Today the Legislature held their last floor session before breaking for a one-month summer recess. This was the best opportunity for the Legislature to pass a bill to address the issues created by AB 195 (Obernolte) in time to protect all bonds on the November 2018 ballot. Unfortunately, neither the Senate nor Assembly took action today on a bill to give that protection. The Legislature is still exploring possible options for early August action that could help some of the November bonds.
Budget trailer bill SB 863 would provide a two-year suspension to AB 195’s provisions for local bonds, allowing time to pursue a permanent policy resolution through the regular legislative process next year. The Legislature was awaiting assurance from the Governor that he would sign SB 863 before putting the bill up for a vote. As of this morning, legislative leadership had not received that confirmation and therefore did not feel comfortable sending the bill to the Governor.