[3:45 pm update] Whoa there! We just got sent a document titled “Revenues From Development of California Oil Reserves” which is not on the agenda, is not in the proposed tax package and is not on the commission’s web site. It doesn’t say who it came from although it is likely the result of a request by commissioner Michael Boskin of Hoover Institution and — note this — a member of the board of Exxon Mobil (psst was this disclosed?).
Proposal: The state should permit additional offshore oil leases, under strict environmental safeguards, with royalty revenues going to a reserve fund to be used for specific limited purposes.
Rationale: The development of additional oil resources would expand the domestic oil supply, while providing tens of billion of dollars of revenue to the state over a number of years.
[3 pm update below] Gerald Parsky, the Republican bigwig appointed by the governor to run the Commission on the 21st Century Economy, has broken his promise to have proposed legislation available for public review 72 hours before the commission meets Thursday in LA.
The materials weren’t even available 48 hours before Thursday’s 11 a.m. meeting. [UPDATE: A batch of documents, including some draft legislation, were posted on the commission’s site and sent to fellow commissioners at about 12:20 pm on Wednesday — less than 24 hours before the meeting where commissioners are expected to consider completely restructuring California’s taxes.] So what does that mean — besides being a violation of the Brown Bagley-Keene Open Meeting Act? It means Parsky is planning to do exactly what Calbuzz warned against: after leadin’ the commission down a box canyon, he’s aimin’ to bushwhack ‘em.
Hey pilgrim — you don’t get to propose a wholesale restructuring of the California tax code without giving the public – and your fellow commissioners — a chance to study the proposals. Who do you think you are — some arrogant, Nixonian gasbag who can run roughshod over the rest of us?
Here’s a more reasoned — less angry — critique by Timm Herdt in the Ventura County Star.