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

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/2019-004

General obligation bonds for various natural resources-related programs and projects. [Ballot]

Aug 22, 2019 - We assume that (1)  the interest rate for bonds would average 5  percent, (2)  they would be sold over the next 10 years, and (3)  all bonds would be issued for a 30-year term. Based on these assumptions, the cost to taxpayers to repay the bonds would average about $385  million annually over the next 40 years —totaling $15.4  billion to pay off both principal ($7.9  billion) and interest ($7.5  billion).
https://lao.ca.gov/BallotAnalysis/Initiative/2019-005

Unemployment Claims Update: July 2019 [EconTax Blog]

Aug 19, 2019 - Unemployment claims have been relatively flat over the past year, fluctuating slightly around an average of about 175,000. This pattern signals a strong labor market and, contrary to other recent economic data , offers little evidence of an impending economic slowdown.
https://lao.ca.gov/LAOEconTax/Article/Detail/392

July 2019 State Tax Collections [EconTax Blog]

Aug 19, 2019 - As has been the case throughout 2019, personal income tax (PIT) withholding continues to be strong, growing 5.5  percent compared to the same period last year. Similarly, corporation tax collections also continued to be strong, with estimated payments over 33 percent above the administration ’s projection.
https://lao.ca.gov/LAOEconTax/Article/Detail/391

Contributions to CalSTRS [EdBudget]

Aug 16, 2019 - Contributions to CalSTRS [EdBudget]     Note: Rates and amounts are based on a 6.8 percent investment return in 2018-19 and a projected 7 percent return in future years.   a Projected contribution rates reflect the additional payments to CalSTRS that were included in the 2019-20 budget. b Includes state contributions to Supplemental Benefits Maintenance Account.  
https://lao.ca.gov/Education/EdBudget/Details/279

MOU Fiscal Analysis: Bargaining Unit 7 (Protective Services and Public Safety)

Aug 8, 2019 - The agreement would expire July 1, 2023, meaning that it would be in effect for four years. The agreement includes provisions with effects on the state ’s budget in five fiscal years (from the current year —2019 ‑20 —through 2023 ‑2024).
https://lao.ca.gov/Publications/Report/4085

State Fiscal Health Index: June 2019 [EconTax Blog]

Aug 7, 2019 - The index ranges from 0 (representing the lowest level in the last 25 years) to 100 (representing the highest level in the last 25 years). Both the level of the index and changes in the index from month to month offer information about the state ’s fiscal health.
https://lao.ca.gov/LAOEconTax/Article/Detail/390

Building Permits Update: June 2019 [EconTax Blog]

Aug 6, 2019 - Multifamily permits have been notably weak in recent months, falling below prior year by 44 percent in May and 51 percent in June. Overall, multifamily permitting is down 24 percent through the first half of 2019 as compared to 2018.
https://lao.ca.gov/LAOEconTax/Article/Detail/389