what is the cola for california?

The Governor has expressed interest in redirecting unused jail bonds to purchase or renovate community mental health facilities. Additionally, it's rare to see COLA used when prices drop, a situation known asdeflation. The Governor proposes $750million to continue the Homekey Program administered through the Department of Housing and Community Development (HCD). LAO Comment: Legislature Could Consider Alternative Targeting of Refunds. We recommend the Legislature approve the Governors proposal to credit districts with the higher of their current year, prior year, or average of three prior years for purposes of their LCFF allocations. Although the state economy abruptly ground to a halt in the spring with the emergence of COVID-19, it has experienced a quicker rebound than expected. GOBiz = Governors Office of Business and Economic Development. The May Revision notes that the 6.56% COLA would be the largest since the LCFF was implemented. Increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022. Advocacy group The Senior Citizens League (SCL) has estimated a COLA increase for 2023 of 8.7%, which would equate to a $144.10 increase for the average retiree. Would early action allow individuals experiencing homelessness move in earlier than they otherwise would? This overlap is understandable given that the final details of the federal package were only known as the administration was cementing its budget proposal. Although districts are insulated from these declines in 202122, they would experience notable declines in funding to the extent attendance remains at lower levels in 202223. For 202122, the guarantee is up an additional $3billion (3.6percent) relative to the revised 202021 level. To understand how the proposal would impact school districts in a normal year, we simulated LCFF funding levels for 201920 as though the proposal had been in place for several years. These include union agreements, executive contracts, and retiree benefits. COLA Likely to be Higher in May The federal government released additional data used to calculate the COLA on January 27. However, certain details will be important for the Legislature to evaluate each proposal. The Governor proposes a total of $336million in additional ongoing funding for the California State University (CSU) and the University of California (UC). National Committee to Preserve Social Security Medicare. Sales Tax Exemption. The administration proposes $256million one time from the General Fund to assist local governments with emergency response and recovery through CDAAa $155million increase over the amount budgeted for 202021. Cost of Living Adjustments (COLA) - Los Angeles City Employees

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