SB 1 Has Doubled Major Source of State Funding for Local Streets and Roads

Jan 24, 2020 - SB 1 Provides More Shared Revenues for Local Streets and Roads Increased Fuel Taxes and New Vehicle Fees. Among other changes, SB  1 increased existing fuel taxes and created two new vehicle fees. Three of the fuel tax increases went into effect on November 1, 2017 and include a (1)  12 cent per gallon increase to the gasoline excise
https://lao.ca.gov/Publications/Report/4142

The 2020-21 Budget: School District Budget Trends

Jan 21, 2020 - Smaller districts, districts that receive most of their funding from local property tax revenue ( “basic aid ” districts), and districts that can demonstrate “extraordinary fiscal circumstances ” are exempt from the cap.
https://lao.ca.gov/Publications/Report/4136

Financial Aid Award Amounts [EdBudget]

Jan 16, 2020 - Students who receive the Cal Grant B Access Award also receive a supplemental award funded by the College Access Tax Credit. The proposed size of the supplement is $24 in 2020-21. We estimate the UC Grant nontuition award based on the average undergraduate cost of attendance, less systemwide tuition and fees and a self-help expectation.
https://lao.ca.gov/Education/EdBudget/Details/353

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Recently, corporation tax collections have grown faster than anticipated while personal income tax collections have grown somewhat slower. The administration assumes that this pattern will continue. This is because they attribute the pattern to partnerships, which are taxed under the personal income tax, changing to corporations in response to 2017 federal tax changes.
https://lao.ca.gov/Publications/Report/4135

Assessing Vulnerability of State Assets to Climate Change

Jan 9, 2020 - To what extent could there be broader financial or economic impacts from major climate-caused disasters, such as impacts on regional economies and tax revenues? Beyond Assessment —Development and Implementation of Adaptation Plans.
https://lao.ca.gov/Publications/Report/4133

Assessing California’s Climate Policies—Electricity Generation

Jan 6, 2020 - The federal government offers tax credits for wind and solar that likely were factors contributing to the increase in renewables. For example, in 2006, the federal government implemented a solar investment tax credit offering a tax deduction of up to 30  p ercent of the cost of the solar system.
https://lao.ca.gov/Publications/Report/4131

Proposed Constitutional and Statutory Measure Related to Gaming [Ballot]

Jan 3, 2020 - Imposes a Sports Wagering Tax. The measure imposes a 10 percent tax on horse racing tracks offering sports wagering. The tax is applied to the amount of sports wagers made daily after deducting any payouts of winnings.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-029

Psilocybin [Ballot]

Dec 26, 2019 - The measure exempts psilocybin sold for religious, therapeutic, or medical purposes from sales taxes. Psilocybin sold for other purposes would be subject to state and local sales taxes. Fiscal Effects Below, we discuss various fiscal effects of the measure.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-027

Disposal and Recycling of Single-Use Plastic Packaging and Foodware. [Ballot]

Dec 26, 2019 - Creates a New Tax on Plastic Packaging and Foodware Creates New Tax Beginning in 2022. This measure creates a new tax on each individual item of single-use plastic packaging and foodware sold in California beginning in 2022.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-028

November 2019 State Tax Collections [EconTax Blog]

Dec 18, 2019 - November 2019 State Tax Collections [EconTax Blog] Seth Kerstein Overall, November revenue collections from the state ’s three largest taxes —the personal income tax (PIT), corporation tax, and sales tax —fell $362  million below projections in November.
https://lao.ca.gov/LAOEconTax/Article/Detail/421