Join Me for a ZOOM Town Hall on California’s Fiscal Health with State Controller Betty T. Yee!

Join me on Wednesday, May 6, 2020 at 4:00 p.m. for a Virtual Town Hall on California’s Fiscal Health with California State Controller Betty Yee!

As a member of the Irvine City Council, I have made it a priority to support local business and ensure that our government operates with fiscal responsibility, openness, and transparency.

I’ve received the Orange County Taxpayers Watchdog Award for “demonstrating dedication to the protection of taxpayer funds and for the advocacy of government transparency and fiscal responsibility.”

Under my leadership, the Irvine Community Land Trust has received the Platinum Seal of Transparency from GuideStar, the world’s most respected source of information on nonprofit organizations.

I was also the only member of the Irvine City Council to oppose Measure D, which would have eliminated voter input into development decisions, because I believe that citizens must have a strong voice in deciding the future of their neighborhoods.

I enthusiastically supported the City’s adoption of the Irvine Sunshine Ordinance, which expanded public notice to four times longer than California law requires and prevents government action without full and informed participation from the community. I also supported approval of a two-year budget cycle, along with a five-year financial planning program, to bring more accountability to government spending.

I’ve often said that Government transparency and fiscal responsibility should be neither a conservative nor a liberal idea, but appeal to both, as we strive to address increasing social needs with limited resources.

The economic distress caused by COVID-19 will make this important task even more difficult.

COVID-19 has already impacted every facet of California’s economy, including the fiscal health of California’s government institutions, from large state agencies to cities and school districts. 

That’s why it will be especially valuable to hear from California State Controller Betty T. Yee on California’s fiscal health.

State Controller Betty T. Yee was elected in November 2014, following two terms of service on the California Board of Equalization. As Controller, she continues to serve the Board as its fifth voting member. Reelected for a second term as Controller in 2018, Ms. Yee is only the tenth woman in California history to be elected to statewide office.

As the state’s chief fiscal officer, Ms. Yee chairs the Franchise Tax Board and serves as a member of the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) Boards. These two boards have a combined portfolio of more than $620 billion.

Ms. Yee has more than 35 years of experience in public service, specializing in state and local finance and tax policy. Ms. Yee previously served as Chief Deputy Director for Budget with the California Department of Finance where she led the development of the Governor’s Budget, negotiations with the Legislature and key budget stakeholders, and fiscal analyses of legislation. Prior to this, she served in senior staff positions for several fiscal and policy committees in both houses of the California State Legislature. She also co-founded the Asian Pacific Youth Leadership Project, which exposes California high school youth to the public service, public policy, and political arenas.

A native of San Francisco, Ms. Yee received her bachelor’s degree in sociology from the University of California, Berkeley, and she holds a master’s degree in public administration.

What: Virtual Town Hall on COVID-19 and California’s Fiscal Health with California State Controller Betty T. Yee.

When: Wednesday, May 6, 2020 at 4:00 p.m.

Where: On-line at ZOOM Meeting ID 951-321-0807

To see the Facebook page for this event, click here.

For more information, contact Allison Binder at abinder@cityofirvine.org.

 

California Extends Tax Deadline to July 15, 2020, for Payments Due of Up to $10 Million for Corporations and $1 Million for Individuals

Today, California State Controller Betty T. Yee issued the following statement regarding California taxes, extending the deadline to July 15, 2020, for payments due of up to $10 million for corporations and up to $1 million for individuals:

California State Controller Betty T. Yee

“Please note after yesterday’s Internal Revenue Service (IRS) announcement, California is postponing tax deadlines until JULY 15, 2020, due to the COVID-19 pandemic.

This update SUPERSEDES the California Franchise Tax Board’s (FTB’s) previous announcement that extended the due dates for filing and payment of taxes until June 15, 2020.

To align with the IRS special tax relief, I have authorized FTB to postpone until July 15, 2020, the deadline to file and pay taxes owed for all individuals and business entities for:

  • 2019 tax returns
  • 2019 tax return payments
  • 2020 first and second quarter estimate payments
  • 2020 LLC taxes and fees
  • 2020 non-wage withholding payments

Note: The IRS special tax relief extends the deadline to July 15, 2020, for payments due of up to $10 million for corporations and up to $1 million for individuals — regardless of filing status — and other unincorporated entities. The FTB special tax relief does not include these limitations.

The COVID-19 pandemic is disrupting life for people and businesses statewide. Hopefully, this small measure of relief will help allow people to focus on the health and safety of themselves and their family’s during these challenging times.

For more information about federal filing of returns and payment of taxes owed, visit irs.gov.

For more information about state filing of returns and payment of taxes owed, visit ftb.ca.gov.

For updates and information about the COVID-19 pandemic, visit covid19.ca.gov.

Thank you for your actions to help with curbing the spread of COVID-19. Together, we are #californiastrong.

Sincerely,

Betty T. Yee

California State Controller”

For a complete list of measures in effect in the City of Irvine and for regular updates on this rapidly evolving situation, visit cityofirvine.org.  See also:

Irvine Proclamation of Emergency for City of Irvine COVID-19

Irvine Coronavirus Emergency Measures

Please also see my earlier posts related to COVID-19:

Irvine Community Centers Closed to the Public Due to COVID-19

Orange County’s Amended Order Re COVID-19 (March 18, 2020)

City of Irvine Leaders Close City Hall, Proclaim Local Emergency in Response to COVID-19

New Statement of the Orange County Health Officer Re COVID-19 (March 17, 2020)

California State Tax Deadline Extended to June 15 Due to COVID-19 Pandemic

Irvine Schools Providing Lunches for Students During COVID-19 Closure

Irvine City Council Issues Response to Coronavirus Outbreak

California Financial Support for Employers and Employees Affected by the Coronavirus

We’re All in this Together. The Coronavirus Doesn’t Discriminate. Neither Should We.

