Long Beach Report on AB 155--Shades of Deja Vu--4/28/09

www.LBReport.com


(April 27, 2009) -- Assemblyman Warren Furutani (D., Carson-LB) has signed-on as co-author on a bill that would make it harder for cities to seek bankruptcy protection that might free them (and taxpayers) from current contracts that city politicians made with public employee unions.

AB 155, authored by Assemblyman Tony Mendoza (D., Norwalk), would prohibit local government entities from filing under federal bankruptcy law unless approved by the CA California Debt and Investment Advisory Commission (CDIAC)...which is comprised of the State Treasurer, and other members including the State Controller, the Governor, two members each from the Senate and Assembly, and two local government officials).  LINK to rest of article

 
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