECISIONS TO USE WHATEVER FUNDS
WE INTEND TO SPEND ON
INFRASTRUCTURE. THE FACT THAT WE
HAVE.
RESTRICTIONS ON OUR SAVINGS
ACCOUNTS THAT DON'T MEET EVEN
THE MILD RECESSION PROJECTIONS
OF THE ALEJO SUGGEST THAT
SOMEBODY POORLY DRAFTED.
SOME OF THOSE.
PREVIOUS EFFORTS AND WE NEED TO
MAKE SOME ADJUSTMENTS THIS
ALLOWS US THAT FLEXIBILITY.
WHAT YOU MIGHT CALL AN END RUN
AROUND I WOULD CALL AN
IMPROVEMENT TO?
I PROPOSE A PREVIOUS PROPOSAL.
I AGREE COMPLETELY.
I THINK IT'S QUESTION TO BOTH.
MY COLLEAGUES AS WELL AS MISS
COSTA. ON AT DID YOU ALSO LOOK
AT POTENTIALLY JUST EXPANDING
THEIR OF THE REGULAR RESERVE
COUNT I KNOW THAT. ON THE RECORD
YOUR ACCOUNT HAS HAS SOME OF AN
ARTIFICIAL CAP THAT WHEN YOU HIT
THAT FOUR PERCENT THAT WE HAVE
TO GO LOWERED THE BAR. SALES TAX
ON DECIDING YOU IT WE HAVE A SET
OF NOT TO HIT THAT FOUR PERCENT.
BUT WAS NOT SOMETHING THAT DOWN.
MISS COSTA YOU WOULD FIND MORE
FAVORABLE OR MIGHT BE BACK TO MY
COLLEAGUES AT THAT WOULD BE.
BUT IN THAT WOULD SO THAT WAS
SORT OF EASIER TO DO.
I'M GONNA ATTEMPT NOT TO GET TOO
TECHNICAL WE START TALKING ABOUT
RESERVES AND THE IRONY IS NOT
LOST ON ME THAT WE'RE TALKING
ABOUT CREATING A THIRD RESERVE
FUND.
SAID THE FIRST RESERVE FUND
PROPS MOST FLEXIBLE OF THE LA AS
RECENT REPORT LAYS OUT IS THE
ASSET FEWER THE STATE FUND FOR
ECONOMIC UNCERTAINTY A LOT OF
PEOPLE CONSIDER THAT KIND OF THE
BALLOTS OF YOUR CHECKBOOK.
IT'S WHAT WE UTILIZE WHEN
THERE'S AN EMERGENCY AS THERE
WAS RECENTLY IN BOTH THAT YOU
KNOW THE NORTH PART OF THE STATE
AS WELL AS THE SOUTHERN PART OF
THE STATE WITH THE WILDFIRES.
BSA AS WAS ON TESTIFIED AND I
WERE PROPOSING I'M ACTUALLY
GOING BEYOND WHAT'S REQUIRED AND
DEPOSITED THE PSA IN THE
GOVERNOR'S.
PROPOSED BUDGET TO BRING IT UP
TO THE CONSTITUTIONAL TARGET OF
TEN PERCENT.
THATTEN PERCENT NUMBER IS A
ROLLING NUMBER THAT'S
RECALCULATED AT EVERY YEAR THAT
WE I'M I JUST THE BUDGET
REVENUES TO MAKE SURE WE'RE
HITTING THE TEN PERCENT BECAUSE
REVENUES OBVIOUSLY ARE NOT
STATIC.
THAT SAID I THINK THE TWO
QUESTIONS THAT.
SEEM TO BE COMING BEFORE THE
COMMITTEE ARE TWO FOLD IF THERE
IS A RECESSION.
WHAT IS THE APPROPRIATE DOLLAR
AMOUNT TO HAVE ON HAND?
AS HAS BEEN TESTIFIED ON ELLIOT
HAS SEVERAL DIFFERENT RECESSION
SCENARIOS WE DO AS WELL.
I WOULD NOTE THAT IN A RECESSION
SCENARIO IS LIKELY GOING TO
HAPPEN OVER MULTIPLE BUDGET
CYCLES SO EVEN IF YOU WERE TO
BUILD UP A HEALTHY RESERVE OF
FORTY BILLION DOLLARS. IT BUYS
YOU TIME.
