SACRAMENTO — California’s two university systems could receive an additional $100 million this year under a proposal by Assembly Speaker Toni G. Atkins and Assembly Democrats.
California State University and University of California systems would receive $50 million each, the same amount they would have received under a budgeting formula that was contingent on the amount of property tax collected this year. Meanwhile, however, other revenues came in well above predictions, which can more than cover the university expenditure.
“Last month’s Department of Finance announcement that property tax revenues did not exceed projections was a serious letdown for California’s higher education institutions,” said Speaker Atkins (D-San Diego). “Fortunately, with General Fund revenues ending 2013-14 nearly $400 million above projections, the Assembly is prepared to restore desperately needed funding to the UC and CSU.”
The bill is co-authored by Assemblymember Al Muratsuchi (D-Torrance), Assemblymember Nancy Skinner (D-Berkeley) and Assemblymember Das Williams (D-Carpinteria). Senate Bill 872 has been amended to include the funding increase and will be considered by the Assembly during the final weeks of the Legislative session.
