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May Revision proposes $400 million loan from labor and workforce fund; unions and grantees urge rejection
Summary
The governor's May Revision proposes a $400 million loan from the Labor and Workforce Development Fund to the General Fund, repayable in 2029' 30; fund is mainly fed by PAGA civil penalties. LAO cautioned PAGA reforms may reduce future revenues; worker organizations and community grantees urged the subcommittee to reject the loan.
The California State Assembly Subcommittee 5 on State Administration heard a proposal in the governor's May Revision to loan $400 million from the Labor and Workforce Development Fund to the General Fund, with the administration proposing repayment in fiscal year 2029' 30 and provisional language that would allow earlier repayment under conditions.
Grace Henry of the Department of Finance said the loan would come from resources not projected to be used for current operational or programmatic purposes; after the loan and proposed requests the fund's projected 2025' 26 ending…
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