IT'S VERY LIKELY THAT A
RECESSION OF THAT SCALE AND
SCOPE WOULD CONTINUE INTO THE
NEXT BUDGET YEAR ON AND THAT WAS
REALLY ONE OF THE UNDERPINNINGS
OF PROPOSITION TWO. WAS TO
PROVIDE A LITTLE BIT OF TIME A
LITTLE BIT OF AN ABILITY TO FUND
THINGS. ON WHAT THE STRUCTURAL
ISSUES WERE DEALT WITH
PREVIOUSLY WE DIDN'T HAVE THAT
FLEXIBILITY.
ON TO YOUR POINT.
THERE ARE TWO.
GOVERNMENT CODE SECTIONS THAT
LIMIT THE TOTAL AMOUNT IN THAT
AS AT THE YEAR BEFORE YOU
TRIGGER A SALES TAX.
OUGHT REDUCTION A ONE OF THOSE
CALCULATIONS I IS AT THE
DISCRETION OF THAT A DIRECTOR OF
FINANCE SO IN ESSENCE.
BOTH OF THE EXISTING RESERVES DO
YOU HAVE.
CAP OF SOME SORT.
THANK YOU. MISTER.
I THINK THE LA OWES DONE
EXCELLENT WORK ON THIS SUBJECT
AND.
THIS IDEA WE.
WHEN WE WHEN IT DAWNED ON US
THAT THERE ARE CAPS ON THE
EXISTING RESERVE ACCOUNTS.
WE STARTED TO TALK ABOUT THE
PROPOSAL MEANWHILE THE LA.
INDEPENDENTLY REACHED A SIMILAR
CONCLUSION SO I THERE'S SOME
DISAGREEMENT BETWEEN FINANCE IN
THE LA SHOW. IN THIS SUBJECT
BEARS MORE DISCUSSION
MY LOVE GOAL AND I THINK MY
COLLEAGUE SHOULD WE JUST WANT TO
HAVE.
BOB ALL THE CHOICES ON THE TABLE
WE DON'T WANT FALSE CHOICES.
THANK YOU.
I DON'T WANT.
YEAH I APPRECIATE THAT THE
CONVERSATION AND OBVIOUSLY WE
NEED MUCH MORE DISCUSSION ABOUT.
OF VARIOUS RESERVE ACCOUNTS AND
WHETHER AND HOW HOW MUCH DO WE
ACTUALLY NEED AND. A BECAUSE I
CAN SEE US GETTING THIS WITH AND
THEN SOMEBODY COME ALONG AND SAY
WE NEED ANOTHER ONE AND WE NEED
ANOTHER ONE.
ANOTHER ONE
AND WHAT GENERALLY HAPPENS IN
THE MIDST OF ALL OF THE ACT.
IN THAT CONVERSATION WE FAIL TO
ALSO LOOK AT THE FACT THAT.
IN THE PROCESS OF DOING THIS AS
YOU POINTED OUT WE STILL HAVE
NOT FUNDED A AWFUL LOT OF THINGS
THAT WE'RE SUPPOSED TO FIND.
AND SO WE WE KEEP SAVING AND
SAVING AND SAVING AND WE NEVER
TAKE DEAL WITH THE FOLKS WHO
STRUGGLING A LITTLE SECURITY
WILL GET WHO CAN'T LIVE EVERY.
