This note discusses the complex effects on state budget revenue projections related to the new College Access Tax Credit.
The state's preliminary official statements for bond offerings, such as the planned March 4 general obligation bond sale, contain significant information about the state's finances, including litigation related to state revenues and spending.
We provide some perspectives on California's unclaimed property program as a General Fund revenue source.
On an "apples to apples" basis, a preliminary review of the Governor's January 2015 budget proposal shows that it assumes that the "Big Three" General Fund taxes for 2013-14 through 2015-16 will be $1.3 billion higher than the LAO projected in November 2014.
Proposition 2 sets aside a portion of California's General Fund tax money for 15 years for certain debt payments, including, potentially, payments to reduce the state's large unfunded retiree health liability.
The Department of Finance's Finance Bulletin, today's version of which includes November 2014 revenue data, is the key report on state revenues each month.
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.