The 2017-18 Budget: California's Fiscal Outlook

Nov 16, 2016 - This increase in county contributions to IHSS costs could decrease our projected state share of cost for the IHSS program by hundreds of millions of dollars annually in the out–years. Restoration of the IHSS Service Hours Previously Reduced by 7  Percent Tied to MCO Tax Existence.
https://lao.ca.gov/Publications/Report/3507

The 2017-18 Budget: California's Fiscal Outlook [Publication Details]

Nov 16, 2016 - This means, under our assumptions, the state could weather a mild recession without cutting spending or raising taxes. However, this conclusion assumes that the state does not make any changes to its current policies and programs in any year during the outlook.
https://lao.ca.gov/Publications/Detail/3507

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Such funds are remitted to the state by counties that collect more property tax than state law allows them to spend on education. Improvement and Modernization Fund (IMF). In recent years, the judicial branch ’s IMF experienced persistent operational shortfalls that steadily depleted the fund balance.
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 - These General Fund costs are anticipated to increase in 2017 –18 , but to eventually decline to zero as growth in certain county realignment funds are used to pay these costs. Increases Funding for Affordable Housing Programs.
https://lao.ca.gov/Publications/Report/3487/1

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - This increase is due to College Access Tax Credit Fund revenues growing from $1.8  million in 2015 –16 to $5.1  million in 2016 –17 . Additionally, the budget increases the amount of federal TANF supporting Cal Grants by $405  million and decreases General Fund by the same amount.
https://lao.ca.gov/Publications/Report/3487/5

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Budget –related legislation also provides additional guidance on the structure of the CVRP, including specifying maximum income eligibility limits for electric vehicles ($150,000 for an individual tax filer and $300,000 for joint filers) and directing the ARB to increase the rebate amounts by $500 for low –income households. $80  million for the Enhance Fleet Modernization
https://lao.ca.gov/Publications/Report/3487/8

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The state ’s “Big Three ” General Fund taxes —the personal income tax, sales and use tax, and corporation tax —are assumed to increase at a slightly higher rate (4.2  percent). The difference between these growth rates is attributable to a decline in other revenues.
https://lao.ca.gov/Publications/Report/3487

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The primary factor explaining the growth in property tax revenue is the strong 6.2  percent increase in assessed property values. In addition, the budget plan assumes property tax revenue increases by $419  million due to the triple flip ending, thereby completing the shift of revenue from cities, counties, and special districts to school districts and community colleges.
https://lao.ca.gov/Publications/Report/3487/3