Long-term Capacity for Debt Payments Under Proposition 2

Dec 21, 2017 - True Up Provisions. Under Proposition  2 ’s “true up ” provisions, the state reevaluates the estimate of Proposition  2 requirements twice: once in each two subsequent budgets. Under these reevaluations, the rainy day fund deposit is revised up (down) if capital gains taxes were higher (lower) than the state ’s prior estimates.
https://lao.ca.gov/Publications/Report/3727

Evolution of the Balance of the Budget Stabilization Account

Nov 14, 2018 - For example, the $2  billion optional deposit made in 2016 ‑17 was used to fund estimated true-up deposits for 2015 ‑16 and 2016 ‑17. As Figure  1 shows, this means that $500  million of the initial $2  billion deposit is “constitutionally required ” (under the true-up provisions) and the remainder is optional.
https://lao.ca.gov/Publications/Report/3900

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Supplemental Pensions Payments Employers May Contribute Any Amount of Money Above What Is Required. Pension boards determine —either according to actuarial standards or statutory requirements —how much money employers must contribute to the pension system each year to address any existing unfunded liabilities.
https://lao.ca.gov/Publications/Report/4887

Unit 2 (Attorneys) MOU Analysis

Aug 25, 2022 - If the provisions of the agreement that affect rank-and-file pay were to be extended to the employees affiliated with Unit 2 who are excluded from collective bargaining, we estimate that the state ’s annual costs would increase by roughly $15  million (less than $5  million from the General Fund).
https://lao.ca.gov/Publications/Report/4619

The 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - Figure 5 shows how our recommendation could work. For example, suppose in some year CalSTRS experiences an annual return of 3  p ercent —which is lower than the assumed rate of 7  p ercent. To make up for this actuarial loss, the board would need to increase the state ’s rate by approximately 2  p ercent of pay, but under law could only raise the rate by 0. 5  p ercent of pay each year over four years.
https://lao.ca.gov/Publications/Report/4196

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Figure 1 True Up Provisions. Under Proposition  2 ’s “true up ” provisions, the state reevaluates the BSA estimate twice: once in each two subsequent budgets. Under these reevaluations, the state revises the BSA deposit up or down if capital gains taxes were higher or lower than the state ’s prior estimates.
https://lao.ca.gov/Publications/Report/4418

The 2026-27 Budget: Community College Facilities

Mar 17, 2026 - The Chancellor ’s Office may designate up to 50  percent of state funding each year for life safety projects, though the amount needed to fund all project proposals in this category is typically much lower.
https://lao.ca.gov/Publications/Report/5159

Unit 2 (Attorneys) MOU Analysis [Publication Details]

Aug 25, 2022 - Unit 2 (Attorneys) MOU Analysis [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4619

The 2026-27 Budget: Community College Facilities [Publication Details]

Mar 17, 2026 - This post assesses the Governor’s proposals to fund the second batch of community college capital outlay projects under Proposition 2, an education facilities bond.
https://lao.ca.gov/Publications/Detail/5159

The 2025-26 Budget: Community College Facilities

Mar 18, 2025 - The Chancellor ’s Office may designate up to 50  percent of state funding each year for life safety projects, though the amount needed to fund all project proposals in this category is typically much lower.
https://lao.ca.gov/Publications/Report/5017