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Financing the Golden State
Learning Objectives
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After reading Chapter 14 in the textbook, you should be able to:
- describe and discuss the budgetary process, including the concepts of appropriations, the item veto, and the “May revise”,
- describe the sources of revenue for the state,
- describe the roots of Proposition 13 and its impact on the state, and
- discuss the future challenges of financing the state of California.
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