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May revision proposes $400 million loan from Labor and Workforce Development Fund; unions urge rejection
Summary
The governor's May revision would borrow $400 million from the Labor and Workforce Development Fund to the General Fund, repayable in 2029—30; labor groups and outreach grantees urged the subcommittee to reject the loan, saying funds should support enforcement and outreach programs.
The Assembly Subcommittee 5 on State Administration heard the administration—s proposal to loan $400 million from the Labor and Workforce Development Fund to the General Fund as part of the May revision and heard extended public opposition from labor and community groups who said the fund is needed for enforcement, outreach and worker education.
Grace Henry of the Department of Finance described the proposal as a loan that would be repaid in fiscal year 2029—30 with provisional language allowing earlier repayment under specified conditions. "To achieve a balanced budget, the May revision includes a loan of $400,000,000 from the Labor and Workforce Development Fund to the General Fund with resources that are not…
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