The Middle Class Scholarship Act, a package of bills that aim to reduce college expenses for middle-income students, failed in the state Legislature today.
The first part of the act, introduced by Speaker of the Assembly John Pérez (D-Los Angeles) earlier this year, creates a scholarship program for students whose families earn less than $150,000 annually. It passed the state legislature in May.
The second part of the legislation would eliminate a measure that allows multi-state corporations to choose the basis on which they pay taxes, most likely increasing taxes paid by the corporations to the state. It would funnel the money toward the scholarship program. It passed in the State Assembly last month, but failed to garner a two-thirds majority vote on the state Senate floor this morning.
Both bills needed to pass the legislature and be signed by Gov. Jerry Brown for the entire act to take effect.
Gov. Brown issued a statement today, acknowledging Pérez’s efforts.
“Speaker Pérez deserves special credit for leading the way to end tax loopholes and fund middle-class scholarships,” Brown said in the statement. “We’re not finished yet and we’re going to work together to get it done.”
The bill can be re-introduced in the Legislature when state lawmakers return from recess in January 2013 and will need to go through both the state Assembly and the Senate again to go into effect.
Compiled by Katherine Hafner, Bruin senior staff.