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May revision withdraws Cal Competes grant funding and reverts $11.5M from equitable payroll program; lawmakers press for local economic impact data
Summary
The May revision would withdraw $60 million in proposed Cal Competes funding and revert $11.5 million from a small-business equitable payroll fund, prompting subcommittee members to press GoBiz for data on local economic impacts.
The subcommittee took up the May revision proposals for the Governor's Office of Business and Economic Development (GoBiz). Finance staff described multiple program-level changes and reappropriation requests; lawmakers focused on two high-profile reversions.
What was proposed - Cal Competes: Finance said the May revision would withdraw $60 million the governor proposed for the Cal Competes grant program in 2025-26. - Equitable Payroll Fund reversion: The May revision proposes to revert $11.5 million that had been included in the 2023 budget act for a…
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