This ordinance allows San Francisco to use interest earned from the Early Care and Education Commercial Rents Tax to help fund early care and education programs in the fiscal years 2024-2025 and 2025-2026. It modifies the existing funding requirements to support these programs more effectively.
Ordinance modifying the baseline funding requirements for early care and education programs in Fiscal Years (FYs) 2024-2025 and 2025-2026, to enable the City to use the interest earned from the Early Care and Education Commercial Rents Tax for those baseline programs.
How it got here
The legislation originated from the need to modify funding requirements for early care and education programs in San Francisco, prompted by the financial constraints faced by the city.
Proposition C was approved, imposing a tax on commercial rents to fund early care and education programs, requiring the city to maintain a baseline funding level.
The Board enacted an ordinance allowing the city to temporarily modify baseline funding requirements for early care and education programs to credit interest earned from the Babies and Families First Fund.
The Mayor's Office submitted the proposed budget and related legislation, including the ordinance to modify baseline funding requirements for early care and education programs.
The committee discussed the proposed ordinance, which aimed to allow the city to use interest from the Early Care and Education Commercial Rents Tax to meet funding requirements.
The committee amended the ordinance and recommended it for approval, limiting the scope to Fiscal Years 2024-2025 and 2025-2026.
The Board continued the ordinance on first reading, allowing for further discussion.
The ordinance was finally passed by the Board, modifying the baseline funding requirements for early care and education programs.
Reconstructed from attached documents & the official record
This ordinance allows San Francisco to use interest earned from the Early Care and Education Commercial Rents Tax to help fund early care and education programs in the fiscal years 2025-2026 and 2026-2027. It modifies the existing funding requirements to support these programs more effectively.
