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May Revision would withdraw CalCompetes grant funding and revert payroll equity and arts-related appropriations; businesses and arts advocates warn of local rip
Summary
The May Revision would withdraw $60 million proposed for CalCompetes grants and revert $11.5 million from the state’s Small Business Equitable Payroll Fund, GoBiz and Finance staff told a Senate Budget subcommittee.
Subcommittee members questioned the administration about May Revision changes to the Governor’s Office of Business and Economic Development (GoBiz) proposals, including a proposed $60 million withdrawal for the CalCompetes grant program and a reversion of $11.5 million from the Small Business Equitable Payroll Fund (authorized in 2023). Finance and GoBiz staff said the May Revision reduces or reappropriates several items to address the state's fiscal condition.
Department of Finance analyst Charles Lassol outlined the changes: the May Revision would withdraw $60 million that the governor's budget…
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