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Budget committee approves review of citywide revenue options, seeks initial list in 45 days
Summary
The Budget and Finance Committee approved a motion directing city finance staff to compile revenue-generation options and a four‑year budget outlook; staff will return with initial options within 45 days and two fuller reports on transient occupancy tax and business tax by February.
The Los Angeles City Budget and Finance Committee on a unanimous 5-0 vote approved a motion directing the City Administrative Officer (CAO), Office of Finance and Chief Legislative Analyst (CLA) to produce a coordinated review of revenue-generation options and a four-year budget outlook.
The motion asks staff to produce an initial, 45-day list of possible revenue ideas — grouped by type (tax, fee, bond, asset maximization or other), who would pay, and the likely effect on the general fund or special funds — and to follow with two fuller reports by February: one on transient occupancy tax (TOT) options tied to upcoming international events and…
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