Saturday, February 4, 2012

California: Governor Brown signs bill that allows state to borrow from itself

California Gov. Jerry Brown signed a bill Friday allowing the state government to borrow from internal funds to build up its cash, which the controller earlier this week said was quickly dwindling. - Reuters/SF Examiner

The legislation allows the state to tap up to $865 million, part of a plan crafted by Controller John Chiang, Treasurer Bill Lockyer and the finance department to address the cash shortage.

Meanwhile, in Wisconsin: State and local savings from the Governor's reforms now top $900 million, and counting.