It involves only $600,000 — at least for now — and is buried deep in the 1,069-page state budget bill that was introduced June 8. The new provisions stand in sharp contrast to the original ballot initiative that created CIRM, Proposition 71 of 2004. The amount involved in this year’s state budget, which must be passed by July 1, is financially microscopic. The same can be said of the $15 million, which is hardly even a rounding error in terms of the $301 billion state budget. The final machinations involving this year’s state budget are conducted behind closed doors.

Source: Los Angeles Times June 15, 2022 00:11 UTC