Tuesday, May 19, California voters will decide the fate of Propositions 1A-1F. Last Thursday, Governor Arnold Schwarzenegger announced that if the special election measures fail, he will suspend Proposition 1A (2004) and borrow $2 billion of local property tax revenues.
Propositions 1C, 1D, and 1E on the statewide ballot tomorrow, contain a total of $6 billion in revenues to the state for fiscal year 2009-10. If those measures fail, the state will have an additional $6 billion budget hole to close, in addition to the current $15.4 billion budget shortfall.
Aware that the result of the special election measures failing could lead to a suspension of Proposition 1A (2004), CSDA’s Board of Directors voted to join the California Budget Reform Now Coalition in support of Propositions 1A through 1F. Visit the California Budget Reform Now Web site for more information about the campaign.
In response to the possibility that the state may borrow local government revenues to balance the state’s budget, CSDA is launching a new section on our Web site to provide timely information on protecting special districts’ services during this chaotic budget environment.
The section is intended to provide CSDA members with up-to-date information about the possible suspension of Proposition 1A (2004).
Check out the site regularly for news articles about the state budget and a possible suspension of Prop1A, information about what you can do to protect district services and information about what CSDA is doing to prevent a suspension of Prop1A.
The new section can be accessed by clicking the link above or going to www.csda.net.