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News reports and commentators have cited the state's various legislative supermajority requirements as a contributing factor to the state budget crisis. [23] [24] The state has a long history of supermajority requirements with a 1933 state ballot measure mandating a two-thirds supermajority to pass the state budget and California Proposition 13 (1978) mandating another two-thirds supermajority ...
Opponents, including representatives of the National Governors Association, [13] say that talk of allowing states to seek bankruptcy protection could create doubts in the municipal bond market. [1] A bankruptcy will make it more difficult and more expensive for a state government to obtain credit in the future, and may damage the morale of the ...
Before the 1970s, California offered free tuition at all public colleges. It enabled kids like me from struggling households to become the first in their families to attend college — even ...
Chapter 11 bankruptcy and liquidation financial company [58] April 10, 2009: New Frontier Bank: Chapter 11 bankruptcy and liquidation Bank [59] April 17, 2009: American Sterling Bank: Metcalf Bank: Bank [60] April 24, 2009: American Southern Bank: Georgia Department of Banking and Finance: Bank $ 216,600,000 [61] May 8, 2009: Stanford Bank ...
The state’s Department of Finance acknowledged an “increasing likelihood” that the state won’t bring in as much cash as it initially projected.
Inyo County, the solidly red region in the Eastern Sierra that supported Donald Trump by a double-digit percentage in 2016, flipped to Joe Biden in 2020 by just 14 votes.
The 1992 California budget crisis began on July 1, 1992, when the California State Legislature and Governor Pete Wilson failed to pass a budget by the constitutional deadline, [1] and ended 63 days later. [2]
In conjunction with its filing for bankruptcy, Vintage has filed a notice for mass layoffs with California authorities after already cutting its workforce by at least 15% earlier this year and 7% ...