November 1995 California Update

Contact--Donna Watins Olsson--(916) 445-8641 Economic and Revenue Developments General Fund revenues in October exceeded the budget estimate by $143 million, reflecting gains from each of the major taxes (personal income, sales, and bank and corporation).
https://lao.ca.gov/1995/cal_update/cup1195.html

May 1995 California Update

Another $4.5 billion (nearly 20 percent) of the savings come from reducing taxes on capital gains. Other major provisions reduce taxes on marrie d couples, social security and estates, and also provide certain corporate tax reductions.
https://lao.ca.gov/1995/cal_update/cup595.html

1995 August California Update

State General Fund revenues were up $216 million in July, reflecting higher-than-expected receipts from the sales and use tax (up $188 million) and personal income taxes (up $61 m illion). The sales tax gain, however, is temporary.
https://lao.ca.gov/1995/cal_update/cup895.html

^[PDF] 1996 Cal Facts: STATE SPENDING

The low rate of state spending growth for K-12 educa- tion reflects budget actions that increased school’s share of local property taxes in order to reduce state school funding required under Proposition 98.
https://lao.ca.gov/1996/011696_calfacts/cf96ch5.pdf

State Tax Expenditures -- Over One-Third of

State Tax Expenditures -- Over One-Third of Direct Expenditures 1991-92 Tax expenditure programs (TEPs) are the various tax exclusions, exemptions, preferential tax rates, credits, and deferrals which reduce the amount of revenues collected from the st ate's "basic " tax structure.
https://lao.ca.gov/1996/011696_calfacts/cf96d.html

^[PDF] 50 years of service Policy Brief Reversing the Property Tax Shifts

Redevelopment Agencies $200 Agencies lost 15 percent of gross property taxes. Shift sunset in 1993-94. $65 Shift amounts allocated in proportion to agency prop- erty taxes, net of taxes passed through to other agen- cies.
https://lao.ca.gov/1996/040296_prop_tax_shifts/pb040296.pdf

Reforming the Prison Industry Authority

Privatize the PIA as an independent, nonprofit, tax-exempt organization, free it of existing constraints so that it could become more entrepreneurial and create new forms of priv ate-sector partnerships.
https://lao.ca.gov/1996/043096_pia/pb042996.html

Property Taxes: Why Some Local Governments Get More Than Others

Unlike the income and sales taxes, however, property taxes are used exclusively for local purposes. All property taxes are allocated to local governments within the county in which the tax is collected.
https://lao.ca.gov/1996/082196_prop_taxes/property_tax_differences_pb82196.html

^[PDF] The 1996-97 Budget Act and Related Legislation

This tax cut is in lieu 11 The 1996-97 Budget Package of the Governor’s proposal for a phased 15 percent reduction in both personal and corporation income tax rates. The enacted tax cut is projected to reduce revenues by $85 million in 1996-97, growing to $290 million when fully implemented in 1998-99.
https://lao.ca.gov/1996/100796_spend_plan/1996_spending_plan_1.pdf

^[PDF] Chapter 1 The Budget Outlook

Updated Budget Outlook for 1996-97 The 1996-97 Budget Act enacted in July pro- vided for major increases in education funding and a corporation tax cut, as well as a planned year-end reserve of $305 million.
https://lao.ca.gov/1996/112196_fiscal_outlook/outlook96_chapter_1.pdf