DAY BECAUSE I GETTING SEVEN
HUNDRED DOLLARS A MONTH IN RENT
IS HIDE THEY CAN'T YOU KNOW WE
GOT HEALTHCARE ISSUE SO WE GOT A
LOT OF ISSUES. WERE BEING ASKED
TO DELIVER INFRASTRUCTURE AND
UPDATED THAT SOUNDS REALLY
EXCITING BUT IF WE KEEP. A
SAVING AND SAVING INSIDE THE AND
I'M NOT OPPOSE THE SAME BUT
SOMETIMES I HAVE FRIENDS WHO SAY
EVEN THOUGH LEAH. AND ALL AND
THEY HAVE HUGE SAVINGS ACCOUNT
WHEN THEY DIED OH FOR SOMEBODY
ELSE TO ENJOY SO I THINK AT SOME
POINT WE HAVE TO FIND WHAT IS
REASONABLE AS A AS A AS A HOUSE
TO. IN TERMS OF A SAVINGS MOST
FOLKS LOOK AT TEN TWENTY TEN
FIFTEEN PERCENT OF WHATEVER BUT
I DON'T WANT US TO GET SO CAUGHT
UP IN THIS ALL THE TIME IT AND
ALL CONVERSATIONS. THAT WE'D
LOSE SIGHT OF THE FACT THAT
THERE'S STILL AN AWFUL LOT OF
THINGS THAT ARE NOT FUNDED.
YOU KNOW WE'RE EMBARRASSED THAT
OUR SCHOOLS AT FORTY SOME
PERCENT. YOU KNOW.
IN CALIFORNIA WE DON'T FUND OUR
UNIVERSITIES ARE SEE ISSUES I
UC'S OF YOU KNOW WE DON'T FIND
THEM AT THE LEVEL THAT WE THINK
THEY SHOULD BE FUNDED. AND SO
WE'RE NOT INVESTING IN MOST
THINGS AND WHAT INVESTING HONEST
IT WE WANTED IN THIS
CONVERSATION IS COST INVEST IN
SAVINGS WERE. IF WE INVESTED IN
PEOPLE OF THE REVENUE WOULD COME
AND THEREFORE YOU'D END UP WITH
THE MUCH MORE A DIFFERENT KIND
OF ROBUST CONVERSATION WE ALSO
HAVE NEVER DEALT WITH THE ISSUE
OF TAXES IN THE STATE AND WHAT
PROP THIRTEEN DID TO US. AND
CREATED THIS INSTABILITY NOBODY
WANTS TO DEAL WITH THAT SO WE
THINK WE CAN SAVE OUR WAY OUT OF
IT WITHOUT ACTUALLY LOOKING AT
WHAT IS HAPPENING IN TERMS OF
OUR TAX BASE. SO I MEAN THERE A
LOT OF HARD ISSUES THAT OTHER
STATES HAVE HAD TO DEAL WITH THE
WE HAVE TO DEAL WITH. SAVINGS.
IS FINE BUT IT'S NOT GOING TO
GET US TO WHERE WE WANT TO GO
AND THEN IT WAS SAVING THINKING
THIS GOING TO BE RECESSION IS
GOING TO BE RECESSION IN. AND
OUT AND THAT'S IMPORTANT WE HAVE
SOMETHING THAT WILL WISE ABOUT
THAT BUT I DON'T.
I I FIND IT DIFFICULT TO THE
CONSULATE AND THE SAVINGS
ACCOUNTS WHEN I KNOW THAT THERE
ARE SO MANY ISSUES ON ALL OF OUR
BUDGETS THAT WE HAVE NOT FUNDED.
AND AND HAVE DON'T HAVE A PLAN
TO EVEN THINK ABOUT FUNDING AND
A AND SO WE HEAR ABOUT THAT THE
POVERTY RATE THE CHILD CARE THE
PRESCHOOLS. FOR ALL THE HEALTH
CARE FOR EVERYBODY YOU KNOW
WE'VE OF THOSE THINGS ARE OUT
THERE AND UP. AND UP AND.
THIS I DON'T KNOW IF THIS HELPS
US I DON'T THINK IT DOES BUT A I
THINK IT'S SOMETHING WE NEED TO
HAVE A CONVERSATION WHAT IS
REASONABLE TO DEAL WITH SAVINGS.
BUT I GET SO CAUGHT UP IN IT
THAT WE IN THE SAVING OUR WAY IN
SUCH A MANNER THAT WE FAIL TO
RESPOND TO THE ISSUES WE HAVE TO
FILL DEAL WITH EVERYDAY.
THE CONDUCTOR OF THE SCRIPT IN
SHERMAN I IF I COULD JUST
RESPOND.
TWO DUTCH WORDS COMMENTS AND
FRANKLY I AGREE WITH MUCH OF
WHAT. SHE HAD TO SAY THEIR.
