Capitol Alert

Moody's Investors Service called the drop in Facebook's share price a "credit negative development" in the wake of a Legislative Analyst's Office report last week on how the company's stock value could impact the state budget.

Facebook closed Monday at $21.92 per share, up from last week, but still 37 percent below the $35 price that state budget writers are counting on when a big round of insider transactions occur in November. The Analyst's Office said last week that if the stock price remains significantly below that $35 mark, the state could miss "hundreds of millions" in tax revenues that it has forecast in the first budget cycle since the Menlo Park company went public in May.

Both the LAO and Moody's noted that even a drop of that size would be less than 1 percent of the state's $91.3 billion general fund budget. And should the share price rise or other income streams strengthen, the state could overcome a stock malaise from the social media giant.

Moody's spokesman David Jacobson said the current share price has no bearing now on the state's A1 stable credit rating, currently second-worst in the nation behind Illinois according to Moody's. But he said a low stock price in November could have a negative effect on the state's credit rating.

"California's personal income tax revenue tends to be volatile because it relies heavily on top earners and those with high capital gains income," Moody's wrote in an update. "At 10.3 percent, the state's top rate for personal income taxes is one of the highest in the country and the state taxes capital gains at the same rate."

Legislation that would require high school coaches to receive training in concussions was sent Monday to Gov. Jerry Brown.

Assembly Bill 1451 cleared its final hurdle Monday in the Assembly, which voted 65-0 to move the bill to Brown.

The measure would require high school coaches to receive training every two years on recognizing the signs of concussions and responding to them appropriately. The training could be acquired through free online instruction.

A study published in the Journal of Athletic Training found that U.S. high schools' two highest rates of concussions per 100,000 player games or practices occur in football, 47, and girls soccer, 36.

Assemblywoman Mary Hayashi pushed AB 1451 through the Legislature in the wake of a separate bill by the Castro Valley Democrat, effective last January, that requires schools to remove from play, pending medical clearance, a student athlete who sustains a possible concussion.

Brown, after receiving AB 1451, will have 12 days to decide whether to sign or veto it. If he does neither, the measure would become law automatically and take effect next January.

A California lawmaker is asking the state to push for a national "lesbian, gay, bisexual, transgender and queer bill of rights."

Assemblyman Ricardo Lara has proposed Assembly Joint Resolution 43, which is scheduled to be considered by the Assembly Judiciary Committee today, marking its first legislative hearing. It was introduced July 2.

The resolution asks Congress and President Barack Obama to add "sexual orientation and gender identity" to statutory non-discrimination safeguards for "race, color, sex, national origin and religion."

Roseanne Barr is running for president... again.

The actress and comedienne won the Peace and Freedom Party's presidential nomination contest at a weekend convention in Los Angeles.

Barr appeared on the California primary ballot as a candidate for the Green Party presidential nomination. She lost that bid to Massachusetts doctor Jill Stein. She has re-registered without a party preference in Hawaii, where she is working to qualify a Peace and Freedom Party, Peace and Freedom Party officer Cat Woods said last week.

Supporters say they hope Barr and vice-presidential pick Cindy Sheehan, an anti-war activist, will attract new members to the party, which could lose its state-recognized status in California as a result of the top-two primary system.

The ticket selected this weekend will appear on ballots in California and Florida.

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Roseanne Barr seeks Peace and Freedom presidential nod

Dan Walters says the last month of the biennial legislative session will be a "madhouse" of California legislators, lobbyists and bills, bills, bills.

Have a question you'd like Dan to answer? Post it on our Facebook page.

See other Dan Walters Daily clips here.

VIDEO: Dan Walters, in today's report, says the "madhouse" that is the last month of the legislative session is fun for political junkies but isn't good for setting policy in California.

They're back: The Senate has a floor session scheduled for noon, and the Assembly is set to gavel in an hour later.

Committee hearings also crank back up today, with the Senate Appropriations Committee meeting at 9 a.m. in the Capitol's Room 4203. Click here for the Senate's daily file, and click here for the Assembly's.

Also cranking back up are political fundraisers, with at least four scheduled today, nine on Tuesday, 10 on Wednesday, six on Thursday, two on Friday, and one on Saturday. Capitol Alert's arithmetic adds those numbers up to 32.

Today's events benefit these candidates:

• Democrat Kevin Mullin, the South San Francisco City Council member running in the San Mateo County-based 22nd Assembly District.
• Democrat Rudy Salas, the Bakersfield City Council member running in the Kern and Kings County-based 32nd Assembly District.
• Madera County Supervisor Frank Bigelow, who's facing fellow Republican Rico Oller in the 5th Assembly District, which sprawls from Placer County to Alpine County and beyond.
• Democratic Sen. Juan Vargas, who's collecting money for his 2010 campaign.

Meanwhile, members of a group calling itself the Occupy Sacramento Foreclosure Team say they're setting up a round-the-clock vigil this morning outside Gov. Jerry Brown's loft at 16th and J streets. As the news release puts it, the group is looking to pressure the governor "to use his executive power to declare a state of fiscal emergency and an immediate foreclosure moratorium." The vigil starts at 9:30 a.m. The group isn't setting an end time.

NEW GIG: StudentsFirst, the education advocacy group headed by Sacramento first lady Michelle Rhee, has a new press secretary for its Western region: Erin Shaw. She has been Republican Sen. Sam Blakeslee's communications director since 2010.

TEA PARTY TALK: Board of Equalization Member George Runner is speaking to the Redding Tea Party tonight about his opposition to the state's new fire fee on rural property owners, which his website on the issue, calfirefee.com, calls a tax. His talk starts at 6 p.m. at Destiny Christian Fellowship, 2570 S. Bonneview Road.