BILL NUMBER: SB 840 VETOED DATE: 09/30/2008 To the Members of the California State Senate: I am returning Senate Bill 840 without my signature. According to the Legislative Analyst's Office, the bill is estimated to cost $210 billion in its first full year of implementation and cause annual shortfalls of $42 billion. To place this in proper perspective - our state budget deficit this year started at $24.3 billion. I cannot support a bill that places an annual shortfall of over $40 billion to our state's economy. Sincerely, Arnold Schwarzenegger