MOST NOTABLY A TOWARDS THE END
OF HER A QUESTION THIS
DISCUSSION OF TAX REFORM.
RIGHT BECAUSE AT THE CORE OF
WHAT WE'RE TALKING ABOUT HERE IS
THIS STATE HAS NOT DONE ANY
SIGNIFICANT TAX REFORM. A IN A
VERY LONG TIME WE CONTINUE TO
HAVE BOOM AND BUST BUDGETS
BECAUSE WE DO NOT HAVE A STABLE
REVENUE SOURCE OVER MULTIPLE
BUDGET YEARS. AND I AND I WOULD
JOIN.
MISS WEBER IN AND SUGGESTING WE
SHOULD ENGAGE IN THAT BEHAVIOR
UP UNTIL THAT TIME IN WHICH WE
GET SOME TAX REFORM FOR MORE
STABLE REVENUES IT IS
IRRATIONAL.
IMMATURE AND IRRESPONSIBLE NOT
TO HAVE SAVINGS ACCOUNTS
FLEXIBILITY BECAUSE WE CAN A.
BAD FOR INCREASED THOSE VERY
PROGRAMS THAT MISS WEBER JUST
OUTLINED JUST TO CUT THEM TO A
THREE YEARS DOWN THE LINE.
THAT'S NOT GOOD PRACTICE IT'S
NOT GOOD PUBLIC POLICY AND SO I
WOULD GUESS I WOULD LOOK AT THE
PROPOSAL BEFORE YOU MEMBERS AS.
A MAXIMUM FLEXIBILITY FOR THIS
BODY FOR THE LEGISLATURE UP
UNTIL THE POINT ON THAT WE CAN
ACHIEVE SOME KIND OF TAX REFORM
TO CREATE A MORE STABLE. A
REVENUE SOURCE SOURCE OVER ABOUT
YEARS.
THANK YOU MISTER OBERNOLTE.
THANK YOU MISTER CHAIR SO I AM
GENERALLY VERY SUPPORTIVE OF THE
IDEA THAT WE SHOULD BE SETTING
ASIDE MORE OF OUR MONEY. WHEN
TIMES ARE ECONOMICALLY GOOD
RELATIVELY SPEAKING AND THAT
WILL ALLOW US.
TO SPEND MORE WHEN TIMES ARE
ECONOMICALLY BAD AND HELP OUT
THE PEOPLE THAT I HAVE GREATER
DEMAND FOR SOCIAL SERVICES WHEN.
WHEN ARE WE GET WE SLIP INTO
RECESSION SO VERY SUPPORTIVE OF
THAT HOWEVER I DON'T THINK IT'S
ACCURATE TO SAY THAT THE SFU.
HAS A CAP HAVE BEEN IT'S CLEAR
THAT THE BSA HAS A CAP THE SFE
YOU JUST HAS A LIMIT BEYOND
WHICH WERE WE TO CONTINUE TO
CONTRIBUTE MONEY TO IT. WE WOULD
BE OBLIGATED TO LOWER THE STATE
SALES TAX RATE SO I THINK THAT
ANY DISCUSSION ABOUT CREATING
THE THIRD RESERVE ACCOUNT.
PASSED TO INCLUDE A DISCUSSION
ABOUT WHETHER OR NOT IT IS
APPROPRIATE TO JUST CONTINUE
FUNDING THE SFE YOU. ARE AND
ACCEPT THE FACT THAT BECAUSE WE
HAVE A SUBSTANTIAL BUDGET
SURPLUS SO IT'S APPROPRIATE TO
LOWER THE SALES TAX RATE
CALIFORNIA.
THANK.
MISS MCCARTY.
YEAH I WANTED TO GO BACK TO THE.
WHETHER IT'S FLEXIBILITY OR ITS.
IT'S INSUFFICIENT THE NUMBER I
KNOW THAT THAT MISTER DALY UNITE
TALK LAST FEARS ABOUT A RESERVE
IN ONE THE FIRST QUESTIONS YOU
ASKED WE DO A PRESENTATION IN
OUR CAUCUSES.
