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California Seeks Ruling to Use Development Funds for Budget

From Bloomberg Businessweek:

 

California, seeking to avoid a shortfall in money for schools, roads and fire departments, asked the state’s highest court to uphold two laws allowing it to seize $1.7 billion from state redevelopment agencies.

 

The agencies, which have grown to control billions of public dollars while money for schools and fire protection dropped, are a luxury that California, facing the largest budget gap in its history, can’t afford, state lawyers said in court filings. The redevelopment program was created by the Legislature and can be voided by lawmakers, they said.

 

“They may change the rules, they may change the redevelopment scheme,” California Deputy Attorney General Ross Moody said at a hearing today before the San Francisco-based court. “That’s what they have done here.”

 

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