Consult these additional resources for up-to-date information.

 

California State Tax Deadline Extended to June 15 Due to COVID-19 Pandemic

The California Franchise Tax Board (FTB) has announced special tax relief for California taxpayers affected by the COVID-19 pandemic.  Affected taxpayers are granted an extension to file 2019 California tax returns and make certain payments until June 15, 2020, in line with Governor Newsom’s March 12 Executive Order.

“During this public health emergency, every Californian should be free to focus on their health and wellbeing,” said State Controller Betty T. Yee, who serves as Chair of FTB. “Having extra time to file their taxes helps allows people to do this, as the experts work to control the spread of coronavirus.”

This relief includes moving the various tax filing and payment deadlines that occur on March 15, 2020, through June 15, 2020, to June 15, 2020.

This includes:

  • Partnerships and LLCs who are taxed as partnerships whose tax returns are due on March 15 now have a 90-day extension to file and pay by June 15.
  • Individual filers whose tax returns are due on April 15 now have a 60-day extension to file and pay by June 15.
  • Quarterly estimated tax payments due on April 15 now have a 60-day extension to pay by June 15.

Any taxpayer filing under this special deadline relief should note the name of the state emergency (e.g., “COVID-19” or “Coronavirus”) in black ink on the top of the tax return to inform FTB that you are filing under the special extension period. If taxpayers are e-filing, they should follow the software instructions to enter disaster information.

The FTB also announced that it will waive interest and any late filing or late payment penalties that would otherwise apply.

Please note that the Internal Revenue Service (IRS) has not yet acted on extending the April 15th filing deadline for federal income tax returns. The FTB’s June 15 extended due date may be pushed back even further if the Internal Revenue Service grants a longer relief period.

FTB administers two of California’s major tax programs: Personal Income Tax and the Corporation Tax. FTB also administers other non tax programs and delinquent debt collection functions, including delinquent vehicle registration debt collections on behalf of the Department of Motor Vehicles, and court–ordered debt. Annually, FTB’s tax programs collect more than 70 percent of the state’s general fund. For more information on other taxes and fees in California, visit: taxes.ca.gov.

Please also see my earlier posts related to COVID-19:

Irvine Schools Providing Lunches for Students During COVID-19 Closure

Irvine City Council Issues Response to Coronavirus Outbreak

California Financial Support for Employers and Employees Affected by the Coronavirus

We’re All in this Together. The Coronavirus Doesn’t Discriminate. Neither Should We.

Consult these additional resources for up-to-date information.

My Trip to Sacramento to Advocate for OC Cities and Affordable Housing

I recently joined other Orange County elected officials on the annual Local Government Advocacy Trip to Sacramento with the Association of California Cities — Orange County (ACC-OC), meeting with state elected officials, department directors, and executive staff to advocate for positions on bills, discuss  Orange County’s regional priorities, and represent the voice of Orange County cities.

Among the issues we discussed were building more affordable housing, increased regulation and better supervision of sober living homes, solutions for homelessness, and reforms of the sales tax.

Among the state officials and legislators that I met with were California State Controller Betty T. Yee, Board of Estimate Member Fiona Ma, Senator Jim Beall (Chair, Senate Housing Committee), Senator John Moorlach (37th Senate District, which includes portions of Orange County), Senator Steve Glazier (Senate Committee on Jobs and Economic Development), Senator Scott Weiner (Senate Housing Committee), Assemblymember David Chiu (Assembly Housing Committee), and Susan Bransen (Executive Director, California Transportation Commission).

Melissa Fox with Dirissy Doan (Orange County Assn of Realtors) and Assemblymember Sharon Quirk-Silva (D- AD 65) in Sacramento.

Following the ACC-OC trip, I remained in Sacramento to attend the Housing California Annual Conference and to meet with legislators on behalf of the Irvine Community Land Trust, of which I am the Vice Chair.

The Irvine Community Land Trust (ICTL) was created by the City of Irvine to provide secure, high-quality affordable housing through the operation of a non-profit community land trust, securing and retaining title to land on which permanently affordable rental, ownership and special needs housing will be constructed and maintained for the benefit of income-eligible families.

The vision of the ICLT is that by the year 2025, the ICLT will have created approximately 5,000 units of permanently affordable housing in the City of Irvine, contributing more than 50 percent of the City’s 2025 goal of 9,700 affordable units. In addition, the ICLT will conduct a monitoring program and provide stewardship for these units, insuring high-quality construction, design, sustainability, maintenance and permanent affordability. ICLT will achieve self-sufficiency by ensuring that fees and other earned income are sufficient to support the organization’s ongoing operating costs.

On behalf of the Irvine Community Land Trust, I meet with Senator Janet Nguyen, Senator Ricardo Lara, Senator John Moorlach, Senator Jim Beall, Senator Bob Hertzberg, Assembly Member Steven Choi, Assembly Member Matt Harper, and Assembly Member Sharon Quirk-Silva about legislation to make it easier to build more affordable housing.

I believe we are making significant progress in creating a more supportive legislative environment for building affordable housing.  Everyone I spoke to in Sacramento — on both sides of the aisle — is keenly aware of California’s severe housing shortage and our state’s growing housing insecurity and homelessness crisis.

I was happy to work with my colleagues in both the ACC-OC and the Irvine Community Land Trust to advocate for legislative reforms that will make it easier to build affordable housing in California, and specifically in Orange County.