Los Angeles' Bid for the 2024 Olympics and Paralympics

Nov 10, 2016 - To offset Games –related operating costs, the city approved a 6  percent Olympic ticket tax (generating $8.7  million) and a 0.5  percent hotel tax surcharge (generating $9  million), which went into effect in 1978.
https://lao.ca.gov/Publications/Report/3506

Housing and Economic Mobility [EconTax Blog]

Oct 10, 2016 - Follow @LAOEconTax on Twitter for regular California economy and tax updates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/212

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The above augmentations are partially offset by a $34  million reduction in General Fund support for trial court operations in 2016 –17 in order to reflect the availability of property tax revenue in accordance with Control Section 15.45 and Section 2578 of the Education Code.
https://lao.ca.gov/Publications/Report/3487/10

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The General Fund is the state 's main operating account where most state tax revenues are deposited. You can think of it as being similar to a general purpose checking account that a household uses to pay its bills.
https://lao.ca.gov/Publications/Report/3487/12

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Reflects MCO Tax Funding That Resulted From Special Session. Chapter  2 of the 2015 –16 Second Extraordinary Session (SB2X  2, Hernandez), imposes a revised MCO tax on most managed care plans. Revenues from the MCO tax are used, in part, to create General Fund savings in Medi –Cal .
https://lao.ca.gov/Publications/Report/3487/6

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - This increase is due to College Access Tax Credit Fund revenues growing from $1.8  million in 2015 –16 to $5.1  million in 2016 –17 . Additionally, the budget increases the amount of federal TANF supporting Cal Grants by $405  million and decreases General Fund by the same amount.
https://lao.ca.gov/Publications/Report/3487/5

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Budget –related legislation also provides additional guidance on the structure of the CVRP, including specifying maximum income eligibility limits for electric vehicles ($150,000 for an individual tax filer and $300,000 for joint filers) and directing the ARB to increase the rebate amounts by $500 for low –income households. $80  million for the Enhance Fleet Modernization
https://lao.ca.gov/Publications/Report/3487/8

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - The state ’s “Big Three ” General Fund taxes —the personal income tax, sales and use tax, and corporation tax —are assumed to increase at a slightly higher rate (4.2  percent). The difference between these growth rates is attributable to a decline in other revenues.
https://lao.ca.gov/Publications/Report/3487

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Increase Covered About Evenly From Higher State General Fund and Local Property Tax Revenue. Of total Proposition  98 funding in 2016 –17 , $51.1  billion is state General Fund and $20.8  billion is local property tax revenue.
https://lao.ca.gov/Publications/Report/3487/3

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Restores IHSS Hours From 7  Percent Reduction With General Fund Tied to MCO Tax. The spending plan includes $266   million General Fund to restore the service hours associated with the IHSS 7   percent reduction in service hours with General Fund for as long as the recently passed MCO tax is in place.
https://lao.ca.gov/Publications/Report/3487/7