Gov. Jerry Brown will sign California’s $156.2 billion state budget for the upcoming fiscal year in San Diego Friday, according to the governor’s office.

Gov. Jerry Brown. Photo credit: Chris Stone.

Brown will be joined at the 9:45 a.m. City Hall signing ceremony by Assembly Speaker Toni Atkins, D-San Diego, and Senate President Pro Tem Darrell Steinberg, D- Sacramento.

The state budget for the fiscal year starting July 1 includes a $1.6 billion “rainy day fund” and $142 million for drought-response measures, such as firefighting, water management, wildlife preservation and food assistance.

Brown hit the stump for his budget plan last month in San Diego.

The governor reached an agreement with the Legislature on the reserve fund in the state budget, that would:

  • require the state to bank large increases in capital gains revenues, which are the most volatile form of tax income;
  • require supplemental payments to accelerate the payoff of the debts and liabilities;
  • raise the dollar amount the rainy day fund to 10 percent of general fund revenue;
  • allow withdrawals to be made from the fund when needed during recessions, within set limits, and
  • create a reserve account for education to avoid future funding cuts.
Assembly Speaker Toni Atkins (D-San Diego) speaks to the Sacramento Press Club. Image courtesy Atkins office

Additional agreements with legislative leaders last week will add at least $180 million for:

  • overtime pay for health care workers who serve the disabled and elderly in their homes
  • direction of a quarter of cap-and-trade revenue toward construction of a high-speed rail line, and
  • expansion of preschool opportunities for economically disadvantaged children.

The general fund, for discretionary spending, will be nearly $108 billion.

– City News Service

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