California: In his final act of the legislative session, Governor Newsom signs legislation promoting fiscal responsibility and budget stability
The Californer/10292958

~ In his final act of the legislative session, Governor Gavin Newsom has signed a new legislation aimed at promoting fiscal responsibility and budget stability in California. The bill, AB 179, creates new tools for the state to set aside a portion of anticipated surplus funds in future fiscal years.

Governor Newsom stated that this legislation builds on the balanced budget passed in June, which eliminated the state's deficit without raising taxes or making deep cuts to essential programs. He emphasized the importance of living within our means and taking a conservative and prudent approach to budgeting, just like families across the state do.

The main tool introduced by AB 179 is the creation of a Projected Surplus Temporary Holding Account, which allows the state to reserve anticipated surpluses for future use. This ensures that California's budget remains balanced and that funds are available for critical services such as education, healthcare, and infrastructure improvements without sudden program cuts or tax increases.

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The bill also highlights the state's commitment to smart fiscal management by allowing the Department of General Services (DGS) to increase efficiencies in public works projects, job order contracting, and contracting oversight.

This legislation is a testament to California's fiscal discipline under Governor Newsom's leadership. The state has successfully eliminated its deficit through careful budgeting and prudent fiscal management. Additionally, there have been no tax increases on hardworking Californians or deep cuts to essential services such as public safety, education, and healthcare.

Furthermore, Governor Newsom and the Legislature have consistently set aside record amounts of reserves to prepare for any future economic challenges. The new holding account created by AB 179 serves as an additional safeguard to ensure that funds are only spent once they are realized.

In previous years when California experienced significant budget surpluses, much of that money was used to pay down long-term debt and fund one-time expenditures. This responsible approach will continue with AB 179 in place.

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Along with signing AB 179, Governor Newsom also announced that he has signed several other budget-implementing bills, including AB 157, AB 158, AB 176, AB 177, AB 178, AB 180, and AB 181. These bills cover various areas such as education finance, health, public resources, state government, state employment agreements, and oil and gas regulations.

In other news, Governor Newsom has also made three judicial appointments to the Court of Appeal. Justice Brian M. Hoffstadt has been nominated as Presiding Justice of the Second District Court of Appeal, Division Five while Judge Michelle C. Kim has been appointed as an Associate Justice of the Second District Court of Appeal. Additionally, Judge David A. Thompson has been nominated as an Associate Justice of the Fourth District Court of Appeal.

Lastly, Governor Newsom signed a bill today that prohibits legacy and donor preferences in admissions at private nonprofit universities in California. This move aims to promote fairness and equal opportunities for all students seeking admission to these institutions.

With these recent developments in California's fiscal management and judicial appointments, Governor Newsom continues to demonstrate his commitment to responsible governance and promoting equity in the state.

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