A bill that could give higher education funding in California a shot in the arm is currently in committee in the Assembly.
Assembly Bill 656, authored by majority leader Alberto Torrico, D-Fremont, would place a 9.9 percent severance tax on oil and gas extracted in California. According to a statement released by Torrico, the bill would raise approximately $1 billion for the University of California, California State University and California Community College systems.
The California Faculty Association has been collecting pledges in support of the bill since Oct. 12. Roughly 5,000 signatures were collected in the first week alone, according to CFA Communications Director Alice Sunshine.
CFA members spoke and collected pledges at Cal State Long Beach on Tuesday. Sunshine said the events have been successful in raising awareness and collecting signatures.
The bill was first introduced in the Assembly in February and has, so far, passed one of several committees. It is currently in the Assembly Revenue and Taxation Committee.
Sunshine said the required two-thirds vote to pass a budget bill, or a bill that increases taxes in the state, was largely at fault for legislative inaction. She said a small minority is preventing the Legislature from acting on efforts to increase funding to higher education.
Many other states require only a simple majority to pass the budget or new taxes.
Sunshine said the CFA believes AB 656 is important for the innovation that has always been vital to California’s economy.
“Innovation comes in part from innovative industries that require educated workers,” she said.
She said the bill is similar to a law that has existed in Texas for more than 100 years.
Assemblyman Pedro Nava, D-Long Beach, introduced legislation for a similar tax on Monday. His bill calls for a 10 percent tax on oil and gas extracted from the state but does not designate all of the revenue generated toward higher education.