Capitol Alert
The latest on California politics and government
April 28, 2014

Gov. Jerry Brown urged members of the Assembly’s budget panel Monday to support his plan for a new rainy-day reserve before voters in November.

Making a rare appearance before a legislative committee, Brown received a friendly reception from Democrats and Republicans alike during an informational hearing on reserve legislation put forward by Assembly Speaker John A. Pérez, D-Los Angeles.

Brown said his plan would provide “protective restraint.”

“When the rain comes we have to store it,” Brown told the Assembly Budget Committee. “It will pinch to a certain degree, and that is what the goal is.”

The proposal would divert capital gains revenue into a rainy-day reserve when it exceeds 6.5 percent of revenue. It would allow the money to be spent to pay down debt as well as setting aside money to fulfill the state’s constitutional school-funding guarantee. Brown called a special legislative session on the subject earlier this month.

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