The 2023-24 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 16, 2022 - Local Property Tax Estimates Reflect Trends in the Housing Market. Growth in property tax revenue is linked with growth in the housing market, but this growth typically lags the market by a few years.
https://lao.ca.gov/Publications/Report/4648

The 2022-23 Budget: Overview of the Governor's Budget

Jan 13, 2022 - Taxes Business Tax Reductions Lifts Temporary Limits on Business Tax Provisions. The Governor ’s budget proposes to end, one year early, temporary limits on the ability of businesses to use NOL deductions and tax credits to reduce their tax payments.
https://lao.ca.gov/Publications/Report/4492

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - The Governor ’s budget includes nearly $3  billion in reductions, the largest of which is withdrawing a discretionary principal payment on state ’s unemployment insurance loan (which otherwise is paid by employers ’ payroll taxes).
https://lao.ca.gov/Publications/Report/4662

Increasing Transparency of County Office of Education Spending

Mar 14, 2024 - (For  example, with special education funding that is transferred to school districts and certain local property tax transferred to trial courts.) In addition, COEs conduct a wide range of activities with LCFF —their primary state funding source.
https://lao.ca.gov/Publications/Report/4883

The 2023-24 California Spending Plan: Proposition 98 and K-12 Education

Nov 28, 2023 - The budget provides $632,000 to offset reductions in property tax revenue experienced by basic aid school districts affected by the Kincade Fire, a wildfire that burned in Sonoma County in the fall of 2019.
https://lao.ca.gov/Publications/Report/4818

The 2023-24 Budget: One-Time K-12 Spending Proposals

Feb 16, 2023 - Compared with the estimate included in the June 2022 budget plan, the administration revises its estimate of the minimum guarantee up $178   million in 2021 ‑22, primarily due to local property tax revenue exceeding previous estimates.
https://lao.ca.gov/Publications/Report/4688

The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges

Nov 18, 2020 - Tax collections for the state ’s three largest taxes —the personal income tax, the corporation tax, and the sales tax —have been very strong over the past several months. Between August and October, collections were up 9  p ercent compared with the same period the previous year and 22  p ercent compared with June 2020 e stimates ( Figure  2 ).
https://lao.ca.gov/Publications/Report/4298

The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - Tax Reductions and Business Assistance Tax Refunds to Low-Income Californians. The Governor ’s budget proposes a one ‑time $600 tax refund to taxpayers who received the California Earned Income Tax Credit (EITC) for 2019 and taxpayers using an Individual Taxpayer Identification Number (ITIN) who will receive the EITC for 2020.
https://lao.ca.gov/Publications/Report/4309

The 2021-22 Budget: California's Fiscal Outlook

Nov 18, 2020 - Recent Data on Tax Collections and Expenditures Consistent With Economic Picture. Recent data on actual tax collections and program caseloads have been consistent with a more positive economic picture, especially among high ‑income Californians.
https://lao.ca.gov/Publications/Report/4297

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - If the Legislature wants to make different decisions about this spending (without statutory changes or fund shifts), it can either: (1)  use the funds to make tax rebates and additional payments to schools, (2)  spend on other SAL-excluded purposes, or (3)  use the funds to reduce taxes.
https://lao.ca.gov/Publications/Report/4432