Home Sales Update: July 2020 [EconTax Blog]

Aug 18, 2020 - California home sales were running at a relatively high level early in the year, then dropped sharply as a result of the COVID-19 pandemic. Sales recovered somewhat in June, and July’s figure of 36,447 was the highest since August 2017.
https://lao.ca.gov/LAOEconTax/Article/Detail/523

California Community Colleges Funding by Source [EdBudget]

Aug 17, 2020 - Colleges must spend all CARES funding by December 31, 2020. e Scores deferral payments to the year in which colleges are to spend the funds (rather than to the year in which colleges receive the funds).
https://lao.ca.gov/Education/EdBudget/Details/409

Weekly Unemployment Claims Update: August 2 - August 8 [EconTax Blog]

Aug 14, 2020 - As of August 8, California had 3.4 million employees receiving traditional unemployment benefits, level with the highest figure reported since EDD began releasing this information earlier in the year.
https://lao.ca.gov/LAOEconTax/Article/Detail/521

Income Tax Withholding Tracker: August 10-August 14 [EconTax Blog]

Aug 14, 2020 - The final graph shows the year over year changes in cumulative withholding for California in 2020, the United States in 2020 (from the federal income tax), and California in 2009 at the trough of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/522

U.S. Retail Sales: July 2020 [EconTax Blog]

Aug 14, 2020 - July 2020 sales by some types of retailers substantially exceeded last year ’s sales, while sales by other types of retailers fell far short of last year ’s sales. Many of these differences are similar to the ones we noted last month .
https://lao.ca.gov/LAOEconTax/Article/Detail/520

What Threat Does Sea-Level Rise Pose to California?

Aug 10, 2020 - To the degree local property tax revenues drop, this also could affect the state budget in some years because the California Constitution could require that losses in certain local property tax revenues used to support local schools be backfilled by the state ’s General Fund.
https://lao.ca.gov/Publications/Report/4261

Weekly Unemployment Claims Update: July 26 - August 1 [EconTax Blog]

Aug 7, 2020 - As of August 1, California had 3.4 million employees receiving traditional unemployment benefits, the highest figure reported since EDD began releasing this information earlier in the year. Number of Self-Employment Claims Top 1.2 Million This Week.
https://lao.ca.gov/LAOEconTax/Article/Detail/515

Income Tax Withholding Tracker: August 3-August 9 [EconTax Blog]

Aug 7, 2020 - The final graph shows the year over year changes in cumulative withholding for California in 2020, the United States in 2020 (from the federal income tax), and California in 2009 at the trough of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/514

Building Permits Update: June 2020 [EconTax Blog]

Aug 4, 2020 - The multifamily housing permit total of 2,745 was the lowest figure yet in 2020 and less than half the June average over the previous five years. June is typically the biggest month of the year for multifamily permits.
https://lao.ca.gov/LAOEconTax/Article/Detail/512

Improving California’s Response to the Environmental and Safety Hazards Caused by Abandoned Mines

Aug 4, 2020 - It would likely take one to two years to develop the initial strategic plan. Thereafter, the strategic plan should be updated at least once every five years, establish specific goals and measurable objectives, and prioritize remediation projects.
https://lao.ca.gov/Publications/Report/4258