In response to a reporting requirement in the 2014-15 budget, the State Board of Equalization (BOE) submitted a report to the Legislature. This report describes eleven options for future funding of the cigarette and tobacco licensing program.
The state's Employment Development Department has begun to release January 2015 jobs data for the state and Los Angeles County, with further data releases (delayed by the complex annual "benchmarking process") to follow for other jurisdictions later.
This note discusses the complex effects on state budget revenue projections related to the new College Access Tax Credit.
We discuss the February 18, 2015 cap-and-trade auction.
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.
In response to questions received during a January Senate budget hearing, we examine California's General Fund tax expenditures: tax deductions, credits, exclusions, and the like that reduce revenues below what they would be otherwise.
Since the early 2000s, median housing costs in California have increased faster than median incomes. During the last several years, though, the gap between these two has narrowed. This overall improvement is largely attributable to falling housing costs for homeowners, while the gap between renters' incomes and their housing costs continues to widen.
We provide some perspectives on California's unclaimed property program as a General Fund revenue source.
We consider California's "U-6" unemployment rate, a broader measure of labor force underutilization than the official "U-3" unemployment rate.
A recent report on Silicon Valley discusses the region's economic growth. We consider the role that Silicon Valley, San Francisco, and Marin play in California's main state government revenue source, the personal income tax.
With the upcoming end of the "triple flip," a complex, decade-old mechanism affecting state and local finances in California, we have received several inquiries seeking a basic understanding of what the triple flip is and how its end will work exactly. This note addresses those issues.