Proposed statutory initiative related to the cultivation, sale, and use of cannabis. [Ballot]

Oct 8, 2019 - Reduction in State and Local Tax Revenues Due to Limits on Taxes. The measure would result in lower state and local tax revenues, likely in the mid-to-high hundreds of millions of dollars annually. This net reduction in tax revenue is driven prim arily by two factors.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-010

Proposed statutory initiative related to the cultivation, sale, and use of cannabis. [Ballot]

Oct 8, 2019 - Reduction in State and Local Tax Revenues Due to Limits on Taxes. The measure would result in lower state and local tax revenues, likely in the mid-to-high hundreds of millions of dollars annually. This net reduction in tax revenue is driven prim arily by two factors.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-011

Taxation of commercial property. [Ballot]

Oct 2, 2019 - Property Taxes Are Based on a Property ’s Purchase Price. Each property owner ’s annual property tax bill is equal to the taxable value of their property multiplied by their property tax rate. Property tax rates are capped at 1  percent plus smaller voter-approved rates to finance local infrastructure.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-008

August 2019 State Tax Collections [EconTax Blog]

Sep 20, 2019 - August 2019 State Tax Collections [EconTax Blog] Carolyn Chu August Revenues Slightly Below Projections. As seen in the figure below, August revenue collections across the state ’s three largest revenue sources —personal income tax (PIT), corporation tax, and sales tax —fell almost $380 million below projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/401

Need-Based Financial Aid Award Amounts [EdBudget]

Sep 18, 2019 - Students who receive the Cal Grant B Access Award also receive a supplemental award funded by the College Access Tax Credit. The size of the supplement is $24 in 2019-20. The UC Grant covers both tuition and nontuition expenses after applying a student self-help expectation and counting all other financial aid.
https://lao.ca.gov/Education/EdBudget/Details/315

Pretrial release and bail. [Ballot]

Sep 4, 2019 - Bail Bond Industry Taxes. By maintaining the ability to provide bail to obtain pretrial release, this measure would allow the state to continue collecting tax revenue from the bail bond industry. This reduces the amount of revenue that would otherwise have been lost under SB  10.
https://lao.ca.gov/BallotAnalysis/Initiative/2019-006

Managing California’s Cash

Sep 3, 2019 - As a state government, California has the power to levy taxes and cannot declare bankruptcy. These factors make the state a reliable borrower. Nonetheless, the state cannot access a credit market that is either unwilling or unable to lend to it.
https://lao.ca.gov/Publications/Report/4092

Evaluating Tax Expenditures [EconTax Blog]

Aug 29, 2019 - Evaluating Tax Expenditures [EconTax Blog] Seth Kerstein What Are Tax Expenditures? Tax Provisions Intended to Accomplish A Public Policy Goal. Tax expenditures are provisions of tax law that enable targeted groups to reduce their taxes relative to the “basic ” tax structure.
https://lao.ca.gov/LAOEconTax/Article/Detail/396

The Quiet Transformation in California’s Cash Management

Aug 29, 2019 - Corporations issue commercial paper to finance their receivables while many U.S. state and local governments —especially those with back-loaded revenue collections (such as California) —issue tax revenue anticipation notes.
https://lao.ca.gov/Publications/Report/4091

Cannabis Tax Revenue Update [EconTax Blog]

Aug 22, 2019 - Cannabis Tax Revenue Update [EconTax Blog] Seth Kerstein In November 2016, California voters approved Proposition 64 , which legalized the nonmedical use of cannabis. The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax.
https://lao.ca.gov/LAOEconTax/Article/Detail/395