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- Written by: Elizabeth Larson
At the same time, the committee reaffirmed its continuing legislative priorities will remain promoting housing for lower income families and individuals and preserving and rehabilitating existing governmental assisted housing for lower income individuals and families.
“Housing is one of my top priorities,” Treasurer Ma said. “In concert with the governor’s priorities, we need to work together to meet the state’s goals and keep moving forward.”
The higher bond cap for private activity bonds was predicated on an increase in population following a formula set by the federal government. Private activity bonds are used to finance various types of facilities owned or used by private entities, including water and sewer facilities, manufacturing plants, certain residential rental projects, and mortgage loans to finance owner-occupied residential property.
The committee voted to allocate 65.16 percent of the bond cap to affordable multifamily housing projects and 7.55 percent of the cap to projects benefitting first-time homebuyers. Allocations also were assigned to industrial (manufacturing) developments (0.24 percent) and exempt facilities projects overseen by the California Pollution Control Financing Authority (7.05 percent).
The state treasurer’s office has two affordable housing investment programs for developers that benefit low-income Californians and that draw on the allocations established by the committee.
CDLAC manages the state’s tax-exempt bond allocations for affordable housing projects and the Single-Family First-Time Homebuyer Program. In 2018, CDLAC’s allocation for tax-exempt bonds helped to finance more than 15,000 units of housing and 40 percent of these projects were new construction.
Another program offered by the treasurer’s office is the California Tax Credit Allocation Committee (CTCAC), which administers the federal and state Low-Income Housing Tax Credit Programs. In 2018, CTCAC’s three Federal Credit Awards programs provided financing for nearly 19,000 low-income housing units.
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- Written by: California Farm Bureau
The Agricultural Worker Program Act, introduced by Sen. Dianne Feinstein, D-Calif., and Rep. Zoe Lofgren, D-San Jose, would grant legal “blue card” status to immigrants who have worked in agriculture for at least 100 days during the previous two years.
CFBF President Jamie Johansson said the bill addresses a critical component of comprehensive immigration reform.
“We’re encouraged by the bill’s introduction in both chambers and appreciate the leadership of our California legislators to begin tackling this issue at the beginning of the new Congress,” Johansson said. “Farm employees and farmers need legislation that addresses legal status for employees and their immediate family members who are in the country now.
“Though this legislation is an important first step, CFBF supports comprehensive immigration reform that would allow future employees to migrate more easily to and from their home country, as well as to move from farm to farm for employment,” he said.
“We encourage Congress to address the broader needs of farmers and their employees through comprehensive immigration reform,” Johansson said.
The California Farm Bureau Federation works to protect family farms and ranches on behalf of nearly 36,000 members statewide and as part of a nationwide network of nearly 5.6 million Farm Bureau members.
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- Written by: California Department of Insurance
SACRAMENTO – Insurance Commissioner Ricardo Lara announced new members of his executive team, including the first Latina chief deputy in the history of the Department of Insurance.
The new executive team members join an existing leadership team that oversees the nation’s largest state consumer protection agency. Commissioner Lara swore in the new members after taking office on January 7.
“I am proud of naming our first Latina chief deputy in the Department’s history because I believe all levels of government should reflect California’s diverse communities,” said Commissioner Lara. “Our team will embrace innovation, with the first in the nation executive-level position engaging the insurance industry in the fight against climate change. Protecting California’s consumers demands we confront the growing threats from wildfires, fraud, and the rising cost of health care in partnership with the Governor and Legislature.”
Chief Deputy Catalina Hayes-Bautista joins the Department of Insurance after serving as Deputy Legislative Affairs Secretary in the Office of Governor Edmund G. Brown, Jr. She previously served as Deputy Secretary for Legislative Affairs at the California Environmental Protection Agency, was a principal consultant in the Office of Speaker Toni Atkins, served as Legislative Director in the Office of California State Senator Ricardo Lara, and as Legislative Aide in the Office of California State Assemblymember Fiona Ma.
Senior Deputy Commissioner and Legislative Director Michael Martinez rejoins the Department of Insurance, where he served as Deputy Insurance Commissioner and Legislative Director under Insurance Commissioner Dave Jones. He was previously a Deputy Legislative Affairs Secretary and Deputy Appointments Secretary in the Office of Governor Brown.
Michael Peterson will serve as Deputy Commissioner for Climate and Sustainability, the nation’s first executive-level position focused on engaging the insurance industry in the fight against climate change. He previously served as legislative consultant to Senator Lara, focusing on climate change, natural resources and energy policy, and as a consultant for the California State Senate Committee on Natural Resources and Water.
Director of Community Outreach Julia Juarez will lead the Department’s engagement with California communities. She previously served as District Director for Senator Lara when he represented the 33rd Senate District.
Special Assistant David Green joins the Department after serving in the Capitol office of Senator Lara.
Michael Soller will serve as Deputy Commissioner for Communications and Press Relations (Northern California). He previously served as Communications Director to Senator Lara and as Communications Director for the California Democratic Party under former Chairman and Senate President pro Tempore-Emeritus John Burton.
Commissioner Lara is the eighth Insurance Commissioner of California since voters created the position in 1988, and the first openly LGBTQ person to be elected to statewide office in California.
The more than 1,300 employees of the Department of Insurance work to protect Californians from unfair insurance practices and fraud, preserve communities and businesses, and prevent losses through innovative approaches. Learn more at http://insurance.ca.gov .
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- Written by: AAA
Despite owning the unfortunate title of most expensive gas, prices in the Golden State have dropped considerably over the last two months.
The average price of gasoline in California was $3.27 as of late Monday, 13 cents cheaper than last month, and nearly 50 cents cheaper than the beginning of November.
"Californians are paying more for gasoline than anywhere else in America, including Hawaii. That can be frustrating for motorists, especially those with longer commutes," said Michael Blasky, a spokesman for AAA Northern California. "But gas prices are much cheaper than 60 days ago, when many Bay Area stations flirted with $4 gasoline."
Gas prices have been steadily falling across the country since November, when the global price of oil suddenly took a dive.
Wall Street investors had driven the price of oil higher by betting that renewed U.S. sanctions against Iran, a top oil producer in the world, would cause oil demand to rise.
But demand for oil and gas has actually fallen in the last two months, with some analysts on Monday predicting an economic slowdown based on forecasts coming from countries like China.
"If global demand for oil falls in the future, that would likely bring gasoline prices down even further. But right now, demand for energy remains very strong across the world," Blasky said.
AAA’s Fuel Gauge Report is the most comprehensive retail gasoline survey available, with over 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express LLC.