A second extension has given to the California Commission on the 21st Century Economy (COTCE). Per a press release by Governor Schwarzenegger, the Commission's report is due September 20, 2009 (rather than July 31). The announcement also states that the legislature will be called into special session to hear the proposals.
It seems that the Commission is focusing on one multi-faceted proposal. A memo from the Commission chair Gerald Parsky notes that there will be two "workshops" on the Business Net Receipts Tax Proposal on August 26 and 28 (no location details are posted to the COTCE website yet). The COTCE will also hold its final meetings in early September (details not posted yet).
The COTCE has considered a variety of problems and fixes for California's troubled tax system. It will be interesting to see what the final proposal is and if it gets anonymous endorsement from all 14 commissioners. I have written a bit about the net receipts tax recently (7/17/09 post). I've written a fair amount about problems with California's tax system and possible solutions - see reports here. Hopefully some of these problems will be addressed without creating new ones. I'll write more soon.
What do you think of the proposals, process, likelihood for reform, etc.?
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