The proposed finances shrinks California’s preliminary contribution from $30 million to $10 million for the 2025-26 fiscal yr that begins in July.
“The sole reason for the reduction is more limited/fewer resources than projected in the January budget,” mentioned H.D. Palmer, a spokesman for the state Division of Finance. “Now, we will see what the Legislature intends to do.”
Google would pay $15 million into the fund and $5 million to a man-made intelligence accelerator, and add $10 million to “existing journalism programs.” For every of the subsequent 4 years, Google would pay $10 million into the fund and $10 million into the present applications.
Wicks mentioned this week that given the state’s worsening finances outlook, it may have been so much worse.
The lawmaker was anticipated to say extra concerning the journalism funding effort subsequent week.
“She’s been a constant champion for this,” Coffey mentioned. “There wouldn’t have been anything at all. Her fortitude is commendable.”
Initially Revealed: Might 15, 2025 at 4:42 PM PDT
