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UPDATE: The state has set the date for California’s recall election targeting Gov. Gavin Newsom.

SACRAMENTO, Calif. (KTXL) — The California Department of Finance finalized the costs Thursday for Gov. Gavin Newsom’s upcoming recall election.

According to Thursday’s release, after consulting with California’s 58 counties and the secretary of state, the state’s top financial agency announced an early special election would cost $276 million.

California Secretary of State Shirley Weber formally certified the recall election Thursday afternoon.

Now, Lt. Gov. Eleni Kounalakis will need to set a date for the election within the next 60 to 80 days.

The Department of Finance said counties initially estimated the recall election would cost them $215.2 million. That figure rose to $243.6 million with Monday’s passage of Senate Bill 152, which altered the rules for the recall election.

But the bill also provides $215.2 million to counties and $35 million to the secretary of state for the costs of the recall election.

Democrats would prefer the recall election be held earlier, rather than roping it in with the next regularly scheduled statewide election.

“This ensures the recall happens as soon as possible, which my belief is that’s what this recall is about is having the recall as soon as possible,” said Assemblymember Phil Ting, D-San Francisco.

If it is part of the next regular election, the Department of Finance said the recall election would cost a total of $90.6 million.