We display the administration's estimates for this revenue source as of January 2017.
This post compares the administration's multi-year forecast revenue estimates with those generated under the LAO May 2016 economic growth scenario through 2019-20. (This does not reflect required transfers to the Budget Stabilization Account under Proposition 2 under the LAO figures, as those estimates are still under development.)
We answer some questions we receive about California's budget and the stock market downturn of recent days.
Over the past several decades, the personal income tax has replaced the sales tax as the main source of the state's General Fund revenue.
Proposition 2, passed by voters in November 2014, includes provisions intended to help manage state budget revenue volatility, principally by requiring certain state revenues to be deposited in budget reserves.