February 2021 Cap-and-Trade Auction Update [EconTax Blog]

Feb 25, 2021 - The remaining $41 million in additional revenue will be available for discretionary spending —which can be allocated by the Legislature as part of this year ’s budget process, or in future years. Future Auction Revenue Continues to Be Subject to Substantial Uncertainty.
https://lao.ca.gov/LAOEconTax/Article/Detail/630

Home Prices Update: January 2021 [EconTax Blog]

Feb 23, 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. January 2021 data show torrid home price growth in both California and the rest of the country over the past year: the typical home in California has appreciated 10.5 percent since January 2020, somewhat above the national figure of 9.1 percent.
https://lao.ca.gov/LAOEconTax/Article/Detail/628

Updating Special Education Out-of-Home Care Funding

Feb 23, 2021 - In recent years, the state has continued to provide Out ‑of ‑Home Care funding, but counts of foster youth and bed capacity for group homes have been frozen at 2016 ‑ 17 l evels for each SELPA. In other words, for the past several years, Out ‑of ‑Home Care funding has not accounted for changes in foster youth counts in each SELPA, the placement of more foster youth with resource families, or the replacement of group homes with STRTPs.
https://lao.ca.gov/Publications/Report/4386

The 2021-22 Budget: State Board of Equalization

Feb 23, 2021 - BOE ’s overall vacancy rate in 2017 ‑ 18 —the first fiscal year under the new organizational structure —was 14  p ercent, similar to many state departments. By 2019 ‑20, the vacancy rate had grown to 32  p ercent.
https://lao.ca.gov/Publications/Report/4385

The 2021-22 Budget: Hastings College of the Law

Feb 22, 2021 - According to the website “Law School Transparency, ” the average Hastings ’ graduate spends 24  p ercent of his or her first ‑year income to repay student debt, whereas the burden for UC law school graduates ranges between 13  p ercent and 21  p ercent.
https://lao.ca.gov/Publications/Report/4383

The 2021-22 Budget: Hastings College of the Law [Publication Details]

Feb 22, 2021 - This report analyzes the Governor's proposal to provide the Hastings College of the Law a General Fund base increase in 2021-22.
https://lao.ca.gov/Publications/Detail/4383

Income Tax Withholding Tracker: February 1 - February 19 [EconTax Blog]

Feb 19, 2021 - As of January 25, the tracker showed an increase of 6.1 percent ($3.599 billion). The final graph shows the year over year changes in cumulative withholding for California in 2020-21, the United States in 2020-21 (from the federal income tax), and California in 2009-10 at the trough of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/627

The 2021-22 Budget: Educator Workforce Proposals [Publication Details]

Feb 19, 2021 - In this post, we analyze the Governor’s proposals to address teacher shortages, as well as his proposals to provide additional professional development for school staff. For each, we provide background, describe the Governor’s proposals, assess these proposals, and offer associated recommendations.
https://lao.ca.gov/Publications/Detail/4381

The 2021-22 Budget: Behavioral Health: Community Care Demonstration Project

Feb 19, 2021 - DSH Would Reassess Methodology for Ongoing Funding Amount After Three Years. Under the CCDP, DSH would reassess the methodology for determining the ongoing funding amount provided to participating counties after three years.
https://lao.ca.gov/Publications/Report/4382

The 2021-22 Budget: Educator Workforce Proposals

Feb 19, 2021 - Classified Program ($25   Million Proposition   98). Funding would support at least an additional 1, 041 p articipants with grants of up to $24, 000 o ver five years. School districts, county offices of education (COEs), and charter schools that have not previously received funding would receive priority for funding.
https://lao.ca.gov/Publications/Report/4381