Monday, March 21, 2022. Increased corporation taxes due to higher corporate profits and more pass-through businesses choosing to participate in an elective tax payment program. (See Reserves section.) Want to submit a guest commentary or reaction to an article we wrote? The governors proposal estimates that the BSA is now at its constitutional maximum (10% of General Fund revenue), resulting in a required $476 million in infrastructure investments in 2022-23. For 15 years from 2015-16 to 2029-30 half of these funds must be deposited into the rainy day fund and the other half is to be used to reduce certain state liabilities (also known as budgetary debt). West Contra Costa Unified stands to receive about $20.4 million of that. This year, all benefit recipients will receive a COLA that is less than the 6.25% increase in the CPI. The administrations proposal to expand food assistance to adults age 55 and older is an important step. For the past two budget cycles, the state stepped in and spent about $5.5 billion toward defraying districts short-and long-term pension obligations. Members retired prior to September 1992. Know that when you follow CTA recommendations on candidates and important initiatives, you are voting to support California students, schools and colleges. For example, more than 14 million Californians with modest incomes nearly half of whom are Latinx receive free or low-cost health care through Medi-Cal (Californias Medicaid program), several million more than before the ACA took effect. After this year, the state will provide $170 million annually from the general fund to create a college savings account for every low-income first grader. Nugent himself regularly transports kids to and from school in a van. Those include $265 million to support the transition from oil and gas to other industries and $235 million for training programs and grants across various climate-related industries. Allocate large one-time discretionary grants in the K-12 and California Community College systems using equity-based formulas. Having a place to call home is the most basic foundation for health and well-being no matter ones age, gender, race, or zip code. Californians across the state have put their own health and well-being at risk to keep our communities running amid the ongoing pandemic, and the 2022-23 state budget agreed upon by the Legislature and governor should ensure kids, families, and individuals can be healthy and thrive. Here is what all of this means for the 2022 COLA based on the June 2021 data. However, we do need to be very cautious, Wold said. Since the beginning of the 2021-22 academic year, students in low-income, Black and Latinx households were most likely to cancel all plans to take classes from postsecondary institutions. Their historical support for public education, students and educators, in such areas as education funding, budget stability, safe schools and campuses for all students, collective bargaining, educator professional rights, charter school accountability, and equal access to higher education. However, those who retired less than one year ago will receive a prorated increase based on the starting date of their retirement. For example, under the governors proposal, while a family of three with no excluded members would receive a grant that is above deep poverty at 53% of the federal poverty line, a family with an excluded member would receive a grant that is below deep poverty at just 42% of the federal poverty line. Those approved are brought to CTA State Council (800 delegates), which debates and makes final recommendations. As proposed, all counties would participate in the program, but it does not require courts to order housing or to require the county to provide housing. We are currently processing applications received before: 12/20/2022. For the CSU, the revised budget provides the following adjustments in addition to the $304.1 million ongoing General Fund proposed in January: For the UC, the revised budget provides the following adjustments in addition to the $307.3 million ongoing General Fund proposed in January: Cal Grants are the foundation of Californias financial aid program for students with low and middle incomes pursuing higher education in the state. Prop. 2 also established a new state budget reserve for K-12 schools and community colleges called the Public School System Stabilization Account (PSSSA). The May Revision maintains the January proposal to allow former CalWORKs families to receive outstanding child support debt that currently goes to the state, county, and federal governments as reimbursement for the costs associated with the CalWORKs program. We need our workforce to mirror our rural community, and it currently does not.. CalSTRS makes these payments to retired members and beneficiaries whose benefits have fallen below a certain level of purchasing power, subject to the availability of funds. California voters approved Proposition 2 in November 2014, amending the California Constitution to revise the rules for the states Budget Stabilization Account (BSA), commonly referred to as the rainy day fund. In the revised budget, the administration again misses the opportunity to raise CalWORKs grants above deep poverty for all families. The revised budget includes the following changes for the Children and Youth Behavioral Health