Major Actions on Tax Provisions [Publication Details]

May 31, 2018 - Major Actions on Tax Provisions [Publication Details] 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/Publications/Detail/3851

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

May 30, 2018 - Leave is cashed out based on employees ’ current hourly pay rate and is subject to Medicare payroll taxes but does not affect employees ’ pension benefits. To date, the California Department of Corrections and Rehabilitation (CDCR) has always determined that there were insufficient resources to offer a leave cash out.
https://lao.ca.gov/Publications/Report/3847

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

May 22, 2018 - Proposition  55 (2016) extended tax rate increases on high ‑income earners from 2018 until 2030 (which voters originally passed on a temporary basis in 2012 as part of Proposition  30). Revenues raised by the measure benefit the General Fund.
https://lao.ca.gov/Publications/Report/3844

The 2018-19 May Revision: LAO Multiyear State Budget Outlook

May 17, 2018 - LAO Estimates Assume No Reduction in Sales Tax Rates. California has two statutes that trigger reductions in the state ’s sales tax rate if balances in the SFEU reach a certain threshold. Under either statute, the state ’s sales tax rate automatically would decline by one-quarter cent for one calendar year, equal to around $1.7  billion, reducing the SFEU by the same amount.
https://lao.ca.gov/Publications/Report/3843

K-12 Education Programs Funded by Proposition 98 [EdBudget]

May 16, 2018 - Both 2017-18 and 2018-19 May Revision include downward adjustments for some LCFF costs covered by non-Proposition 98 property tax revenue (this adjustment accounts for the negative total in 2018-19). 
https://lao.ca.gov/Education/EdBudget/Details/145

2018-19 May Revision: Property Tax Estimates [EconTax Blog]

May 15, 2018 - 2018-19 May Revision: Property Tax Estimates [EconTax Blog] 2018-19 May Revision: Property Tax Estimates May 15, 2018 Local property taxes distributed to school and community college districts reduce the state ’s cost of meeting Proposition 98 school funding requirements.
https://lao.ca.gov/LAOEconTax/Article/Detail/284

The 2018-19 Budget: Analysis of the May Revision Education Budget Proposals

May 14, 2018 - (Our estimates of the other major sources of General Fund revenue —the sales tax and the corporation tax —together are somewhat lower than the administration ’s estimates, offsetting a small portion of our higher personal income tax estimates.)
https://lao.ca.gov/Publications/Report/3834

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

May 14, 2018 - The 2018-19 Budget: The May Revision—State Earned Income Tax Credit Expansion State Earned Income Tax Credit Expansion Background State Earned Income Tax Credit (EITC) Boosts Low-Income Households ’ Earnings.
https://lao.ca.gov/Publications/Report/3835

The 2018-19 Budget: The May Revision—California State Payroll System

May 14, 2018 - State employees cannot currently view their own data on payroll, employment history, leave balances, and tax information online. Instead, SCO prints and distributes paper checks, direct deposit advices, and W-2s.
https://lao.ca.gov/Publications/Report/3836

The 2018-19 Budget: Governor's May Revision Medi-Cal Budget

May 14, 2018 - General Fund savings from the MCO tax are offset by increases in plans ’ capitation payments owing to the tax. The May Revision estimates that net General Fund savings associated with the MCO tax are lower by $428  million over 2017 ‑18 and 2018 ‑19 as compared to the Governor ’s January budget.
https://lao.ca.gov/Publications/Report/3839