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The California Little Hoover Commission (LHC), officially the Milton Marks "Little Hoover" Commission on California State Government Organization and Economy, [1] is an independent California state oversight agency modeled after the Hoover Commission and created in 1962, that investigates state government operations and promotes efficiency, economy and improved service through reports ...
Certain scholars and politicians have advocated for a reform of the law to allow states to seek bankruptcy. [6] [3] [4] They argue that the law will require voluntary consent by the state and will not give the federal government or creditors the power to force a bankruptcy; therefore it would not interfere with state sovereignty or be unconstitutional.
According to the act, an agency can adopt a new regulation only if it is within their scope of authority and consistent with state law. The act explicitly states that in any area where state or federal regulations may conflict with the act, state or federal regulations should be held superior. [3] The act created the Office of Administrative ...
The U.S. Court of Appeals for the District of Columbia Circuit blocked an attempt by Ohio, Alabama, Texas and other Republican-led states to revoke California's authority to set standards that are ...
Issues and manages public debt. To this end, the treasurer is trustee, registrar, and paying agent for all general obligation and revenue bonds contracted by the state of California. [10] In addition, the state treasurer supervises and reports on municipal debt. [11] Invests state funds. Assets under the state treasurer's management include ...
California’s Employment Development Department, which oversees the state’s unemployment insurance program, has said that it would rely on increased federal taxes on employers to pay down the debt.
California faced another budget gap for 2010, [8] with $72 billion in debt. [9] California faced a massive and still-growing debt. [10] In June 2009 Gov. Arnold Schwarzenegger said "Our wallet is empty, our bank is closed and our credit is dried up." [11] He called for massive budget cuts of $24 billion, about 1 ⁄ 4 of the state's budget. [11 ...
Local Agency Formation Commissions or LAFCOs are regional service planning agencies of the State of California.LAFCOs are located in all 58 counties and exercise regulatory and planning powers in step with their prescribed directive to oversee the establishment, expansion, governance, and dissolution of local government agencies and their municipal service areas to meet current and future ...