Legislative Analysts Oppose AB 523 – Warn that KOCE bill could be a “Gift of Public Funds”
Every piece of legislation that comes up for a vote in the legislature is analyzed by consultants on both the Republican and Democrat sides of the isle. This review and summary of a bill help legislators to sort out the good from the bad.
Well, it is no wonder why Republicans are distancing themselves from Assembly Bill 523, by LA Democrat Carol Liu, that would allow the Coast Community College District to sell their television station (KOCE) to KOCE’s Foundation for millions under top market value. Current law prohibits that, but now the district, helped by Liu (who isn’t even from Orange County) are working an end-run around the law, by trying to ‘sneak through’ legislation that, literally, only applies to this one instance, and would specifically allow the station to be sold at less than market value.
Well, the experienced analysts for Senate Republicans looked at this bill and they have some very serious concerns that this bill could in fact allow for a "gift of public funds" by allowing a government asset to specifically be sold at less than market value, and therefore the proposed law if enacted could very well be a… Read More