State Spending Plan for 1996-97 - Chapter 2

The below-average growth in transportation spending reflects the modest increases in transportation-related tax revenues, which occurred despite the gas-tax increas es approved by voters in 1990.
https://lao.ca.gov/1996/100796_spend_plan/96spendplan_ch2.html

State Spending Plan for 1996-97 - Chapter 3, Part II

Revenues Tax Legislation As noted previously, the two main tax-related measures passed by the Legislature and signed by the Governor are a bank and corporation tax rate cut (AB 3499) and a package of targeted tax cuts partially offset by various federal conformity provisions (SB 38).
https://lao.ca.gov/1996/100796_spend_plan/96spendplan_ch3b.html

^[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

California's Fiscal Outlook 1996-97 Through 1998-99 Chapter 3

Personal Income Tax The personal income tax (PIT) is the single largest General Fund revenue source, accounting for nearly 47 percent of total revenues in 1996-97. This tax has marginal tax rates from 1 percent to 9.3 percent.
https://lao.ca.gov/1996/112196_fiscal_outlook/outlook96_chapter_3.html

^[PDF] Chapter 3 Revenue Projections

We project that sales and use Bank and Corporation Taxes Bank and corporation taxes are the third largest General Fund revenue source, accounting for about 12 percent of total projected revenues in 1996-97.
https://lao.ca.gov/1996/112196_fiscal_outlook/outlook96_chapter_3.pdf

California's Fiscal Outlook 1996-97 Through 1998-99 Chapter 5

Proposition 98 spending depends on the growth in personal income, General Fund and local property tax revenues, total state population, and K-12 student attendance. Over the forecast period, we estimate that Proposition  98 will absorb a large proportion (over 60  percent) of new General Fund revenues each year.
https://lao.ca.gov/1996/112196_fiscal_outlook/outlook96_chapter_5.html

California Update, August 1996

Sales tax payments were up $54  million during July. Corporation tax receipts were up $32  million for the month. August is projected to be a mid-sized month as regards revenue receipts, with $3.2 billion expected.
https://lao.ca.gov/1996/cal_update/aug_96_calupdate.html

December 1996 California Update

Of this adjusted total, about $269 million is due to higher-than-expected personal income taxes, reflecting stronger-than-expected withholding and quarterly estimated payments. About $178 million of the remaining increase is due to unusually large estate tax payments, a large portion of which will be accrued back to 1995-96.
https://lao.ca.gov/1996/cal_update/dec_96_calupdate.html

^[PDF] UPDATE DECEMBER 1996

Of this adjusted total, about $269 million is due to higher-than-expected personal income taxes, reflecting stronger- than-expected withholding and quarterly es- timated payments. About $178 million of the remaining increase is due to unusually large estate tax payments, a large portion of which will be accrued back to 1995-96.
https://lao.ca.gov/1996/cal_update/dec_96_calupdate.pdf

September 96 California Update

September is a major month for tax collections, as it includes quarterly estimated payments from both individuals and corporations as well as a variety of other key pay ments. Coll ections for this period should provide the first significant indication of how the underlying trend in revenues during 199697 compares to that assumed in the 1996 Budget Act.
https://lao.ca.gov/1996/cal_update/sept_96_calupdate.html