Changes in University of California General Fund Spending [EdBudget]

Jul 18, 2023 - The 2023-24 budget plan states intent to provide an additional $3 million ongoing General Fund for this center beginning in 2024-25. h The 2022-23 budget plan provided $2.4 million for this institute.
https://lao.ca.gov/Education/EdBudget/Details/759

Mental Health Services Act: Proposed Restructuring of the MHSA Funding Categories and Impacts on County Spending

Jul 13, 2023 - There may be changes in the types of programs and services funded on a year-to-year basis that are not captured in our analysis and 2021-22 data may not be representative of counties ’ funding priorities over time.
https://lao.ca.gov/Publications/Report/4782

Mental Health Services Act: Revenue Volatility and the Governor’s Proposal to Reduce Allowable County Reserves

Jul 13, 2023 - This means that the caps are equal to 25  percent of total county MHSA revenues (the product of 33  percent and 76  percent). Second, the caps are based on an average of the previous five years of CSS funding.
https://lao.ca.gov/Publications/Report/4780

Updated Unemployment Insurance Fund Forecast Shows Structural Deficit [EconTax Blog]

Jul 7, 2023 - This interest payment is expected to be about $300 million in 2024-25. Structural Deficit Consistent with  LAO Forecast. The administration ’s expectation that the state ’s UI trust fund is now structurally insolvent is in-line with our office ’s preliminary projections.  
https://lao.ca.gov/LAOEconTax/article/Detail/779

Updated Unemployment Insurance Fund Forecast Shows Structural Deficit [EconTax Blog]

Jul 7, 2023 - This interest payment is expected to be about $300 million in 2024-25. Structural Deficit Consistent with  LAO Forecast. The administration ’s expectation that the state ’s UI trust fund is now structurally insolvent is in-line with our office ’s preliminary projections.  
https://lao.ca.gov/LAOEconTax/Article/Detail/779

Psilocybin legalization. [Ballot]

Jun 29, 2023 - The measure eliminates existing penalties under state law for people 21 years of age and over who engage in psilocybin-related activities including, possession, distribution, trans portation, and sale of psilocybin.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-004

Annual Report on Tax Exemptions for Medicinal Cannabis

Jun 14, 2023 - In particular, the data reflect transactions that businesses identified as medicinal donations in calendar year 2022. Number of Patients Served. In 2022, licensees identified 47,371 transactions as medicinal donations.
https://lao.ca.gov/Publications/Report/4777

The 2023-24 Budget: Total Compensation Studies

May 24, 2023 - We recommend that state law specify which bargaining units are included in each reporting year and that the law divide the two reporting groups such that roughly one-half of the state ’s bargaining units are reported in each year.
https://lao.ca.gov/Publications/Report/4773

Cannabis Tax Revenue Update: May 2023 [EconTax Blog]

May 23, 2023 - Nevertheless, now that cannabis excise taxpayers have filed returns for three of the four quarters of 2022-23, we are starting to get a clearer sense of the revenue total for the fiscal year. Current LAO Estimate for 2022-23: $509 Million.
https://lao.ca.gov/LAOEconTax/Article/Detail/776

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - As a result, the Legislature would need to address this additional budget problem as part of the 2024 ‑25 budget process. (This would add to the double ‑digit budget problem for 2024 ‑25 already projected under both our and the administration ’s estimates, as we describe below.)
https://lao.ca.gov/Publications/Report/4772