The 2022-23 Budget: Analysis of the Care Economy Workforce Development Package

Mar 10, 2022 - Historically, a small statewide payroll tax provided funding for ETP grants but, in recent years, the state has supplemented this longstanding funding source with General Fund monies for targeted training grants.
https://lao.ca.gov/Publications/Report/4572

Cannabis Tax Revenue Update [EconTax Blog]

Feb 23, 2022 - Cannabis Tax Revenue Update [EconTax Blog] Seth Kerstein In November 2016, California voters approved Proposition 64 , which legalized the nonmedical use of cannabis. The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax.
https://lao.ca.gov/LAOEconTax/Article/Detail/726

The 2022-23 Budget: Health Care Access and Affordability

Feb 23, 2022 - Advance Premium Tax Credit (APTC). The APTC —as structured under the ACA —offsets the cost of health insurance premiums for households with incomes between 100  percent and 400  percent of the FPL. This  tax credit effectively limits a household ’s net premium for a silver plan (after accounting for the tax credit) to between 2  percent and 10  percent of annual income.
https://lao.ca.gov/Publications/Report/4560

California’s Cannabis Taxes [Publication Details]

Feb 22, 2022 - California’s Cannabis Taxes [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/4559

The 2022-23 Budget: Analysis of Child Welfare Proposals and Program Implementation Updates

Feb 22, 2022 - Tax Credit for Former Foster Youth: $20  million estimated reduction in revenue to provide fully refundable tax credits of around $1,000 to former foster youth age 18  through  25 who are eligible for the California Earned Income Tax Credit.
https://lao.ca.gov/Publications/Report/4558

The Definition of Qualified Capital Outlay for the State Appropriations Limit

Feb 18, 2022 - Appropriations subject to the limit are calculated by taking proceeds of taxes and reducing them by excluded spending. Statutory Definition of Qualified Capital Outlay. One important SAL exclusion is qualified capital outlay.
https://lao.ca.gov/Publications/Report/4547

2021-22 “Big Three” Revenue Outlook Update: February 2022 [EconTax Blog]

Feb 17, 2022 - We currently project that there is a very good chance that collections from the state ’s “big three ” taxes —personal income, sales, and corporation taxes —will exceed the Governor ’s Budget assumption of $185 billion in 2021-22 by at least several billion dollars.
https://lao.ca.gov/LAOEconTax/Article/Detail/725

The 2022-23 Budget: Governor’s Public Safety Package

Feb 17, 2022 - The ORCE investigators plan to focus on complex, multi ‑jurisdictional organized retail theft crime networks for fraud, tax evasion, and other white ‑collar crimes. These investigators would coordinate with federal, state, local, and retail partners as well as coordinate data collection and information.
https://lao.ca.gov/Publications/Report/4546

U.S. Retail Sales Update: January 2022 [EconTax Blog]

Feb 16, 2022 - U.S. retail sales (seasonally adjusted) grew 3.8 percent from December to January. Retail sales have been elevated after growing dramatically in early 2021, but inflation has offset most of the past year’s apparent “growth.”
https://lao.ca.gov/LAOEconTax/Article/Detail/724

The 2022-23 Budget: Public Health Foundational Support

Feb 16, 2022 - (Nonprofit hospitals, in exchange for their tax ‑exempt status, are required to use some of their resources for community benefits, such as charity care, based on a community needs assessment.) Assessment of Spending Plan Providing more sustained, flexible General Fund support for public health was an important priority for the Legislature in reaching the 2021 ‑22 budget agreement.
https://lao.ca.gov/Publications/Report/4544