Federal Relief Funding for Higher Education [EdBudget]

Aug 6, 2021 - CSAC received funds for providing education and training grants to displaced workers, and SIB received funds to open college savings accounts for low-income public school children. CARES discretionary funds must be spent on costs incurred by December 31, 2021, while ARP discretionary funds must be spent on costs incurred by December 31, 2024.
https://lao.ca.gov/Education/EdBudget/Details/522

Financial Aid Award Amounts [EdBudget]

Aug 6, 2021 - The UC and CSU summer financial aid award amounts are calculated for a student enrolled in 15 units on a semester calendar. Students who receive the Cal Grant B Access Award also receive a supplemental award funded by the College Access Tax Credit (CATC).
https://lao.ca.gov/Education/EdBudget/Details/540

Financial Aid Award Coverage [EdBudget]

Aug 6, 2021 - Available for up to two calendar years. UC Grant Provides tuition and nontuition coverage for UC students. Aid is applied after Cal Grants. Available for up to six years of full-time study (or its equivalent).
https://lao.ca.gov/Education/EdBudget/Details/539

Building Permits Update: June 2021 [EconTax Blog]

Aug 5, 2021 - June is frequently a big month for multifamily, but that was not the case this year. Los Angeles County permitted the most units as usual, followed distantly by San Diego County. Nonresidential construction permit remains historically weak.
https://lao.ca.gov/LAOEconTax/Article/Detail/682

Home Prices Update: June 2021 [EconTax Blog]

Jul 28, 2021 - In the longer term, chronically high housing costs have hurt the state ’s business climate and been a key reason California loses residents to other states on net in most years. June 2021 data show rapidly accelerating home price growth in both California and the rest of the country over the past year: the typical home in California has appreciated 18.7 percent since June 2020, well above the national figure of 15.0 percent.
https://lao.ca.gov/LAOEconTax/Article/Detail/681

Home Sales Update: June 2021 [EconTax Blog]

Jul 28, 2021 - June is typically the most busy month of the year, and last month’s total of 40,755 sales was the highest monthly figure in at least a decade. Historically low mortgage rates, strong income growth among the state’s higher earners, and possibly the increased emphasis on working from home have contributed to the recent boom, although it now appears that the sharp increases in prices in most of the state may be tempering buyers’ enthusiasm to some extent.
https://lao.ca.gov/LAOEconTax/Article/Detail/680

Income Tax Withholding Tracker: July 1 - July 23 [EconTax Blog]

Jul 23, 2021 - Through the 21 st , federal withholding was up 15.8 percent from last year, slightly below the state ’s pace.  
https://lao.ca.gov/LAOEconTax/Article/Detail/679

Budget Pays Down School and Community College Deferrals [EdBudget]

Jul 21, 2021 - Budget Pays Down School and Community College Deferrals [EdBudget] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Education/EdBudget/Details/518

Proposition 98 Key Inputs and Outcomes Under 2021-22 Budget Package [EdBudget]

Jul 21, 2021 - a Excludes nontax revenues and transfers, which do not affect the calculation of the guarantee. b For calculating the guarantee, Chapter 24 of 2020 (SB 98, Committee on Budget and Fiscal Review) deems the change in attendance in 2020‑21 to be the same as the change in 2019‑20. c Reflects change in per capita income during the previous fiscal year. d Reflects change in per capita General Fund plus 0.5 percent. 
https://lao.ca.gov/Education/EdBudget/Details/517

California New Business Creation: June 2021 [EconTax Blog]

Jul 12, 2021 - The standard pattern within a year is for a surge of new business formation at the beginning, then gradual declines as the year goes on. This pattern was upended in 2020: the pandemic caused a big drop in the spring, followed by a surge as the economy began to recover.
https://lao.ca.gov/LAOEconTax/Article/Detail/676