The 2019-20 Budget: Proposition 56 Revenues: Reductions in Fixed Allocations [Publication Details]

Feb 14, 2019 - In this post, we review the administration’s reductions to certain allocations of Proposition 56 tobacco tax revenue. In our view, the administration’s approach for 2019-20 is reasonable. However, the administration has not yet decided how these adjustments will be determined in 2020-21 and beyond.
https://lao.ca.gov/Publications/Detail/3939

The 2019-20 Budget: Natural Resources and Environmental Protection

Feb 14, 2019 - Moreover, the economy and tax base —both local and statewide —would be negatively affected by significant damage to certain key coastal infrastructure and other assets, such as ports, airports, railway lines, beaches and parks used for recreation, as well as high ‑technology companies located along the San Francisco Bay.
https://lao.ca.gov/Publications/Report/3933

The 2019-20 Budget: Proposition 98 Analysis

Feb 13, 2019 - Schools also can raise facility funding from various other sources, including parcel taxes, but they raise relatively small amounts from these other sources. Background on the Office of Public School Construction OPSC Is One of Several State Agencies Involved in Project Approval Process.
https://lao.ca.gov/Publications/Report/3930

The 2019-20 Budget: Analysis of the Medi-Cal Budget

Feb 13, 2019 - In this report, we describe the major changes and proposals in the Governor's proposed $100.7 billion (all funds) Medi-Cal budget.
https://lao.ca.gov/Publications/Report/3935

The 2019-20 Budget: Analysis of the Medi-Cal Budget [Publication Details]

Feb 13, 2019 - Specifically, we advise the Legislature to seriously consider renewing the managed care organization tax, despite the Governor not proposing to do so; present issues for consideration related to the Governor's proposed expansion of comprehensive Medi-Cal coverage for young adults regardless of immigration status; and provide an initial assessment of the Governor's proposals to use Proposition 56 funding in Medi-Cal to extend and expand provider payment increases.
https://lao.ca.gov/Publications/Detail/3935

Gauging Risk in Capital Gains Revenue Estimates [EconTax Blog]

Feb 12, 2019 - Gauging Risk in Capital Gains Revenue Estimates [EconTax Blog] Gauging Risk in Capital Gains Revenue Estimates February 12, 2019 Justin Garosi Revenue from taxation of capital gains is a major component of state personal income tax collections, making up 16 percent of total projected personal income tax revenues for 2018-19.
https://lao.ca.gov/LAOEconTax/Article/Detail/346

The 2019-20 Budget: The Governor's Individual Health Insurance Market Affordability Proposals

Feb 7, 2019 - Franchise Tax Board (FTB) Would Administer State Mandate. The administration has indicated that FTB, which administers the state ’s personal income tax, would implement the proposed state individual mandate penalty.
https://lao.ca.gov/Publications/Report/3927

December 2018 and January 2019 State Tax Collections [EconTax Blog]

Feb 6, 2019 - State and Local Tax (SALT) Deduction Created Incentive to Pay State Taxes by the End of the Year. Prior to 2018, all state and local tax payments could be deducted on federal tax returns. This tax deduction created an incentive for filers to pay their state taxes before the end of the calendar year.
https://lao.ca.gov/LAOEconTax/Article/Detail/345

The 2019-20 Budget: Structuring the Budget: Reserves, Debt and Liabilities

Feb 5, 2019 - Revenues from taxes and fees are the major sources of available resources. The three largest sources of state revenues are the personal income tax (PIT), sales tax, and corporation tax. While some revenue sources, like the sales tax, grow relatively steadily from one year to the next, the PIT is quite volatile —in most years growing by billions of dollars and in some years shrinking by billions of dollars.
https://lao.ca.gov/Publications/Report/3925

Need-Based Financial Aid Award Amounts [EdBudget]

Jan 16, 2019 - The Cal Grant B Access Award consists of a statutory amount funded by state General Fund ($1,648) and a supplemental amount funded by the College Access Tax Credit. The size of the supplement each year depends on the level of tax credit funds.
https://lao.ca.gov/Education/EdBudget/Details/228