Nov. 6, 2014

Issue #104

Editor's Note

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The League’s California Civic Leadership Institute® Graduates Celebrate Assembly Seat Wins

The League is proud to congratulate 10 California Civic Leadership Institute (CCLI) graduates who won their Assembly elections Tuesday. One CCLI alumni race is too close to call at the time of this article’s publication: AD 17 David Chiu (CCLI) v. David Campos.


Local Revenue Measure Results November 2014

The November statewide election included over 400 local measures including 268 seeking approval for taxes or bonds. K-12 school districts and community colleges sought a total of $11.775 billion in 113 separate authorizations for bonds to construct facilities, acquire equipment, and make repairs and upgrades. There were just eight measures to increase or extend school parcel taxes. Preliminary results show 80 percent of school bonds and 70 percent of city general taxes passing. It is expected that more will pass once the final counts are tabulated.

Elections, Revenue and Taxation

November 2014 Midterm Election Wrap-Up

As the ballot dust settles from Tuesday’s election, the mixed bag of results delivered by voters at both the state and national level made for some surprising shake-ups that not even the most seasoned political insider anticipated.

Assembly, Senate, Elections, Federal

Moody’s Upgrades CalPERS After Approval of Stockton Bankruptcy Plan

The Sacramento Bee reported on Wednesday that Moody’s Ratings had issued a statement citing Federal Bankruptcy Court Judge Christopher Klein’s decision last week in the Stockton bankruptcy case as “credit positive” for CalPERS. The Moody’s statement, Approval of Stockton Bankruptcy Exit Plan is Credit Positive for CalPERS, emphasizes the precedent setting nature of Judge Klein’s approval of Stockton’s Chapter 9 plan of adjustment. That plan protected the city’s pension benefits for its employees, which Moody’s says indicates that pensions “will enjoy better treatment than debt in California Chapter 9 cases. If Judge Klein had required the city to include cuts to pensions in the plan, it could have led to other municipalities seeking to reduce pension obligations through Chapter 9,” according to Moody’s.

Pension Reform
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