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Bipartisan Team Launches California Pension Reform Ballot Initiative

In November 2014, California State Controller John Chiang published a report calculating the total value of local and state public pension programs’ unfunded pension liabilities. Chiang reported the increase in municipal and state pensions’ liabilities exceeded the rise in assets by $191.7 billion. In 2003, California public pension programs had overpromised benefits by $6.3 billion, or about $178.72 per resident. In 2013, liabilities exceeded assets by $198 billion, or about $5,210.53 per...

Petaluma City Council Plans New Airbnb Regulations, Taxes

Prompted by a group of residents opposed to the popular sharing-economy website Airbnb, the Petaluma, California City Council is finalizing new housing restrictions targeted at making it harder for individuals to host travelers in their homes on a short-term basis. The proposed regulations would limit the number of guests and the number of days an entire house can be rented. The new rules would also raise additional tax revenue for the city. The city council projects the city will receive $85,...

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