Senate President Pro Tem Darrell Steinberg, D-Sacramento, raised some eyebrows when he proposed a bill that would boost schools by having the private sector invest in "social investment bonds" that would give an economic incentive for funding social goals. Corporations get a payoff if their contribution raises academic performance.
A joint hearing of the committee on Business, Professions And Economic Development and the Select Committee On Procurement today is examining the potential of other "socially innovative financing" plans.
Witnesses will include Ian Galloway from the Federal Reserve Bank of San Francisco; professor Jeffrey Liebman of Harvard's Social Impact Bond Technical Assistance Lab; and a beamed-in representative of the White House's Office of Social Innovation and Civic Participation. From 2 to 5 p.m. in room 4203.
VIDEO: Gov. Jerry Brown is making a big strategic bet in his high-stakes prison crowding poker game, Dan Walters says.
APPROPRIATIONS AGENDA: The Senate Appropriations Committee is running through a few dozen bills today. One worth paying attention to is AB 711, legislation by Assemblyman Anthony Rendon, D-Lakewood, to prohibit lead ammunition. The legislation is a priority for animal rights advocates, who say lead bullets can poison wildlife, and has drawn opposition from the firearms and shooting sports organizations.
TEACHERS UNION TRAINING: The arrival of summer means it's time for those of us on an academic schedule to adjust. For some members of the California Federation of Teachers, that will entail a visit to "CFT Union Summer School" to learn organizing and collective bargaining techniques. The weeklong labor training retreat starts today and takes place at the idyllic Asilomar Conference Grounds on the Monterey Peninsula.
PHOTO: One of the last light-rail trains for the night passes the California Capitol building on Wednesday, Aug. 29, 2012. The Sacramento Bee/Hector Amezcua.