Unemployment Claims Update: November 2019 [EconTax Blog]

Dec 20, 2019 - Unemployment claims have been relatively flat over the past year, fluctuating slightly around an average of about 175,000. This pattern signals a strong labor market and, contrary to other recent economic data , offers little evidence of an impending economic slowdown.
https://lao.ca.gov/LAOEconTax/Article/Detail/422

November 2019 State Tax Collections [EconTax Blog]

Dec 18, 2019 - Year-to-date, revenues are $398  million below projections. The majority of the November shortfall is attributable to the PIT. The PIT shortfall may largely be due to timing. The first withholding collection day after Thanksgiving, which is typically an above average collection day, fell in December instead of November.
https://lao.ca.gov/LAOEconTax/Article/Detail/421

The 2020-21 Budget: Analyzing UC and CSU Cost Pressures

Dec 18, 2019 - Were new campuses or medical schools to be approved over the next few years, the resulting cost increases would be substantial, with significant long ‑term fiscal implications. Key Planning Issues In this section, we examine the extent to which the state General Fund budget has capacity to cover UC and CSU cost pressures in the budget year.
https://lao.ca.gov/Publications/Report/4127

App-based rideshare and delivery drivers. [Ballot]

Dec 18, 2019 - D ue to high driver turnover, the total number who drive each year is higher —likely between 800,000 and 950,000. Though hourly pay varies and is difficult to estimate, most drivers probably make between $11 and $16 per hour, on average, after covering vehi cle expenses.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-026

State Fiscal Health Index: October 2019 [EconTax Blog]

Dec 17, 2019 - The index ranges from 0 (representing the lowest level in the last 25 years) to 100 (representing the highest level in the last 25 years). Both the level of the index and changes in the index from month to month offer information about the state ’s fiscal health.
https://lao.ca.gov/LAOEconTax/Article/Detail/420

How High? Adjusting California’s Cannabis Taxes

Dec 17, 2019 - For example, state cannabis tax revenue in the first half of calendar year 2019 was roughly twice as large as revenue in the first half of calendar year 2018 —a 100  p ercent increase. This strong revenue growth occurred while state cannabis tax rates remained constant.
https://lao.ca.gov/Publications/Report/4125

Chronic Dialysis Clinics [Ballot]

Dec 13, 2019 - The measure requires CDPH to adopt regulations to admin ister the provisions of this measure within one year after the law takes effect. If CDPH cannot meet that deadline, it can issue emergency regulations as it completes the regular p rocess.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-025

Preparing for Rising Seas: How the State Can Help Support Local Coastal Adaptation Efforts

Dec 10, 2019 - The totals shown in the figure include $ 25  m illion for OPC and nearly $ 4  m illion for SCC appropriated in the 2018 ‑19 Budget Act that can be used for coastal adaptation projects, some of which likely has not yet been allocated for specific projects.
https://lao.ca.gov/Publications/Report/4121

October 2019 State Tax Collections [EconTax Blog]

Dec 9, 2019 - Year-to-date, revenues are $70 million below projections. While PIT collections have been somewhat lower than expected this year, corporation tax collections remain almost $700 million ahead of June estimates due to strong collections the first three months of the year.
https://lao.ca.gov/LAOEconTax/Article/Detail/419

Tempered Expectations

Dec 9, 2019 - While this is consistent with the Legislature ’s past practice, it would involve at least one multibillion dollar year-over-year funding reduction to the schools, a difficult policy decision for the Legislature.
https://lao.ca.gov/Publications/Report/4122