August 20, 2021
By Mark Sawicki, Director
In June and July, the Legislature adopted, and the Governor signed, two budget bills (AB 128 and SB 129) outlining a record $262 billion budget focused on economic recovery that included $8 billion in stimulus payments; $1.5 billion in cash grants to COVID-impacted businesses; over $6 billion for infrastructure and workforce development; and over $8 billion for affordable housing and homelessness. While the State technically met its deadline to adopt a budget before June 25th, it further refined it in July, but still left many details to be negotiated in subsequent trailer bills being taken up now after the Summer Recess.
With a budget of such magnitude, it is hard to present a sufficient summary with enough detail in the areas that concern our clients the most: economic and workforce development, and housing and homelessness assistance. There are several organizations that track and report on the budget, and also provide a focus into particular areas. We have selected three summaries (with hyperlinks to each) that provide key insights you may be interested in:
- California Budget & Policy Center provides independent nonpartisan fiscal and policy analysis. Their analysis of the 2021-22 State Budget highlights selected elements of the budget that represent significant advancements to improve the lives of Californians with low and middle incomes. The report also highlights areas where the budget framework falls short of this goal and the work still to be done by policymakers to ensure that all Californians can thrive in their communities.
- California Association for Local Economic Development (CALED) is a professional membership of public and private organizations and individuals involved in the business of creating and retaining jobs. CALED prepared an in-depth economic development summary of the 2021-22 Budget that highlights State investments in economic assistance, workforce development, broadband expansion, transportation, housing, and other infrastructure.
- California Housing Consortium (CHC) is a nonpartisan advocate for the production and preservation of housing affordable to low- and moderate-income Californians. Their Policy News website update on the budget provides a brief summary of major new funding for housing.
For more detail on the budget, the State has provided a site with links to individual focused chapters of the Enacted Budget Summary document. If your jurisdiction wants assistance researching funding and programs, or an update on budget trailer bills or housing and economic development legislation, please email us at [email protected].