The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - Separate from his proposals to pay down the CalSTRS unfunded liability, the Governor proposes providing $ 700  m illion over the next two years ($ 350  m illion per year) to provide school and community college districts immediate budget relief.
https://lao.ca.gov/Publications/Report/3916

Evaluation of a Sales Tax Exemption for Certain Manufacturers

Dec 11, 2018 - As described above, each purchaser can apply the partial exemption to no more than $ 200  m illion worth of purchases per year —equivalent to $ 8  m illion of tax exemptions. Like the prior option, this one would strengthen investment incentives but result in larger revenue losses.
https://lao.ca.gov/Publications/Report/3907

Taxation of Sugary Drinks

Nov 26, 2018 - Tax Likely Would Increase Funding Requirement for Schools. Proposition  98, approved by voters in 1988 and modified in 1990, establishes a minimum funding level for schools and community colleges. This minimum guarantee depends, in part, on General Fund tax revenues.
https://lao.ca.gov/Publications/Report/3903

Taxation of Sugary Drinks [Publication Details]

Nov 26, 2018 - Taxation of Sugary Drinks [Publication Details] HTML Description: Taxes on sugary drinks have become increasingly common in recent years. In June 2018, the Legislature passed a law (Chapter 61 of 2018 [AB 1838, Committee on Budget]) prohibiting local governments from levying such taxes (and other taxes on groceries) through 2030.
https://lao.ca.gov/Publications/Detail/3903

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - As a result, all exemptions from the property tax —like those for public schools —are constitutionally provided. Legislature Established PTP in 1977. Following the voters ’ approval of Proposition   13 i n 1976, the Legislature established PTP in statute in 1977.
https://lao.ca.gov/Publications/Report/3885

The 2018-19 Budget: The Administration's Proposition 55 Estimates in the May Revision

May 22, 2018 - First, the measure directs DOF to estimate the upcoming year ’s available revenues. Second, it subtracts from this total the constitutional minimum funding level for schools and community colleges. Third, the formula then subtracts an estimate of the “workload budget ” costs of government services that were “currently authorized ” as of January 1, 2016.
https://lao.ca.gov/Publications/Report/3844

The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion

May 14, 2018 - In addition, if they do not have a qualifying child, eligible filers must be at least age 25 and younger than age 65. Governor ’s Proposal Expand EITC to Close Age Gaps and Compensate for Rising Minimum Wage.
https://lao.ca.gov/Publications/Report/3835

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - Both our outlook and the Department of Finance ’s new economic forecast assume moderate growth over the next year or so. One key difference between our office and the administration is that our economic scenario assumes notably higher wage and salary growth in 2018 and 2019.
https://lao.ca.gov/Publications/Report/3829

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - Most of the variance is explained by the PIT, where we are $3.7 billion higher than the administration over the three fiscal years combined. Most of that difference appears to be in capital gains and wages.
https://lao.ca.gov/Publications/Report/3830

The 2018-19 Budget: California Earned Income Tax Credit Education and Outreach

May 8, 2018 - In addition, eligible filers must be a U.S. citizen or resident alien and be at least age 25 if they do not have a qualifying child (these last two restrictions are based on the federal EITC). California Expanded State EITC in 2017.
https://lao.ca.gov/Publications/Report/3826