By Justin Smith The California Assembly recently approved AB 155 (Mendoza), a bill that prohibits cities and counties from filing bankruptcy without state approval and is headed to the Senate. The bill requires local governments and counties to get approval from the California Debt and Investment Advisory Commission (CDIAC) before filing for bankruptcy. The California Debt and Investment Advisory Commission consists of the State Treasurer, the Governor or the Director of Finance, the State Controller, two local government finance officials, two Assembly Members, and two Senators. The bill is backed by several unions and the most notable among them is the California Professional Firefigh

It may be the best kept secret in politics: there's a statewide special election on May 19th that could have a greater impact on Sacramento's schools, fire stations, and budget than anything they're doing down at City Hall. This special election is all about the state budget: the gaping $58 billion hole, and how the Governor and Legislature will go about fixing it. It includes new taxes, shifting of funds, the payback of funds to schools, and "modernizing" the state lottery so that it brings in more cash. Led by Sacramento's own State Senate President pro Tem Darrell Steinberg, the California Teachers Association (CTA), and the California Professional Firefighters Association, the pro-re