California's Geography of Wealth [Publication Details]

Sep 5, 2019 - The concentration of wealth among a small number of very wealthy individuals and households has been the topic of much research and commentary in recent years. Perhaps less discussed is the similarly uneven geographical distribution of wealth.
https://lao.ca.gov/Publications/Detail/4093

Building Permits Update: July 2019 [EconTax Blog]

Sep 3, 2019 - Single family permits declined 3 percent in July relative to a year ago. Through the first seven months of 2019, single family permits are down 10 percent compared to 2018. The recent slowdown in housing permits is the most severe since the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/397

Managing California’s Cash

Sep 3, 2019 - Revenues in this year came in far below expectations, meaning the cash deficit went below $ 20  b illion and the year ended with a cumulative cash deficit of $ 10  b illion. California Faced a Frozen Credit Market in September of 2008.
https://lao.ca.gov/Publications/Report/4092

Evaluating Tax Expenditures [EconTax Blog]

Aug 29, 2019 - Framework for Evaluating Tax Expenditures Over the years, our office has provided reports to the Legislature about the effects and administration of various tax expenditures based on data reported by the Department of Finance and the state ’s tax agencies.
https://lao.ca.gov/LAOEconTax/Article/Detail/396

The Quiet Transformation in California’s Cash Management

Aug 29, 2019 - California’s constitutional balanced budget requirement notwithstanding, some form of short-term borrowing is necessary because cash receipts and disbursements within the year do not line up. General Fund disbursements are spaced relatively evenly throughout the fiscal year while a majority of tax collections are received later in the year.
https://lao.ca.gov/Publications/Report/4091

The Quiet Transformation in California’s Cash Management [Publication Details]

Aug 29, 2019 - In this Fiscal Perspective, Legislative Analyst Gabriel Petek writes about how the building of large budget reserve balances has quietly transformed California’s cash management in recent years.
https://lao.ca.gov/Publications/Detail/4091

MOU Fiscal Analysis: Bargaining Unit 13 (Stationary Engineers)

Aug 26, 2019 - Specifically, employees with (1)  7 years of continuous plant experience would receive a 5  percent differential, (2)  10 years of continuous plant experience would receive a 7  percent differential, and (3)  13 years of continuous plant service would receive a 9  percent differential.
https://lao.ca.gov/Publications/Report/4090

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 26, 2019 - Requires MVA to Make $100  Million Supplemental Pension Payment Over Four Years. In each of the four fiscal years of the agreement (2019 ‑20, 2020 ‑21, 2021 ‑22, and 2022 ‑23), the agreement would require the MVA to contribute $25  million to CalPERS —totaling to $100  million over the four years.
https://lao.ca.gov/Publications/Report/4089

Cannabis Tax Revenue Update [EconTax Blog]

Aug 22, 2019 - Last quarter ’s $97 million total is 21 percent higher than the current estimate for the prior quarter ($80 million) and roughly double the current estimate for the fourth quarter of the 2017-18 fiscal year ($48 million).
https://lao.ca.gov/LAOEconTax/Article/Detail/395

Property tax assessment. [Ballot]

Aug 22, 2019 - Schools could receive similar property tax gains. Change in State Funding for Schools. Should schools gain property tax revenues under the measure, state funding for schools may decrease by a similar amount in some years.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-003