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They didn’t have a choice - it was mandatory to return the surplus funds over a specific amount back to residents (SAL or Gann Limit) https://www.transformca.o
by mikeyouse 3y ago
They didn’t have a choice - it was mandatory to return the surplus funds over a specific amount back to residents (SAL or Gann Limit)
https://www.transformca.org/post/california-s-ginormous-budget-the-gann-limit-and-why-it-all-matters https://www.transformca.org/post/california-s-ginormous-budg...
- _hypx 3y agoBecause of how California taxation works, there are good reasons to have a 5 year rolling tax window and set budgets based on that. That would give us a much clearer picture of real budget surpluses and deficits.