News & Analysis as of

State Budgets California State and Local Government

Manatt, Phelps & Phillips, LLP

Governor Proposes to Overcome $45 billion Budget Deficit

California Governor Gavin Newsom released the “May Revision” to the state budget on Friday. The May Revision, or “May Revise,” takes into account actual state revenues collected through April....more

McDermott Will & Emery

New York State Budget Institutes Revenue-Neutral Health Plan Tax

The New York State fiscal year 2024 – 2025 budget was signed on April 20, 2024, instituting, among many other provisions, a new tax on health plans, including insurers and managed care organizations. This tax has been...more

Manatt, Phelps & Phillips, LLP

Governor Newsom Proposes California FY 2024–25 Budget

Governor Gavin Newsom has unveiled his January budget proposal, which authorizes $291.5 billion in spending, significantly less than the $310.9 billion budget plan enacted just six months ago.  To balance the proposed...more

Manatt, Phelps & Phillips, LLP

2023–24 California State Budget Finalized—At Least for Now

After around-the-clock weekend negotiations between Democratic legislative leaders and Governor Gavin Newsom, working against a looming June 30 constitutional deadline, leaders announced a budget agreement late Monday night....more

McGuireWoods Consulting

California Update: State Legislature Passes its Version of the 2023-2024 Budget

The California State Legislature recently passed its version of the 2023-2024 State Budget on June 15th, meeting its constitutional deadline to do so. The $311.7 billion spending plan approves various key components of the...more

Nossaman LLP

Governor Newsom’s Infrastructure Package of Budget Trailer Bills Down But Not Out

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Last month, through the annual process known as the “May Revise,” California Governor Gavin Newsom released an update to the 2023-24 state budget proposal that he first introduced in January. The updated budget proposal sets...more

Nossaman LLP

CEQA Reform: Making Sense of California’s Budget Trailer Bill

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On June 12, 2023, each house of the California State Legislature released the proposed language of the Budget Act of 2023. The Legislature’s proposal excludes the California Environmental Quality Act (CEQA) and permit...more

Manatt, Phelps & Phillips, LLP

Newsom's Updated Budget Proposal Safeguards Health Care Funds Amid Growing Deficit

California Governor Gavin Newsom has released his “May Revision” budget, which updates his initial FY2023-24 budget proposal released in January. His updated budget totals $307 billion--$10 billion more than he proposed in...more

Brownstein Hyatt Farber Schreck

CA Governor Releases State Budget Updates Amid $32 Billion Shortfall

On Friday, May 12, California Gov. Gavin Newsom held a press conference to present the May Revise to the 2023-24 state budget proposal. This budget updates the governor's January budget announcement by demonstrating a...more

Manatt, Phelps & Phillips, LLP

Governor Newsom’s May Budget Proposal Urges Fiscal Prudence in Uncertain Times

California Governor Gavin Newsom has unveiled his May Revision to his January $297 billion spending proposal for FY2023-24. His new proposal totals $307 billion and addresses a projected $31.5 billion deficit, a $9 billion...more

Allen Matkins

California Environmental Law & Policy Update -1.13.23 - #2

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Governor Gavin Newsom on Tuesday unveiled a 2023 state budget proposal that includes significant cuts to climate investments due to an estimated budget gap of $22.5 billion for the 2023-2024 fiscal year....more

Nossaman LLP

The Impact of Governor Newsom’s Proposed Budget on Water Projects

Nossaman LLP on

On January 10, 2023, Governor Gavin Newsom announced his $297 billion budget proposal for 2023-2024, which includes a $22.5 billion budget deficit. Despite environmental/climate change programs facing $6 billion in cuts,...more

Manatt, Phelps & Phillips, LLP

California State Budget Update

Governor Gavin Newsom, Assembly Speaker Anthony Rendon and Senate President Toni Atkins have reached agreement on a more than $300 billion “budget framework” for the state’s 2022–23 budget. The full Legislature must approve...more

Manatt, Phelps & Phillips, LLP

2022–2023 State Budget Update

California legislators have passed a 2022–23 spending proposal. This year’s budget measure, Senate Bill 154, totals over 1,000 pages. The Senate voted 28 to 8 to send the budget to Governor Newsom. The final Assembly vote was...more

Allen Matkins

Governor Proposes To Increase In DFPI Spending

Allen Matkins on

Yesterday, Governor Gavin Newsom met the constitutional deadline for submitting a proposed budget.  Cal. Const. Art. IV, § 12(a).  The release of the budget kicks of a prolonged legislative process.  In the next several...more

Perkins Coie

California Commits $15 Billion to Fighting Climate Change

Perkins Coie on

Governor Gavin Newsom signed a $15 billion legislative package on September 23, 2021, funding efforts to combat climate change in California over the next three years. It is the largest climate investment package in the...more

Manatt, Phelps & Phillips, LLP

California’s 2021–2022 State Budget: Focus on Health Care

California’s New Budget Commits the State to Record Health Care Spending - California Governor Gavin Newsom and the state Legislature enacted a $196 billion spending plan for FY2021–22, including authorizing a 29% increase...more

Manatt, Phelps & Phillips, LLP

California’s History-Making 2021–2022 State Budget: An Overview

California Governor Gavin Newsom and the state Legislature enacted a $196 billion spending plan for FY 2021–22, the largest budget in state history. Buoyed by a record budget surplus estimated at $85 billion, including $26…...more

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