Budget UpdateBudget Agreement • June 24th, 2022
Contract Type FiledJune 24th, 2022The Legislature announced a Legislative Budget Agreement on June 1, 2022. The agreement between the Senate and Assembly summarizes the priorities of the Legislature and builds upon the Governor’s Budget Proposals. The specific elements of the agreement will be included in legislation (AB 154 and SB 154) in the coming days and must be passed by the Legislature before June 15, 2022. The legislation must then go to the Governor for his approval before the end of June. Negotiations between the Governor and the leadership of the Legislature will continue until Governor Newsom signs the final version of the budget. The final version of the 2022-23 budget will take effect on July 1, 2022.