530-993-4379
Sierra Booster
  • Home
  • Newspaper
    • Latest News
    • Letters to the Editor >
      • Submit Letter to the Editor
    • Old News Archive
    • Photo Tour
    • Events
    • About Us
    • SUBSCRIBE
  • Advertiser Directory
    • Advertiser Press Releases
    • Website Sponsors
    • Advertiser Area
  • Buy Ads - Services
  • Fishing Report
  • Contact Us
  • Admin Log In

"The Big Gamble at the State Capitol Casino"

6/5/2020

2 Comments

 
By Joel Fox
Editor and Co-Publisher of Fox and Hounds Daily

Sometimes following action on a bill in the California legislature feels like you are watching a high stakes poker game. This week such a hand was played in which the gambling house (think the ruling majority) risked $269 million hoping to cash in a much larger prize in a few months. ...


Senator Pat Bates dealt the hand as she put up SB 1319, a bill to alter the change in ownership provisions which a long-ago legislature passed to implement a section of Proposition 13, the property tax reform law overwhelming passed by voters in 1978.

Bates' bill would establish new rules to determine when commercial property changes hands. The bill provided that when 90 percent of ownership interest changed hands within a three-year period, a change in ownership of the property is established and the property is reassessed at full market value, increasing property tax revenue for a local county. ...
... If Bates' bill cleared the Senate Finance and Governance Committee earlier this week, it would be on its way to help government budget shortfalls in California to the tune of $269 million a year, according to the Board of Equalization.  ...

But Bates bill failed on a party line 3 to 2 vote.
Legislators are desperately looking for revenue sources to offset the government budget problems. Why turn down more than a quarter-of-a-billion dollars?
Here's where the big gamble came in.
A much larger property tax increase is set for the November ballot. The measure commonly referred to as a "split roll" will reassess business property on a regular schedule and potentially bring in $12 billion a year. ...
So, at the Sacramento casino on Wednesday, the bet was made. Cast aside $269 million in hopes of cashing in on $12 billion.
Given the economic condition of the state and voters' concerns with jobs and the economy, there's a good chance the split roll will fail, and the Capitol gamblers will come out flat busted. ...
Click here to read the entire article published in Fox and Hounds Daily.

###
2 Comments
babar cheema link
11/2/2022 12:26:16 am

Thanks for your information of big gamble at state capitol casino . i am read your article i am very impressive.

Reply
toptotosite link
12/21/2022 01:48:25 am

100% Google-verified safety recommendation company Top Toto Sites
<a href="https://toptotosite.com/">토토사이트</a>

Reply



Leave a Reply.

    Archives

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    April 2014
    September 2009

    Categories

    All
    2015
    Sierra County News

    RSS Feed

    Vie
    ​w Old News

CONTACT US:

Sierra Booster Newspaper
PO Box 8
Loyalton, CA 96118
Phone: 530-993-4379
Fax: 844-272-8583
Email: jbuck@psln.com

Website Privacy Policy​
Picture
Local Weather
©Copyright Sierra Booster - Sierra County News - Editorial
Website by Chamber Nation