November 2022 Cap-and-Trade Auction Update [EconTax Blog]

Dec 14, 2022 - The preliminary auction results exceed the amount the 2022-23 budget package assumed would be raised in this auction —$711 million, which reflected the administration ’s projections —by about $250 million.
https://lao.ca.gov/LAOEconTax/Article/Detail/763

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The remaining $711  million supports anticipated spending increases from growth in the Medi ‑Cal program between 2016 ‑17 and 2017 ‑18. The budget package also provides up to $800  million in these revenues for increases in provider payments in 2018 ‑19, but these future amounts may be adjusted by the Department of Finance based on the state ’s fiscal condition.
https://lao.ca.gov/Publications/Report/3694/1

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The 2017-18 Budget: California Spending Plan Revenue dedicated to fund growth in existing Medi-Cal program $711 Total $1,257 a Physician and dental services provider payments could be increased to up to about $720 million in 2018-19 (bringing total 2018-19 Proposition 56 funding for increased provider payments to $800 million).
https://lao.ca.gov/Publications/Report/3694/6

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - This represents a decrease from the $ 711  m illion in Proposition   56 r evenue that offset General Fund spending in Medi ‑Cal in 2017 ‑18. The reduced Proposition  56 General Fund offset accounts for nearly $ 500  m illion of the year ‑over ‑year $2. 6  b illion increase in General Fund Medi ‑Cal spending between 2017 ‑18 and 2018 ‑19.
https://lao.ca.gov/Publications/Report/3870/6

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

^[PDF] General Fund Condition

. -4- 260 Statement to the Special Committee on Community Colleges November 8, 1983 THE NET INCREASE OF $943 MILLION IN PROJECTED EXPENDITURES IS DUE TO THE FOLLOWING FACTORS: t AN INCREASE IN EXPENDITURES DEFERRED FROM 1982-83 ($73 MILLION); 1 CHAPTERED LEGISLATION ($711 MILLION).
https://lao.ca.gov/reports/1983/general_fund_condition.pdf

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091