As Gov. Jerry Brown focuses on paying down the California’s State Teacher’s Retirement System’s $74-billion debt, public schools will start to feel their purse strings tighten.
Howard Blume and Chris Megerian report in the Los Angeles Times: “California's school systems still will see overall funding rise, but not as much as they'd been planning after several years of reductions. Under the governor's plan, the pension contribution from school districts will rise next year to 9.5% of payroll from the current 8.25%This will increase to 19.1% over seven years. In other words, for a teacher who earned $50,000 a year, a district would have to set aside an additional $9,550 annually for that instructor's retirement.”
“Paying that much to the pension program "could be devastating," Perris Union High School District Supt. Jonathan Greenberg said.”
Moody’s credit rating agency predicts the severe drought will not have a significant impact on California’s economy or credit rating.
Allen Young reports in the Sacramento Business Journal: “Agriculture companies make up a relatively small share of the state’s economy and state government revenue. The sector contributed 1.5 percent to the state’s gross domestic product in 2012, half of the contribution of the construction industry and less than a quarter of the information and high-tech sector.”
Santa Cruz has become the first California County to ban the use of hydraulic fracturing.
Petere Jon Shuler and Molly Samuel report for KQED: “Tuesday morning the Board of Supervisors unanimously approved the pre-emptive move against hydraulic fracturing, a technology that uses water and chemicals to unlock oil and gas underground.”
“Some would say this is a symbolic gesture,” said Supervisor Bruce McPherson. “But I think it’s a message that needs to be sent out and listened to, especially on our quality of life and particularly about the impact it might have on our water supply, whether it occurs inside this county or in adjacent counties.”
Federal energy agencies dramatically cut back the estimated amount of recoverable Monterey Shale oil.
Louis Sahagun reports in the Los Angeles Times: “Just 600 million barrels of oil can be extracted with existing technology, far below the 13.7 billion barrels once thought recoverable from the jumbled layers of subterranean rock spread across much of Central California, the U.S. Energy Information Administration said.”
“The new estimate, expected to be released publicly next month, is a blow to the nation's oil future and to projections that an oil boom would bring as many as 2.8 million new jobs to California and boost tax revenue by $24.6 billion annually.”
California’s campaign finance laws put no limits to the millions flowing in by independent committees.
John Wildermuth reports in SF Gate: “Much of that independent money is being spent on dueling radio ads and colorful mailers that sound and look an awful lot like what a candidate would run, except for the final disclaimer that says the candidate had absolutely nothing to do with the ad or mailer.”
“The often hard-edged and sometimes factually challenged statements that show up in ads and mailers from independent groups also give a candidate some cover when the opposition starts screaming. If the groups are truly independent, candidates can argue, what can I possibly do?”
Evidence in Sen. Leland Yee’s case will remain secret by order of the judge.
Howard Mintz reports for The Mercury News: “Under the so-called protective order, dozens of defense lawyers will not be able to disclose evidence they receive from prosecutors, who are required to turn it over under U.S. Supreme Court precedent. The order, however, would not necessarily apply to evidence later contained in publicly filed court documents.”
“Serra was the only defense lawyer in the case to object to the restriction, although he was joined in his arguments by several media organizations. Chow has been charged with gun trafficking, conspiracy and money laundering in an indictment that includes Yee, the suspended state legislator charged with accepting bribes for political favors.”
