Legislation
Anticipated State Budget Deficit Worsens
A new Legislative Analyst Office (LAO) report shows tax revenue falling well below projections. The agency projects a new California budget deficit of $78 billion.
The deficit will likely cause the state to dive into reserve funds and cut spending at a level not seen since the Great Recession.
California Lawmaker Proposes Bill That Would Legalize Drinking on Public Streets
A bill proposed in the State Senate would allow for the consumption of alcohol in certain public streets and areas.
Read MoreCalifornia Lawmakers Push Back on Proposed Utility Fee Changes
California legislators are fighting back against a proposed utility change that would lower the price for low-income households.
Read MoreLA City Council has Allocated $150 Million in Measure ULA Funding
Following its passage in the 2022 election, the Los Angeles City Council has led to a decreased transaction volume in Los Angeles.
Read MoreGovernor Newsom Calls for Legislation to Crack Down on Organized Retail Crime
Governor Newsom has called for new laws to expand penalties on professional thieves and crackdown on organized retail crime.
Read MoreLA City Council Removes Hotel Initiative from 2024 Ballot
A 2024 ballot initiative that would’ve required hotels to make vacant rooms available for homeless individuals is officially dead.
Read MoreIndependent Redistricting to Go on 2024 Ballot
The Los Angeles City Council has approved a proposal that would place independent redistricting on the 2024 ballot.
Read MoreState of Business with Mayor Richardson of Long Beach
BOMA/GLA attended the State of Business with Mayor Richardson, where he announced Grow Long Beach new initiatives.
Read MoreCalifornia Fuel Tax Revenue to Decline by Billions
With California being a leader in electric vehicles, reports estimate that it could come at the expense of fuel tax revenue.
Read MoreFed to Hold Interest Rates Steady, Indicate Cuts in 2024
The Federal Reserve announced they will keep interest rates the same for the third time in a row and indicated that cuts will be coming in 2024.
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