WHERE WE AT WITH CLOSE TO THAT
THAT TEN PERCENT MARKER? AND
DOWN AND I THINK THE QUESTION IS
IS THERE AND NOT FLEXIBILITY NOT
BUT IS THAT INSUFFICIENT AND I
THINK YOUR ARGUMENT THAT YOU'RE
MAKING IS THE TO RESERVE
ACCOUNTS. COMBINED ARE
INSUFFICIENT AND.
AND I DO KNOW THAT THE THE BILL
WE HEARD BEFORE HERE IS
INVESTING MORE IN INFRASTRUCTURE
AND ALL THE LETTERS WE GET.
YOU ARE SUBCOMMITTEE ABOUT
MAKING THESE INVESTMENTS THERE
ARE TRADE OFFS AND SO BUT MY
MIND A RESERVE LESS MONEY FOR
ALL THE ISSUES THAT WE WANTED TO
FOCUS.
IS IS IS THAT IS THAT AS THE
OVER ARCHING PREMISE FLEXIBILITY
OR THAT. WE THINK THAT TEN
PERCENT IS INADEQUATE IT I WOULD
SAY IT'S BOTH.
.
I THINK.
CURRENT STRUCTURE.
I MEAN I LIKE THE RAINY DAY FUND
IT'S REAL POPULAR AROUND THE
STATE I THINK IT WAS A GREAT
IDEA.
IRONICALLY.
IT'S.
IT IS LIMITED.
SO THAT WHEN IT'S MAXED OUT.
YOU SPEND THE OVERAGE ON
INFRASTRUCTURE MEANWHILE IN
OTHER PARTS OF THE BUDGET WE
SPEND MONEY ON INFRASTRUCTURE I
ALSO LIKE INFRASTRUCTURE. AND I
LIKE TOFUND THE PROGRAMS THE
MISS WEBER MENTIONED IT JUST IT
CREATES A FALSE CHOICE FOR US IN
THE BUDGET PROCESS IN A YEAR
LIKE THIS WHEN WE HAVE.
SURPLUS REVENUES.
WHY SHOULD WE BE ABLE TO SPEND
THE SURPLUS?
AS WE WOULD LIKE WERE AS WE
WOULD SUGGEST.
WITHOUT A.
WHAT IS A FALSE CHOICE IN THE
STRUCTURAL IN THE STRUCTURE THAT
WE HAVE
BUT IT BUT IT DOES GET TO THE
ISSUE THAT?
SOME WOULD SAY THAT IF WE HAVE
INCREASE REVENUE. THAT MAYBE WE
SHOULDN'T.
A HIGHER MORE FACULTY AT SURE
HER CITY OR CSU YOU SHOULD DO
THINGS BY AT ONE TIME WHICH GOES
BACK TO THAT KIND ISSUE BEFORE.
BE VESTED IN AND HOUSING WATER
INFRASTRUCTURE YOUR
TRANSPORTATION WHAT HAVE YOU
ITSELF. NO THAT'S HELP THAT'S A
A ONE TIME NOT I'M GOING TO
ASSUME THAT SKYNET THAT.
THAT I PERSPECTIVE THAT
DEPARTMENT OF FINANCE LAYS OUT
THAT YOU'RE YOU'RE NOT THIS
SILLY BEING IRRESPONSIBLE AND
DOING ONGOING EXPENDITURES BUT
USING. THAT AS FOR FOR ONE TIME
INFRASTRUCTURE PURPOSE WE DON'T
HAVE. A LIMIT ON HOW MUCH WE CAN
SPEND ON SOCIAL SERVICES OR
EDUCATION OR INFRASTRUCTURE
THERE ARE NO LIMITS.
IN OUR BUDGET PROCESS THERE'S A
LIMIT ON HOW MUCH WE CAN PUT
INTO RESERVES TODAY UNLESS THE
LA WHAT'S WRONG.
THERE IS A LIMIT AND AND WHY
WOULD WE DO THAT TO OURSELVES.
I'M NOT SUGGESTING THE PUTTING
MONEY INTO RESERVES IS MORE
IMPORTANT THAN SPENDING ON
SOCIAL SERVICES OR EDUCATION OR
ANY OTHER PROGRAMS I'M NOT
SUGGESTING THAT. THIS IS MORE OF
A TECHNICAL PROPOSAL.
