Senate Republican Leader Bob Huff (R-Diamond Bar) issued the following statement after the Legislature voted to pass Assembly Bill 701, which corrects a funding dispute over how Orange County receives its share of the California Vehicle License Fee Adjustment Amount (VLFAA) formula.
“I am pleased that this dispute between Orange County and the State of California has been worked out,” Senator Huff said. “I was honored to be a co-author of this legislation that restores critical county funds and prevents drastic budget cuts. We’ve provided certainty to Orange County while also stabilizing the County’s status with the rating agencies.”
Under AB 701, the state will allocate $53 million to reset the issue and give the county six years to repay debt to the state. Further, Orange County will now get a formula-based dollar-for-dollar disbursement of the state’s VLFAA funds like other counties. AB 701 now goes to the Governor for further action.
Source: State Senator Bob Huff