Passage of Proposition 2 – Positive effects on California’s financial stability
Wednesday, Oct 29th, 2014
Passage of Proposition 2 (the Rainy Day Budget Stabilization Fund Act) will have a number of positive effects on California’s financial stability, but it will also be beneficial for county governments as well. In the past, there have been occasions when services provided by the counties should have been paid for or at least reimbursed by the state. But, due to state overspending and the recession, these funds were withheld from the local jurisdictions forcing counties to use their own general tax revenue to cover the costs.
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