Home Sales Update: May 2021 [EconTax Blog]

Jun 24, 2021 - 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 causing buyers to balk.
https://lao.ca.gov/LAOEconTax/Article/Detail/669

Home Prices Update: May 2021 [EconTax Blog]

Jun 24, 2021 - All the other large counties in the state are up at least 10 percent, and all but three of those are up at least 15 percent. Source: Zillow
https://lao.ca.gov/LAOEconTax/Article/Detail/668

May 2021 Jobs Report [EconTax Blog]

Jun 18, 2021 - California leisure/hospitality employment continued to rebound from the sharp drops in December and January, although it rem ains far more depressed than its national counterpart as the state was generally slower to lift pandemic-related restrictions than other states were.
https://lao.ca.gov/LAOEconTax/Article/Detail/667

Juvenile dependency proceedings. [Ballot]

Jun 17, 2021 - In addition, some or all of the county costs resulting from increased workload could potentially be shifted to the state. This is beca use the California Constitution generally requires that the state fund child welfare-related cost increases resulting from state legislation.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-004

The 2021-22 May Revision—Child Welfare Budget Proposals

Jun 11, 2021 - Updated TBL Continues to Express State ’s Intent to Opt Into FFPSA Part I. The TBL also includes language expressing the state ’s intent to opt into FFPSA Part I, which will allow the state to begin claiming Title IV-E dollars for eligible prevention services once in compliance with Part IV.
https://lao.ca.gov/Publications/Report/4444

California Venture Capital Funding, 1st Quarter 2021 [EconTax Blog]

Jun 10, 2021 - The state has always attracted a disproportionate share of nationwide VC funding, and in fact its VC funding has generally been close to the other 49 states combined since 2008. The past quarter was no exception, as the rest of the country had a similar surge with more than half of the total go ing to New York and Massachusetts.  
https://lao.ca.gov/LAOEconTax/Article/Detail/665

California New Business Creation: May 2021 [EconTax Blog]

Jun 10, 2021 - California New Business Creation: May 2021 [EconTax Blog] California New Business Creation: May 2021 June 10, 2021 Brian Uhler The extent of new business creation in California can be a useful gauge of the health of the state ’s economy.
https://lao.ca.gov/LAOEconTax/Article/Detail/664

Building Permits Update: April 2021 [EconTax Blog]

Jun 9, 2021 - This is also the first time since 2007 that the state has had two straight months over 6,000 units. Single family activity has rebounded strongly since last spring ’s pandemic-driven slump, as prices have risen sharply in most of the state ’s metropolitan areas.
https://lao.ca.gov/LAOEconTax/Article/Detail/663

Examining California's Income Tax Withholding Growth by Sector [EconTax Blog]

Jun 9, 2021 - In contrast, manufacturing (which has 1.25 million employees in the state) is split among 21 different 3-digit NAICS codes, including the computer equipment and vehicles/aircraft subsectors that both made the top ten.
https://lao.ca.gov/LAOEconTax/Article/Detail/662

Involuntary Servitude [Ballot]

Jun 9, 2021 - The State Constitution specifies that, “Involuntary servitude is prohibited except to punish crime. ” However, the State Constitution does not define involuntary servitude. Proposal This measure amends the State Constitution to make involuntary servitude prohibited in all cases, including as a punishment for crime.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-003