Multiyear forecast of state finances under Governor's May Revision proposals

May 21, 2014 - Compared with the administration, our office assumes higher amounts of capital gains taxes flow to the General Fund during the forecast period, particularly in the near term. Under ACAX2 1, through 2029-30, annual deposits to the BSA are required (except when suspended or reduced in a declared budget emergency) to equal 0.75 percent of estimated General Fund revenues plus half of
https://lao.ca.gov/Recommendations/Details/813

Proposed pilot unlikely to provide reliable results

May 19, 2014 - Counties administer the property tax. While most local governments that receive property taxes reimburse the county for their proportionate share of administrative costs, scho ols and community colleges do not.
https://lao.ca.gov/Recommendations/Details/810

Governor's proposal for pharmacy benefits in Medi-Cal managed care

May 18, 2014 - However, DHCS collects state rebates for drugs provided through five of the six county-organized health systems (COHS), which are not considered MCOs. Cu rrently, state rebate contracts do not affect COHS formularies or UM policies.
https://lao.ca.gov/Recommendations/Details/809

The 2014-15 Budget: Overview of the May Revision [Publication Details]

May 16, 2014 - In addition, we project over $700 million more in local property taxes for school districts. If the Legislature were to adopt our office's higher revenue forecast and property tax estimates, General Fund spending under Proposition 98 would increase $2.7 billion, relative to the administration's May forecast.
https://lao.ca.gov/Publications/Detail/3017

Proposal to pay down state mandates backlog

May 15, 2014 - This funding would be allocated to cities, counties, and special districts based on their share of total pre-2004 mandate claims, pursuant to a schedule developed by DOF. Counties would receive $73.1 million, cities would receive $24.6 million, and special districts would recei ve $2.2 million.
https://lao.ca.gov/Recommendations/Details/807

Existing state tuberculosis (TB) control funding should be used to address TB control mandate.

May 12, 2014 - Each county and city is required to designate an LHO to perform a varie ty of public health responsibilities (including TB control). However, most cities, with the exception of the cities of Berkeley, Long Beach, and Pasadena, have conferred this autho rity upon their county LHO.
https://lao.ca.gov/Recommendations/Details/806

Updates concerning April 2014 California tax collections.

May 11, 2014 - For the state 's "Big Three " General Fund taxes--the personal income tax (PIT), the corporation tax (CT), and the sales tax--April 2014 collections were a combined $529 million above the most recent projecti ons for that month.
https://lao.ca.gov/Recommendations/Details/803

Property Tax Reductions to Diminish as Housing Market Improves [Publication Details]

May 5, 2014 - In total, temporary property tax reductions lowered local government property tax revenues by an estimated $7 billion in 2013-14, amounting to 15 percent of total property tax revenues statewide. However, real estate markets have recovered significantly over the past two years, and property tax payments for many of these property owners increased by as much as 20 percent in 2013-14.
https://lao.ca.gov/Publications/Detail/3010

Film and Television Production: Overview of Motion Picture Industry and State Tax Credits [Publication Details]

Apr 30, 2014 - Film and Television Production: Overview of Motion Picture Industry and State Tax Credits [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/3007

Fewer tax refunds than projected in March. 13-14 revenues still above Governor's forecast.

Apr 16, 2014 - Sales Taxes Slightly Below Forecast for March. As of the end of February, sales taxes were $127 million below DOF ’s projections for 2013-14. Preliminary March data shows that sales taxes were just slightly below the DOF estimate for the month, bringing the 2013-14 year-to-date total for these taxes to $139 million below forecast.
https://lao.ca.gov/Recommendations/Details/802