BY THE WAY THE PROPOSAL REALLY
BEFORE US IS NOT. IS JUST A.
CREATE THAT ACCOUNT.
THAT'S RIGHT
ARM AND THEN IT'S UP TO THE
LEGISLATURE TO DECIDE HOW TO
SPEND.
THE SURPLUS.
BUT TO ME IT'S BIZARRE WHEN
WE'RE TOLD RIGHT UP FRONT OH YOU
CAN'T YOU CAN'T PUT ANY MORE
MONEY IN RESERVES IS OFF THE
TABLE BECAUSE OFTHE STRUCTURE
OF OUR BUDGET PROCESS.
TO ME THAT'S A FALSE CHOICE
TO SHARE.
AND THEN ALSO DURING A RECESSION
WOULD PROGRAM FOR CUT. WHAT
PROGRAMS WERE CUT SOCIAL
PROGRAMS?
THAT'S STILL NOT RECOVERED WHO
GOT IT FIRST.
WHAT'S ALSO ON MY MIND EXCUSE ME
IS WHEN WE CAME IN.
OUR CLASS BECAME MEN AND.
DECEMBER OF TWENTY TWELVE.
OUR PREDECESSORS
HAD EXPERIENCED A BRUTAL.
SERIES OF BUDGET CUTS AND I TOLD
MYSELF I DON'T WANT TO EVER DO I
DON'T WANT TO GO THROUGH THAT
IT'S WRONG. TO OUR CONSTITUENTS
IT'S WRONG FOR THE LEGISLATURE
TO HAVE TO.
CUT PROGRAMS THAT ARE SO
IMPORTANT TO PEOPLE SO WE SHOULD
SAVE AS MUCH AS POSSIBLE.
ON MY LIKE THE RAINY DAY FUND I
JUST I I THINK WE NEED TO GO A
STEP BEYOND THAT SIMPLY TO GIVE
OURSELVES THE FLEXIBILITY.
YEAH BIGGEST MIGHT I ADD TO THAT
DOWN.
I CERTAINLY. AGREE WITH A SPEAR
MR MCCARTY COMMENTS IN THE SENSE
THAT ANY ADDITIONAL DOLLARS
ABOUT FOR. THOSE CAPS GET
INVESTED IN INFRASTRUCTURE UNDER
CURRENT LAW.
BOB I WOULD ECHO. MISSION
DAILIES COMMENTS AND ALL THIS
DOES IS PROVIDERS THAT
ADDITIONAL FLEXIBILITY BUT YOU
AND I BOTH KNOW. I AND I THINK
BOTH OF US HAD THE OPPORTUNITY
TO FOR HAVE A FRONT ROW SEAT.
TO THOSE DEEP CUTS
I AS WE WERE HERE AT THE
CAPITOL.
DURING THOSE YEARS THAT THOSE
CUTS WERE MADE.
NOT MARKER POSITIONS IS ELECTED
OFFICIALS BUT CERTAIN AS PART OF
THIS INSTITUTION.
AND THE REALITY IS THAT EACH AND
EVERY YEAR THE LEGISLATURE
THROUGH THE PROCESS OF
COMPROMISE DISCUSSION
NEGOTIATION AND THE BUDGET
CONTINUES TO SPEND ADDITIONAL
DOLLARS ON ONGOING PROGRAMS SO
IF THE REALITY WERE THIS YEAR WE
WERE GONNA MAKE ALL CHOICES FOR
THE ENTIRETY OF THE SURPLUS ONLY
TO GO. TO ONE TIME SPENDING
THEN.
PERHAPS THE CURRENT STRUCTURE
WOULD BE SUFFICIENT I BUT WE
BOTH KNOW THAT'S NOT REALITY AND
NOT WHAT'S GOING TO HAPPEN WITH
THE STATE BUDGET SO I THINK.
GIVING OURSELVES AT LEAST THE
CHOICE TO PUT ASIDE ISSUE
REVENUES TO PROTECT SOME THAT
ARE GOING SPENDING A AS WE MAKE
THOSE CHOICES.
AS A BODY.
SEEMS LIKE RATIONAL POLICY TO
GET STILL.