Initiative, which aims to transform Californias behavioral health system for all children and youth: The May Revision also includes proposals for suicide prevention efforts, highlighting the need to address youth suicide rates, particularly among transgender youth and Black youth. ( The 202223 Budget: California's Fiscal Outlook contains an abbreviated version of this report, along with the outlook for other major programs in the state budget.) We have to fix some of these barriers.. UCRP benefit recipients are eligible to receive a COLA if they have been retired one full year by July 1. TK is a two-year kindergarten program offered at local educational agencies (LEAs) to children turning five between September 2 and December 2 of each year. For example, the revised budget excludes: Notably, only a small share of Gann-exempt infrastructure spending that the May Revision budgets for 2022-23 would go toward housing a clear missed opportunity in light of the states housing affordability crisis. We have to start organizing at the neighborhood level to get people educated to vote. ~ Dolores Huerta. California has adopted various justice system-related policy changes that reformed sentencing laws while still ensuring public safety. There are more than 300,000 public school teachers in California, making them an attractive market. While the governors proposal makes some strides, it fails to adequately provide direct, meaningful assistance to individuals and families struggling the most to pay for basic needs. In an attempt to target the small number of unhoused individuals that lack decision-making capacity due to an untreated serious behavioral health condition, the May Revision includes the governors proposed Community, Assistance, Recovery, and Empowerment (CARE) Court plan that was unveiled in early March. In addition, the revised budget projects inflation to fall to around pre-pandemic rates by the end of 2023, which should contribute to real average wage gains in the coming years. Instead, midway through, the year has been "shock and overload," with teachers and administrators "working harder and losing ground," as Mike Kirst, former president of the State Board of Education, put it. Modest improvements to the Young Child Tax Credit and a new tax credit for former foster youth, as proposed in January and covered in the. While we dont know the specific situation or teachers involved, our communication regarding their retirement fund options has always been open and transparent, helping teachers make the right decisions that are in their best interest to help them reach their specific retirement goal. The intersection of the pandemic and structural racism continues to highlight the need to address the root cause of health disparities. Estimates for the 2022 COLA range from 5.8 percent from economist Bill McBride, who writes the finance and economics blog Calculated Risk, to 6 to 6.2 percent from The Senior Citizens League. These vendors do in fact include CalSTRS, Vanguard, and Fidelity; these available options have been offered for many years and have always been communicated to participants as part of the investment options available to them.. How much money is in California's state budget reserves? (See the Housing & Homelessness section.). Click here for EdSource's Comments Policy. $10,000. However, SpaceX is estimated to be the second-highest-valued private company in the world. Educators are voting for Tony Thurmond because he has a proven record of fighting for students and educators during the most difficult times, and he is focused on getting all students the support they need to thrive. Finally, districts will also have to resume paying their full share of pension payments to CalSTRS and CalPERS. Previous information released by the administration suggested that the rebates would be provided to eligible individuals by a third-party vendor based on information provided by the Department of Motor Vehicles (DMV). Gov. This proposal appears to be one of the major ways the proposed budget would stay under the State Appropriations Limit (see the Gann Limit section). An expansion of an existing sales tax exemption for business equipment purchases, focused on businesses that extract, process, or manufacture with lithium, at a cost of $15 million annually from 2022-23 through 2024-25. For couples, the maximum monthly SSP grant rose from $407.14 to $504.64. Information. Among the $89.2 billion set aside for education is a 3.84% cost-of-living adjustment for K-12 schools. It would have made it more difficult to navigate some of the effects of the pandemic on our students and would have been painful in that sense to address students needs when we get back to campus.. The California Constitution sets forth three main tests for calculating the Proposition 98 minimum guarantee. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We welcome your comments. Some companies may claim to offer 403(b) administration for free, but they recoup money in other ways, it warned. The form includes benefit payments issued from January 1, 2022 through December 31, 2022. The governors revised spending plan significantly increases funding for the states equity-based K-12 education funding formula, the Local Control Funding Formula (LCFF), but proposes a less equitable per-pupil formula to allocate a large discretionary block grant.