Amid Good Fiscal Times, Planning for the Future Is Crucial [Publication Details]

May 21, 2019 - The idea here is that in good times—when revenues are strong—the state spends somewhat below its capacity, sequestering the difference in reserves. Later, when the economy and tax receipts weaken, the state can draw upon its accumulated savings to fund a spending level above what revenues would otherwise support.
https://lao.ca.gov/Publications/Detail/4051

April 2019 Jobs Report [EconTax Blog]

May 17, 2019 - Overall employment in the state has grown 1.6 percent over the previous 12 months, close to the nation ’s 1.8 percent growth rate.  
https://lao.ca.gov/LAOEconTax/Article/Detail/374

Unemployment Claims Update: April 2019 [EconTax Blog]

May 17, 2019 - Source: United States Department of Labor with LAO calculations  
https://lao.ca.gov/LAOEconTax/Article/Detail/373

The 2019-20 Budget: May Revision Multiyear Budget Outlook

May 17, 2019 - The Governor has stated that one of the primary objectives of his budget is to better prepare the state for such a future challenge. To do this, the administration uses a substantial portion of the expected surplus to pay down state debts and liabilities.
https://lao.ca.gov/Publications/Report/4050

The 2019-20 Budget: May Revision Multiyear Budget Outlook [Publication Details]

May 17, 2019 - The 2019-20 Budget: May Revision Multiyear Budget Outlook [Publication Details] Description: This report presents our office’s independent assessment of the condition of the state General Fund budget through 2022-23 assuming the economy continues to grow and all of the Governor’s May Revision spending proposals are adopted.
https://lao.ca.gov/Publications/Detail/4050

The 2019-20 May Revision: Analysis of the Governor’s January and May Mental Health Workforce Proposals

May 16, 2019 - Historically, what otherwise would have been local MHSA funding for counties was redirected to fund state mental health WET programs. Under the Governor ’s proposal, however, only funding designated for state purposes (General Fund and the portion of MHSA funding dedicated to state activities and programs) would support state mental health workforce programs.
https://lao.ca.gov/Publications/Report/4049

Governor’s May Revision Update: Health Insurance Affordability Proposals

May 15, 2019 - At the end of the year, the state subsidies would be reconciled through the state income tax system. The proposed state subsidies would be available beginning in 2020, but Figure  1 shows hypothetical income amounts for a household of two in 2019 because 2020 FPL amounts have not yet been determined.
https://lao.ca.gov/Publications/Report/4047

The 2019-20 May Revision: Analysis of the May Revision Education Proposals

May 15, 2019 - To prioritize limited resources, the state could continue to address its unfunded pension liability at CalPERS or CalSTRS before focusing on UCRP. For both CalPERS and CalSTRS, the state has a clearer responsibility to address unfunded liabilities, as the state sets associated pension benefits and contribution rates.
https://lao.ca.gov/Publications/Report/4048

Governor’s May Revision Update: Health Insurance Affordability Proposals [Publication Details]

May 15, 2019 - With the May Revision (and prior to the May Revision with the release of proposed implementing legislation), the administration has provided additional details on its January proposal to impose a state individual mandate and use penalty revenues from the mandate to fund health insurance subsidies.
https://lao.ca.gov/Publications/Detail/4047

Governor’s May Revision Update: Health Insurance Affordability Proposals

May 15, 2019 - At the end of the year, the state subsidies would be reconciled through the state income tax system. The proposed state subsidies would be available beginning in 2020, but Figure  1 shows hypothetical income amounts for a household of two in 2019 because 2020 FPL amounts have not yet been determined.
https://lao.ca.gov/publications/report/4047