THERE'S NO MANDATE WITHIN THIS
PARTICULAR PROPOSAL TO PUT A
CERTAIN AMOUNT OF MONEY ASIDE
SHIP PERCENTAGE WOULD JUST
SIMPLY GIVE US THE FLEXIBILITY
IF WE. DEEM IT APPROPRIATE
RESPONSIBLE TO DO SO.
THANK YOU DOCTOR RENTAL.
THIS QUESTION IS FROM US COST
ACTING YOU EDUCATE THIS BODY ON
THE CAP OF THE BSA IF THERE WERE
ANY LGISLATIVE OR STATUTORY
AUTHORITY TO INCREASE THE CAP.
WHAT COULD WE FEASIBLY DO TO TRY
TO INCREASE THE RESERVES AS HAS
BEEN STATED HERE?
SURE AND I ALSO WANT TO KNOW A
DULY NOTED TO MISTER OBERNOLTE
ON.
ASSET FOR YOU NOT BEING A CAP
AT THE TRIGGER SAID JUST MEAN
THERE'S CHOICES TO BE MADE BASED
ON THE LEVEL OF FUNDING YOU
PROVIDE WITHIN CERTAIN RESERVES.
SO IT IS THE CONSTITUTIONAL
PROVISION AND I WOULD NOTE
PROPOSITION TWO WAS PASSED
OVERWHELMINGLY BY THE
LEGISLATURE AT THE TIME AND
RECEIVED VERY HIGH. UP VOTE
MARGIN FROM VOTERS ON IN
BASICALLY WHAT HAPPENS IS ONCE
YOU REACH THAT TEN PERCENT OF
THE BILLION DOLLARS IN
INFRASTRUCTURE I'M CITING IS THE
PROVISION OF PROPOSITION TWO
WHICH BASICALLY STATES THAT.
ONCE YOU REACH THE TEN PERCENT
CONSTITUTIONAL TARGET THE HOT
SPILLOVER AMOUNT IS THAN FUNDED
UP FOR INFRASTRUCTURE PROJECTS
AND RIGHT NOW WORK PROJECTING
THAT TO BE ABOUT A BILLION
DOLLARS.
ON AND SO I THINK YOU KNOW THE
UNDERPINNING OF THE POLICY AT
THE TIME WAS AGAIN THINKING
ABOUT THE FACT THAT WE HAVE A
RELATIVELY VOLATILE REVENUE
SOURCE. AND THAT SOME OF THE
CALCULATION OF PROPOSITION TWO
IS ACTUALLY BASED OFF CAPITAL
GAINS ONE OF THE MOST VOLATILE
REVENUE SOURCES WE HAVE. HE'D
REALLY VIEW THAT AS ONE TIME IN
NATURE AND SO INFRASTRUCTURE IS
A REASONABLE PLACE TO INVEST ONE
TIME DOLLARS.
I KNOW WE PUT OUT A FIVE YEAR
INFRASTRUCTURE PLAN RIGHT NOW
WITH SIXTY ONE BILLION DOLLARS
IN STATE INFRASTRUCTURE NEEDS.
AND SO.
PART OF THE UNDERPINNING OF
PROPOSITION TWO THE OTHER
PORTION IS OF COURSE FOR PAYING
OFF SOME DEBTS.
AND SO THERE'S THE RESERVE BUT
THEN THERE'S ALSO DEBTS AND
LIABILITIES THAT WERE PAIN DOWN
THROUGH PROP TO. INFRASTRUCTURE
SEEMED A REASONABLE PLACE TO
MAKE SOME OF THOSE ONE TIME
INVESTMENT GOING FORWARD SO IT
REALLY IS A POLICY QUESTION ON
IN OUR VIEW PROPOSITION TWO
ALLOWED US TO TAKE CARE OF SOME
LIABILITIES WE HAD.
TO.
COME UP WITH A ROBUST RESERVE
ON LA ELBOW OFTEN TESTIFYING
IT'S THE TRUTH IN BUDGETING. THE
RESERVE AMOUNT.
A LOT OF THAT REALLY DEPENDS ON
HOW RISK ADVERSE YOU ARE.
A AND THERE IS NO MAGIC NUMBER
FOR THE RIGHT RESERVE AMOUNTS.
