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May 2020

Proposition 98 Overview

Comparing LAO Spring and Administration's May Revision Estimates of the Guarantee

(In Millions)

      LAO Spring Outlook   Difference From May Revision
  May Revision   U-Shaped Scenario L-Shaped Scenario   U-Shaped Scenario L-Shaped Scenario
2018-19 $78,740   $78,508 $78,508   -$231 -$231
General Fund 54,746   54,493 54,493   -252 -252
Local property tax 23,994   24,015 24,015   21 21
               
2019-20 $77,374   $78,328 $77,846   $954 $473
General Fund 52,352   53,370 52,926   1,018 574
Local property tax 25,022   24,958 24,921   -64 -101
               
2020-21 $70,490   $73,884 $69,100   $3,395 -$1,390
General Fund 44,872   48,031 43,318   3,159 -1,553
Local property tax 25,618   25,853 25,782   235 164
               
Three-Year Totals $226,603   $230,720 $225,455   $4,117 -$1,148
General Fund 151,969   155,893 150,737   3,924 -1,232
Local property tax 74,634   74,827 74,718   193 84