Assemblymember Das Williams
Nontax revenue for higher education systems being considered
SACRAMENTO — The Assembly Appropriations Committee is studying the potential fiscal impact of a legislative proposal introduced by Assemblymember Das Williams (D-Santa Barbara) that would transfer some state-owned properties to a public trust in order to provide need financial support to the state’s higher education systems, Williams reported Wednesday in a media release.
AB 2442 would establish the California Hope Public Trust, to manage state-owned properties deemed suitable for development with the goal of increasing that value of its holdings and earning revenue for the University of California (UC), the California State University (CSU) and California Community College Systems.
“A world class higher education system is one of the hallmarks of our state’s economy, but to see the carnage our UC’s, CSU’s and Community Colleges have taken, we have some work to get us to the greatness we are capable of. But that can start with finding ways to dedicate funding to continue building upon the world-class public education system right here in California,” Williams stated in the release.
California’s public higher education system, like other areas of the state budget, has experienced devastating cuts in funding in recent years. However, unlike K-12, higher education does not enjoy the same funding mandates and legal protections, he said.
The California Hope Public Trust will be able to evaluate and better utilize state property with the proceeds benefitting the UC, CSU and CCC systems.
For more information, visit: http://assembly.ca.gov/Williams