Considering Changes to Streamline Local Housing Approvals

May 17, 2016 - In California, many cities and counties find that housing developments lead to more local costs than offsetting tax revenues. This is because these properties do not produce sales or hotel tax revenues directly and the state ’s cities and counties typically receive only a small portion of the revenue collected from the property tax.
https://lao.ca.gov/Publications/Report/3470

Proposed Reserves in the Governor’s May Revision

May 17, 2016 - Since the Governor released his budget proposal in January, the administration has revised its estimate of personal income taxes resulting from capital gains income in 2015 through 2017. This results in lower BSA deposit estimates for 2015-16 and 2016-17.
https://lao.ca.gov/Publications/Report/3463

May Revision 2016: Revenue Outlook [EconTax Blog]

May 16, 2016 - For 2014-15,  we estimate  that the combined revenues of the General Fund ’s four largest tax sources (PIT, sales taxes, corporation taxes, and insurance taxes) are $210 million more than the administration currently estimates for 2014-15.
https://lao.ca.gov/LAOEconTax/Article/Detail/186

May Revision 2016: Economic Outlook [EconTax Blog]

May 15, 2016 - Follow @LAOEconTax on Twitter for regular California economy and tax updates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/185

The 2016-17 Budget: Initial Comments on the Governor’s May Revision

May 15, 2016 - In addition, the MCO tax package prefunds retiree health benefits on a one-time basis and includes ongoing tax relief for certain MCO-related taxpayers. In 2016-17, spending associated with these commitments (including the tax relief) totals about $1 billion.
https://lao.ca.gov/Publications/Report/3460

The 2016-17 Budget: Initial Comments on the Governor’s May Revision [Publication Details]

May 15, 2016 - Nevertheless, estimated tax revenues continue to exceed proposed spending in 2016-17, which would facilitate total reserves ending 2016-17 at $4 billion above the level assumed in the state's 2015-16 budget plan.
https://lao.ca.gov/Publications/Detail/3460

Administration’s Cap-and-Trade Report Provides New Information, Raises Issues For Consideration

Apr 15, 2016 - Such an approach would give the Legislature greater flexibility to use the revenue to (1) prov ide rebates or tax reductions that offset the costs that would be incurred by households or businesses and/or (2) fund projects that promote the Legislature ’s highest priorities.
https://lao.ca.gov/Publications/Report/3445

Options for Modifying the State Child Care Tax Credit

Apr 7, 2016 - Expanding the tax credit would relieve some of the cost of raising children. Decision Points The Supplemental Report of the 2015–16 Budget Package stated the Legislature’s intent to provide a refundable child care tax credit to low– and middle–income families.
https://lao.ca.gov/Publications/Report/3417

Options for Modifying the State Child Care Tax Credit [Publication Details]

Apr 7, 2016 - Options for Modifying the State Child Care Tax Credit [Publication Details] Options for Modifying the State Child Care Tax Credit Format: HTML Description: The Child and Dependent Care Expenses Credit (“child care tax credit” or “credit”) is a provision of the state income tax code that allows filers with income below $100,000 to reduce their tax liability by a percentage of their eligible child care expenses.
https://lao.ca.gov/Publications/Detail/3417

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Apr 4, 2016 - These leave cash outs are subject to Medicare payroll taxes but do not affect employees ’ pension benefits. The administration assumes that departments would absorb these costs within existing departmental resources.
https://lao.ca.gov/Publications/Report/3409