The 2020-21 Budget: Overview of the Governor's Budget [Publication Details]

Jan 13, 2020 - The Governor allocates most of the surplus toward one-time purposes, including maintaining a positive year-end balance in the state’s discretionary reserve. Under the administration’s estimates, total reserves would reach $20.5 billion at the end of 2020-21—this represents a $1.7 billion increase from the 2019-20 enacted level.
https://lao.ca.gov/Publications/Detail/4135

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - Most of the variance is explained by the PIT, where we are $3.7 billion higher than the administration over the three fiscal years combined. Most of that difference appears to be in capital gains and wages.
https://lao.ca.gov/Publications/Report/3830

The 2017-18 Budget: The Board of Equalization

Mar 7, 2017 - Year-by-year budgeting is a standard practice to help the Legislature conduct meaningful oversight over major IT projects. To implement this recommendation, the Legislature would need to reject the provisional language allowing the administration to spread vendor payments across multiple fiscal years (Provisions 5 and 6 under BOE ’s General Fund appropriation in the budget bill).
https://lao.ca.gov/Publications/Report/3609

Taxation of Sugary Drinks [Publication Details]

Nov 26, 2018 - Taxation of Sugary Drinks [Publication Details] HTML Description: Taxes on sugary drinks have become increasingly common in recent years. In June 2018, the Legislature passed a law (Chapter 61 of 2018 [AB 1838, Committee on Budget]) prohibiting local governments from levying such taxes (and other taxes on groceries) through 2030.
https://lao.ca.gov/Publications/Detail/3903

The 2019-20 Budget: California Spending Plan—Expands Earned Income Tax Credit (EITC)

Oct 17, 2019 - As in the prior year, the budget package also includes $10 million for education and outreach to expand awareness of the EITC. This post describes each of the three changes. The administration coupled the EITC expansion with changes to other tax provisions that increased tax revenue.
https://lao.ca.gov/Publications/Report/4099

The 2017-18 Budget: Evaluating the State-County Assessors' Partnership Agreement Program [Publication Details]

Mar 27, 2017 - In this report, we look at data from the first two years of SCAPAP and attempt to gauge the program’s effect on property tax revenues. Our analysis suggests the effect of SCAPAP on property taxes has been modest.
https://lao.ca.gov/Publications/Detail/3632

The 2014-15 Budget: Pilot Program to Improve Property Tax Administration [Publication Details]

Mar 13, 2014 - In this report, we provide an overview of local property tax administration and review the administration's proposed three-year pilot program to improve tax administration and generate state General Fund savings.
https://lao.ca.gov/Publications/Detail/2974

Statewide Minimum Wage Increasing in January

Dec 6, 2016 - They will apply to employers with fewer than 26 employees one year later.) Most Local Minimum Wages Are Slightly Narrower Than The State ’s. Very few employees are exempt from the statewide minimum wage.
https://lao.ca.gov/Publications/Report/3512

The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - If investors hold on to the investment for multiple years, their tax liability on their deferred capital gains can be reduced. In addition, investors that maintain their investment for at least ten years will not be taxed on any capital gains earned on their Opportunity Zone investment.
https://lao.ca.gov/Publications/Report/4038

The 2018-19 Budget: The Administration’s Proposition 55 Estimates [Publication Details]

Mar 1, 2018 - In 2018-19, the first year of implementation of this calculation, the administration’s interpretations and estimates result in no additional funds to Medi-Cal. Two key choices lead to this result. First, the administration’s decision to subtract $3.5 billion from available revenues to account for its proposed optional reserve deposit significantly reduces the calculation’s starting point, eliminating a surplus that would have directed funds to Medi-Cal.
https://lao.ca.gov/Publications/Detail/3765