✅ Does California really have a 2020-21 budget or not? The answer depends upon your sources of information, as you can see from the variety of links below. Even a cursory examination of Golden State lawmaking will reveal that our legislature is adept at conducting business hidden in plain sight.
According to the mainstream media and the otherwise official press, there is a budget ($267B)
sent to Gov. Gavin Newsom for his signature and it will probably be signed before the July 4 weekend. Still, this is only the shell document as so many other details are yet to be finalized in what is now known as the budget trailers
. In part, those details also follow.
The 2021 budget trailers index
page shows some 223 topics that are extra-budget calculations, without considering the actual budget is complicated enough. Seeking details? Anyone may listen to the upcoming webinar and video hearings scheduled via the links below.
Some reports of the pending state budget (as explained in Issue#35
of this series) led us to believe that the new budget will provide a financing plan to assist first-time buyers. That potential economic windfall for some is among the provisions to be explained in the promised budget trailers. If enacted, this public-private financing scheme will be a massive social experiment to create a state-controlled real estate investment trust (REIT) to, allegedly, make housing affordable in the state. But we wait for the trailers to find the details.