ON TEN PERCENT I THINK MOST
PEOPLE FIND PRUDENT ARE MEANT
TO.
MISS WEBBER'S POINT BALANCING
THAT AGAINST SOME OF THE
PROGRAMMATIC NEEDS THAT WE HAVE
IN THE BUDGET.
I'M AND SO WE REMAIN COMMITTED
TO TRYING TO INVEST IN
INFRASTRUCTURE WHICH FULLY
FUNDING THE BSAA ALLOWS US TO.
AND I APPRECIATE THE COMMENTS
AND.
HONESTLY WOULD LIKE MORE WATER
INFRASTRUCTURE IF WE HAVE RIGHT
AWAY TO. PUT A BIAS IN THERE
BUT.
I GUESS THE QUESTION REALLY WAS
TO ASK IF WE AS A BODY ARE A BIT
MORE RISK ADVERSE WHAT WOULD WE
NEED TO DO IF WE WANTED TO
INCREASE BEYOND THE TEN PERCENT.
AND DO WE HAVE THE STATUTORY
AUTHORITY TO HELP TO CHANGE.
THAT PERCENTAGE IF WE SO CHOSE
TO AND WHAT WOULD WE NEED TO DO
TO DO THAT.
YEAH THE STATUTORY AUTHORITY TO
CREATE A RESERVE FUND IN THE
MEDIA THAT THE BUDGET ALL THE
TIME AND DIFFERENT FUND SOURCES.
AFFECT YOU AS WINE PSA IS ONE
THAT WAS CONSTITUTIONALLY AND
CREATED.
ON THE OTHER QUESTION THAT I
THINK IS AN APPROPRIATE ONE THAT
MR MCCARTY RAISES THE
FLEXIBILITY THE BILL BEFORE YOU
ACTUALLY MIRRORS MANY OF THE
RESTRICTIONS THAT YOU HOP AND
PROPOSITION TWO. WHICH WOULD
REQUIRE THE GOVERNOR TO DECLARE
A STATE OF EMERGENCY EITHER
THROUGH A NATURAL DISASTER A
FISCAL EMERGENCY. SO I THINK IT
WAS AT A GOOD POINT TO LOOK AT
THIS AND REALLY TWO VENUES.
THE AMOUNTS AND WHAT YOU THINK
IS APPROPRIATE AND THE
FLEXIBILITY.
ON AND SO IN SOME WAYS ON THE
BILL BEFORE YOU REPLICATES THE
STRUCTURE OF PROPOSITION TWO AND
SO THAT THE POLICY QUESTION. ON
ABOUT WHETHER OR NOT THAT AFFORD
YOU ENOUGH FLEXIBILITY. IN
ESSENCE IT REPLICATES THE
STRUCTURE OF PROP TWO AND
CIRCUMVENTS.
THE INFRASTRUCTURE INVESTMENT
THAT'S REQUIRED UNDER PROP TWO
AND I'M NOT A LAWYER SO I DON'T
ONE OPINE ABOUT WHETHER OR NOT
THAT CAN BE.
ACCOMPLISH STATUTORILY OR NOT.
THANK YOU ANY OTHER.
COMMENTS OR QUESTIONS.
WITHOUT MISTER DALY DID YOU ONE
UP CLOSE.
I REALLY APPRECIATE THE FULL
DISCUSSION AND THE QUESTIONS AND
THE ANALYSIS BY THE DEPARTMENT
OF FINANCING IS VERY VERY
CONSTRUCTIVE AND I APPRECIATE
YOUR TIME. THIS MORNING.
THANK YOU SO THIS.
THIS BILL WILL AGAIN GO TO
SUSPENSE WHICH WE WILL I TAKE UP
AT ARE. TENTATIVELY SCHEDULED
MARCH FOURTEENTH SURE.
THANK YOU MAY FOURTEENTH I'M
SORRY THANK YOU MAY.
MARCH FOURTEENTH HAS PASSED.
ARE.
LET'S START WITH THAT SEEING NO
OTHER BUSINESS WE ARE ADJOURNING
THE BUDGET SUBCOMMITTEE NUMBER
SIX THANK YOU