May Revise Friday

The clock is ticking down toward the May Revise deadline. It is a tradition that after his January budget proposal for the following fiscal year, the governor - taking account of later data and projections (and political considerations) - comes up with a revised budget plan in mid-May. The January proposal already included a "deferral" of the increase for UC due under the so-called compact with the governor.

There is a schedule which puts the deadline for the May Revise for fiscal year 2024-25 as May 14, i.e., next Tuesday.* According to the Sacramento Bee, the May Revise presentation will be on this Friday,** May 10, ahead of the deadline. Presumably, something will be said about whatever the governor proposes at the upcoming Regents meetings next week.

Tomorrow, the state controller will release figures for cash receipts through April - normally the big receipt month since personal income taxes are due. That will provide yet another data point.

We await. 

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*https://rrnetwork.org/policy/key-dates.

**https://www.sacbee.com/news/politics-government/capitol-alert/article288392160.html.