High-quality public education (Version 1). [Ballot]

May 16, 2023 - The remaining funding is from a combination of local property taxes and federal funding. State Law Regulates School Operations in Many Areas. For example, the law requires school district students to take standardized tests in several subjects, specifies the courses that students must complete to earn a high school dipl oma, and specifies the reasons a district may suspend or expel a student.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-001

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - The main proposal in this area is a renewal and increase in a tax on health insurance plans known as the managed care organization (MCO) tax. Under the proposal, the tax would last from April 2023 through December 2026 and be used to maintain and augment support for Medi ‑Cal, the state ’s Medicaid program.
https://lao.ca.gov/Publications/Report/4769

Higher Education General Fund Support Under Governor's Budget and May Revision [EdBudget]

May 14, 2023 - Higher Education General Fund Support Under Governor's Budget and May Revision [EdBudget]     a Reflects Proposition 98 funding, which consists of certain General Fund and local property tax revenues. b Includes funding for pensions and retiree health benefits. c The annual growth rate of Proposition 98 spending drops from 2.5 percent at Governor's budget to 0.4 percent at May
https://lao.ca.gov/Education/EdBudget/Details/721

The 2023-24 Budget: May Revenue Outlook [EconTax Blog]

May 13, 2023 - The bulk of this decline is attributable to the personal income tax. For 2023-24, our forecast anticipates big three revenues will remain flat, with weakness shifting from the personal income tax to sales and corporation taxes.
https://lao.ca.gov/LAOEconTax/Article/Detail/774

The 2023-24 Budget: May Revenue Outlook [EconTax Blog]

May 13, 2023 - The bulk of this decline is attributable to the personal income tax. For 2023-24, our forecast anticipates big three revenues will remain flat, with weakness shifting from the personal income tax to sales and corporation taxes.
https://lao.ca.gov/LAOEconTax/article/Detail/774

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - A final complication is the state ’s conformity to the federal Internal Revenue Service rule change that, as a response to the January floods, delayed the 2022 tax filing deadline to October from April.
https://lao.ca.gov/Publications/Report/4762

U.S. Retail Sales Update: March 2023 [EconTax Blog]

Apr 14, 2023 - U.S. retail sales have grown 1.9 percent over the last 3 months and 2.9 percent over the last 12 months. Sales have grown faster than inflation over the last 3 months but slower than inflation over the last 12.
https://lao.ca.gov/LAOEconTax/Article/Detail/773

The 2023-24 Budget: Overview of Information Technology Project Proposals

Mar 17, 2023 - IT = information technology; TF = total funds; GF = General Fund; OF = other funds; EDD = Employment Development Department; FTB = Franchise Tax Board; CDCR = California Department of Corrections and Rehabilitation; SWRCB = State Water Resources Control Board; DSH = Department of State Hospitals; CARB = California Air Resources Board; DDS = Department of Developmental Services;
https://lao.ca.gov/Publications/Report/4746

U.S. Retail Sales Update: February 2023 [EconTax Blog]

Mar 15, 2023 - U.S. retail sales have grown 2 percent over the last 3 months and 5.4 percent over the last 12 months.
https://lao.ca.gov/LAOEconTax/Article/Detail/772

An Update on California Competes [EconTax Blog]

Mar 10, 2023 - The figure below shows two measures of investments promised by California Competes tax credit recipients (1) capital investments per $1 of tax credit and (2) new jobs per $100,000 of tax credit (adjusted for inflation).
https://lao.ca.gov/LAOEconTax/Article/Detail/771