June 3, 2016
By Rebekah Cearley
On Thursday, June 9, 2016, the Legislature and Governor announced the framework for a deal on the FY 2016-17 budget. Some details are still being refined, and the deal still must be approved by both houses of the Legislature. We expect the Legislature to take up the budget bill and related trailer bills in time to meet the June 15 constitutional deadline. The deal reflects one of the Governor’s top priorities, placing an extra $2 billion into the state’s Rainy Day Fund. The deal also addresses one of the Legislature’s top priorities by including $400 million for affordable housing, tied to future regulatory reform.