Home Prices Update: April 2021 [EconTax Blog]

May 20, 2021 - In the longer term, chronically high housing costs have hurt the state ’s business climate and been a key reason California loses residents to other states on net in most years. April 2021 data show continued rapid home price growth in both California and the rest of the country over the past year: the typical home in California has appreciated 12.5 percent since April 2020, somewhat above the national figure of 11.5 percent.
https://lao.ca.gov/LAOEconTax/Article/Detail/656

The 2021-22 May Revision: Golden State Stimulus 2

May 18, 2021 - Over the last year, most low- and middle-income Californians received three federal stimulus checks totaling $3,200 per adult and $2,500 per child. For example, an eligible family of four received $11,400 in federal stimulus payments over the past year.
https://lao.ca.gov/Publications/Report/4435

The 2021-22 Budget: Overview of May Revision K-12 Education Proposals [Publication Details]

May 18, 2021 - This handout analyzes the overall architecture of the Governor's May Revision plan for school funding, including major spending proposals and underlying estimates of the Proposition 98 minimum guarantee.
https://lao.ca.gov/Publications/Detail/4433

The 2021-22 Budget: May Revenue Outlook [EconTax Blog]

May 17, 2021 - Our main forecast anticipates annual revenue growth to average 4 percent over 2022-23 to 2024-25, resulting in revenues reaching $207 billion by 2024-25. This growth rate is a bit slower than the average over the last 20 years of 5.5 percent, reflecting the expected effects of recent tax policy changes.
https://lao.ca.gov/LAOEconTax/Article/Detail/654

The 2021-22 Budget: May Revenue Outlook [EconTax Blog]

May 17, 2021 - Our main forecast anticipates annual revenue growth to average 4 percent over 2022-23 to 2024-25, resulting in revenues reaching $207 billion by 2024-25. This growth rate is a bit slower than the average over the last 20 years of 5.5 percent, reflecting the expected effects of recent tax policy changes.
https://lao.ca.gov/LAOEconTax/article/Detail/654

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - The funds will be transferred soon, but the state has until December 31, 2024 to use the funds. The U.S. Department of the Treasury recently released detailed guidance with more detail on how these funds can be used.
https://lao.ca.gov/Publications/Report/4432

U.S. Retail Sales Update: April 2021 [EconTax Blog]

May 14, 2021 - March ’s gain was the second largest in at least 25 years, trailing only May 2020, when the stay-at-home orders were relaxed. With this high April figure, cumulative sales from March 2020 through April 2021 are now up 4 percent (a normal growth rate) over the previous 14 month period from January 2019 to February 2020.  
https://lao.ca.gov/LAOEconTax/Article/Detail/653

A Review of Child Care and Preschool Program Flexibilities in Certain Counties

May 13, 2021 - Once determined eligible for part ‑day CSPP, all families remain eligible for the school year. Families seeking employment are eligible for less than 30 hours of services a week. Families that are seeking permanent housing and/or are homeless are eligible for less than 30 hours of services a week.
https://lao.ca.gov/Publications/Report/4431

What Can We Learn From How the State Responded to the Last Major Drought?

May 13, 2021 - One of the most publicized short ‑term policies implemented during the 2012 t o 2016 drought was Governor Brown ’s call for a 25  p ercent statewide reduction in urban water use. In response to direction from an executive order, SWRCB passed emergency regulations implementing temporary water conservation requirements for urban potable water users, including certain limitations on outdoor irrigation.
https://lao.ca.gov/Publications/Report/4429

What Can We Learn From How the State Responded to the Last Major Drought? [Publication Details]

May 13, 2021 - Format: HTML Description: For the second consecutive year, the state is experiencing extremely low rates of precipitation. As we prepare for what could be an extended period of dry conditions, it is helpful to review how the state responded to the last major drought.
https://lao.ca.gov/Publications/Detail/4429