Riles unveils 3.9 million school financing plan
California state schools chief Wilson Riles unveils a 3.9 billion annual school finance plan to reduce property taxes. The package would provide 500 million for state aid and 500 million for tax relief, with 250 million earmarked for high-need urban districts and a 2.50 per 100 assessed property tax to fund the program. The plan aims to meet the Serrano ruling and would assemble about 3.5 billion in annual costs from state and general fund sources.
MENTIONED IN THIS ARTICLE
Sacramento
California
Cheif Wilson Riles
Riles
San Francisco
State Supreme Court
Assembly
Bob Moretti
D-Van Nuys
Serrano
Moretti
Assembly to decide owners of surplus teacher funds
In Sacramento a legislative panel weighing whether Los Angeles taxpayers or teachers should own an estimated 97 to 150 million dollars in surplus retirement funds from the LA Unified School District Teachers Retirement System. The issue arises if LA teachers merge with STRS and faces a likely assembly vote next Monday. The debate pits the California Taxpayers Association against a plan to grant a retirement bonus to long serving teachers, with broad fiscal implications for district and state contributions. The question hinges on whether residual funds belong to taxpayers or the LA teachers and how merging would affect district tax rates and STRS benefits.
MENTIONED IN THIS ARTICLE
Sacramento
Los Angeles
Assembly
James Q. Wedworth
Reagan
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State Department of Finance
William
Pi Anaheim
UPI
Anaheim Convention Center
Bagley
R-San Rafel
Leroy Greene
Assembly Education Committee
Hve
Solomon
Wedworti
Gov
CTA
Charles Baldwin
Senate Governmental Organization
Wedworth
Senate
Hawthorne
E. Richard Barnes
San Diego
ILWU
SAN Prancisco
Pacific Coast Longshare
International Longshoremen’s and Warehousemen’s Union
Pacific Maritime Association
East Coast
Gulf
Downey
Paramount
Steve Shery
Levi's
West
Westwood
Garden Grove
Glendale
North Brand
Long Beach
Sherman Oaks
van Nuys Boulevard
Ventura Freewa
Mother's Helpers
Orig
Jcpenney Shop
Buena Park
Compton
Lakewood
Los Altos
Norwalk
Torrance
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