First Take: Karen Bass set to make it official. Gavin Newsom may be eyeing a new job. Dianne Feinstein says no.

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Assembly Speaker Karen Bass (D-Los Angeles) is expected to officially announce her candidacy for retiring Rep. Diane Watson’s seat, with Watson on hand to lend her support.

San Francisco Mayor Gavin Newsom is also contemplating his political future and could file papers as soon as Wednesday to launch a bid for lieutenant governor.

One person who won’t be filing campaign paperwork this year is Sen. Dianne Feinstein. The perennial almost-ran gubernatorial candidate made it official Tuesday: She will not run for governor in 2010.

A new study on the therapeutic value of marijuana conducted by the University of California is set to be released in Sacramento on Wednesday morning. Also Wednesday, members of a pro-Jerry Brown independent expenditure committee are scheduled to open up their war room to reporters and unveil a new radio ad attacking Republican Meg Whitman.

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