|Feb. 23, 2016
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League Urges BOE to Stabilize Gas TaxThe State Board of Equalization (BOE) today approved a 2.2 cent per gallon decrease, from 12 cents to 9.8 cents, in the state variable tax on gasoline for FY 2016-17. This action will result in yet another dramatic decrease in the variable gas tax revenues received by cities. The decrease is equivalent to the Department of Finance’s projected 2.2 cent reduction. The decrease will take effect July 1, 2016.
Revenue and Taxation, Transportation
Deadline is April 29, 2016The League of California Cities® is now accepting nominations from elected officials interested in serving in one of six at-large board positions (two-year term), or as second vice president (one-year term).
Board, Action Item
Survey Open until March 16Unfunded Other Post-Employment Benefits (OPEB) continues to loom as a long-term financial challenge for public agencies at both the state and local levels. Fortunately, many cities have minimal OPEB obligations and many others have taken aggressive steps toward addressing those future obligations. However, there remains little comprehensive information available on the scope of OPEB challenges facing municipalities in California and how cities are effectively managing those obligations.
Municipal Finance, Action Item
California Statewide Communities Development Authority (CSCDA). This program provides a variety of public agencies and developers access to low-cost, tax-exempt financing and economic development tools. CSCDA recently issued $25,663,000 in tax-exempt bonds for the Delta View Apartments in Antioch.
Financial Solutions for CA Cities
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