State budget woes grow deeper as rosy projections come up short Washington hasn't come to the rescue. Hopes for a tax windfall were dashed last month. As the reality of a $20 billion deficit sets in, California leaders are bracing for another summer of difficult state budget talks. Gov. Arnold Schwarzenegger will kick off serious budget discussions Friday with his May budget revision. (Emphasis mine.) The California state budget process looks something like this: By January 10 of every year, the Governor presents his state budget to the Legislature (California Constitution Article 4 Section 12(a)). The Legislature hashes at it. By mid-May, the Governor submits his May revise, the “revise” taking into account changes in the economy, shifting spending priorities, etc. The Legislature resumes chewing. The Legislature must pass the budget bill by June 15 (California Constitution Article 4 Section 12(c)(3)). El Guv has certain line item veto ...
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