The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Restores IHSS Hours From 7  Percent Reduction With General Fund Tied to MCO Tax. The spending plan includes $266   million General Fund to restore the service hours associated with the IHSS 7   percent reduction in service hours with General Fund for as long as the recently passed MCO tax is in place.
https://lao.ca.gov/Publications/Report/3487/7

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The above augmentations are partially offset by a $34  million reduction in General Fund support for trial court operations in 2016 –17 in order to reflect the availability of property tax revenue in accordance with Control Section 15.45 and Section 2578 of the Education Code.
https://lao.ca.gov/Publications/Report/3487/10

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The General Fund is the state 's main operating account where most state tax revenues are deposited. You can think of it as being similar to a general purpose checking account that a household uses to pay its bills.
https://lao.ca.gov/Publications/Report/3487/12

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Reflects MCO Tax Funding That Resulted From Special Session. Chapter  2 of the 2015 –16 Second Extraordinary Session (SB2X  2, Hernandez), imposes a revised MCO tax on most managed care plans. Revenues from the MCO tax are used, in part, to create General Fund savings in Medi –Cal .
https://lao.ca.gov/Publications/Report/3487/6

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Increase Covered About Evenly From Higher State General Fund and Local Property Tax Revenue. Of total Proposition  98 funding in 2016 –17 , $51.1  billion is state General Fund and $20.8  billion is local property tax revenue.
https://lao.ca.gov/Publications/Report/3487/3

LAO Multiyear State Budget Outlook

May 20, 2016 - For example, we assume the temporary taxes passed by voters in Proposition 30 expire, consistent with current law. Similarly, we  assume the tax on managed care organizations passed earlier this year expires at the end of 2018-19.
https://lao.ca.gov/Publications/Report/3472

Proposed Reserves in the Governor’s May Revision

May 17, 2016 - Since the Governor released his budget proposal in January, the administration has revised its estimate of personal income taxes resulting from capital gains income in 2015 through 2017. This results in lower BSA deposit estimates for 2015-16 and 2016-17.
https://lao.ca.gov/Publications/Report/3463

The 2016-17 Budget: Initial Comments on the Governor’s May Revision

May 15, 2016 - In addition, the MCO tax package prefunds retiree health benefits on a one-time basis and includes ongoing tax relief for certain MCO-related taxpayers. In 2016-17, spending associated with these commitments (including the tax relief) totals about $1 billion.
https://lao.ca.gov/Publications/Report/3460

The 2016-17 Budget: Initial Comments on the Governor’s May Revision [Publication Details]

May 15, 2016 - Nevertheless, estimated tax revenues continue to exceed proposed spending in 2016-17, which would facilitate total reserves ending 2016-17 at $4 billion above the level assumed in the state's 2015-16 budget plan.
https://lao.ca.gov/Publications/Detail/3460

The 2016-17 Budget: The Governor’s Reserve Proposal

Feb 19, 2016 - California has two statutes that trigger reductions in the state ’s sales tax rate if balances in the SFEU reach a certain threshold. Under either statute, the state ’s sales tax rate would automatically decline by one –quarter cent for one calendar year, equal to around $1.5  billion.
https://lao.ca.gov/Publications/Report/3348