April 2020 State Tax Collections [EconTax Blog]

May 22, 2020 - April 2020 State Tax Collections [EconTax Blog] Seth Kerstein Total collections from the state ’s “big three ” taxes (personal income tax, corporation tax, and sales tax) were down two-thirds from April 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/469

Home Sales Update: April 2020 [EconTax Blog]

May 22, 2020 - This next graph compares each week in 2020 to the comparable week in 2019 using Redfin data for California ’s major markets which cover most of the state. The graph shows that the dropoff from 2019 to 2020 accelerated as April went on.
https://lao.ca.gov/LAOEconTax/Article/Detail/468

Weekly Unemployment Claims Update: May 10-16 [EconTax Blog]

May 22, 2020 - Should continued claims keep rising, however, it could signal that the state is in for a protracted slump. Slight Uptick in Initial Claims. California had 246,115 initial claims between May 10 and May 16.
https://lao.ca.gov/LAOEconTax/Article/Detail/467

The 2020-21 May Revision: Recommend Reduction to Medi-Cal Caseload Costs

May 22, 2020 - Administration Assumes Limited Growth in Populations for Which the State Pays a Lower Share of Cost. In Medi-Cal, the state pays a 50  percent share of cost for parents, seniors and persons with disabilities, and most children.
https://lao.ca.gov/Publications/Report/4245

K-12 Funding by Source [EdBudget]

May 21, 2020 - Excludes $5.3 billion deferred from 2020-21 to 2021-22. b Consist primarily of state pension payments on behalf of districts, state debt service on school facility bonds, non-Proposition 98 Child Care programs, and operational expenses of the California Department of Education and other state agencies.
https://lao.ca.gov/Education/EdBudget/Details/388

The 2020-21 Budget: Immigrant Legal Services at the Public Higher Education Segments [Publication Details]

May 21, 2020 -
https://lao.ca.gov/Publications/Detail/4239

Overview of 2020-21 May Revision State Administration Proposals [Publication Details]

May 21, 2020 - Overview of 2020-21 May Revision State Administration Proposals [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4240

The 2020-21 Budget: Immigrant Legal Services at the Public Higher Education Segments

May 21, 2020 - Since 2015 ‑16, State Has Funded Legal Services for Immigrant Residents. The state currently provides the Department of Social Services (DSS) with $45  million ongoing General Fund for the Immigration Services Funding program.
https://lao.ca.gov/Publications/Report/4239

The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - This rationale is no longer valid as the state no longer has an estate tax. If the state were to eliminate the provision prospectively for inheritances of people who die after July 1, 2020, we estimate increased PIT revenue of about $120  million in 2020 ‑21, $450  million in 2021 ‑22, and $615  million in 2022 ‑23, with further increases in later years.
https://lao.ca.gov/Publications/Report/4238

U.S. Retail Sales: April 2020 [EconTax Blog]

May 18, 2020 - Although these data are not specific to California, they can help us understand the likely effects of the COVID-19 outbreak on revenues from the sales and use tax, a key state and local revenue source.
https://lao.ca.gov/LAOEconTax/Article/Detail/466