2014 Legislation

AB 2109 (2014) improves transparency for parcel taxes approved by voters.

AB 2250 (2014) requires any excess revenue generated from a managed lane to remain available for use within the respective corridor in which the managed lane is located when administered by a regional transportation agency.

Budget Highlights

2014-2015

  • Reduced the Wall of Debt by more than $10 billion by paying down $5 billion in deferred payments to schools, paying off Economic Recovery Bonds one year ahead of schedule, repaying various special fund loans and reimbursing $100 million in mandate claims that have been owed to local governments since at least 2004.
  • Continued the state's reinvestment in local schools, providing more than $10 billion this year alone in new Proposition 98 funding. This included $4.7 billion for the second year of implementation for the Local Control Funding Formula, which directs new education revenues to districts serving English language learners, students from low-income families and foster youth.
  • Included $872 million of Cap-and-Trade auction proceeds for greenhouse gas reduction, with an emphasis on assisting disadvantaged communities. The objective was to increase energy, water and agricultural efficiency, restore forests in both urban and rural settings and create incentives for improved recycling.