State Budget

By Michael Allen

Michael Allen is bringing Democrats and Republicans together to solve California's budget deficit.

Michael's legislative work to fix our state budget includes:

2011 + 2012 State Budget: Crafted budget agreement that not only balances this year's budget but will eliminate 75 percent of the state's ongoing structural deficit, moving California towards a more stable fiscal landscape in the future. (signed by Governor)

AB 1042 (Improving Financial Accountability in CalPERS). Allows CalPERS to create a Chief Financial Officer position to oversee corporate finance and coordinate other finance functions throughout the organization to create a single point of financial accountability. Establishing such a position and hiring a high caliber, experienced individual is a critical step in achieving a higher level of transparency and tighter internal controls in its financial operations. (sponsor, signed by Governor)

AB 1320 (Pension Stability). Creates Rate Stabilization Accounts so when employer contributions are reduced for pension benefits, funds can be set aside so that when market conditions decline, funds will already be in place to cover the changing employer contribution. This measure helps bring budgeting stability and sustainability for local governments. (sponsor, signed by Governor)

ACA 19 (Indirect Initiative Process). In line with eight other states, seeks to establish an indirect initiative process whereby proponents of a measure may bring a proposal that has received a qualified number of signatures for purposes of improving the initiative without changing the proposal's intent. Proponents can also request that the Legislature pass the proposal without placing the proposal on the ballot. The action by the Legislature is not binding and the proponents could choose to place their original proposal on the ballot if the Legislature's input is unsatisfactory. California had an indirect initiative until 1966 but the process was not used (primarily because the initiative process was not widely used) and the law was repealed. (sponsor, signed by Governor)