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

May 17, 2021 - CAC = California Arts Council; CalVet = California Department of Veterans Affairs; CDE = California Department of Education; CDFA = California Department of Food and Agriculture; CDI = California Department of Insurance; CDT = California Department of Technology; SOC = Security Operations Center; IT = information technology; CMD = California Military Department; CPUC = California Public Utilities
https://lao.ca.gov/Publications/Report/4432/6

Cal Facts: 2016

Dec 5, 2016 - Cal Facts: 2016 Limits property tax rates and assessment increases. Establishes vote requirement for certain taxes. 4 (1979) Sets annual state and local spending caps. Requires state to reimburse local governments for some state mandates. 98 (1988) Establishes minimum funding requirement for schools and community colleges. 172 (1993) Imposes half-cent sales
https://lao.ca.gov/Publications/Report/3511/1

The 2018-19 Budget: California's Fiscal Outlook

Nov 15, 2017 - California, for example, may be disproportionately affected by proposed changes to the state and local tax deduction, but the state ’s economy also could benefit from other parts of the plan. Changes to the federal tax code also could affect the administration of state tax laws, and this could lead to proposals for legislation to conform California ’s tax laws to some of the federal changes.
https://lao.ca.gov/Publications/Report/3718

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - The state ’s largest three General Fund taxes —the personal income tax, sales and use tax, and corporation tax —are projected to increase 4  p ercent. Figure 3
https://lao.ca.gov/Publications/Report/3870

The 2021-22 Budget: California's Fiscal Outlook [Publication Details]

Nov 18, 2020 - In addition to The 2021-22 Budget: California’s Fiscal Outlook report and the accompanying The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges report, several related posts on health and human services, economics and taxes, and other issues will be published in the coming days.
https://lao.ca.gov/Publications/Detail/4297

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Personal Income Tax Is Dominant State Revenue Source. The personal income tax (PIT) is the state ’s tax on most sources of individual income, including: salaries and wages, proprietor and partnership income, capital gains, dividends and interest, and retirement distributions.
https://lao.ca.gov/Publications/Report/3769

Cal Facts: 2016

Dec 5, 2016 - Local transportation funding sources include local sales taxes, transit fares, development impact fees, and property taxes. About one-fifth of the state ’s transportation funding comes from the federal government, supported primarily by federal excise taxes on diesel and gasoline.
https://lao.ca.gov/Publications/Report/3511/6

Fiscal Outlook: Medi-Cal

Nov 15, 2017 - Expiration of Managed Care Organization (MCO) Tax Current MCO Tax. The current MCO tax is assessed on a large number of managed care plans in the state. Revenues from the MCO tax, which leverage federal funding for Medi-Cal, provide a substantial General Fund offset —an estimated $1.8  billion in 2017-18.
https://lao.ca.gov/Publications/Report/3715

State Fiscal Picture 1994-95 [Publication Details]

Feb 23, 1994 - Perhaps the most important policy proposal in the budget is the Governor's plan for restructuring the state/county fiscal relationship, which is intended to give counties a significant cost share in the health and welfare programs that they administer in order to provide appropriate incentives to make those programs more efficient and effective.
https://lao.ca.gov/Publications/Detail/246

Tempered Expectations

Dec 9, 2019 - General Fund reliance on the personal income tax —and thus on capital gains-related income taxes in particular —has increased. Consequently, from a fiscal standpoint, the state could see revenue shortfalls commensurate with or greater than past recessions, especially if it were accompanied by a stock market correction.
https://lao.ca.gov/Publications/Report/4122