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

Mar 9, 2026 - The three minor downturns  (1981, 1987, and 1990) led to income tax declines of less less than 10 percent (average of 5 percent), with revenues recovering quickly. The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent).
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The three minor downturns  (1981, 1987, and 1990) led to income tax declines of less less than 10 percent (average of 5 percent), with revenues recovering quickly. The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent).
https://lao.ca.gov/LAOEconTax/article/Detail/852

^[PDF] Overview of California’s Master Plan for Higher Education

Instead, they are reports com- missioned by the Legislature and in some cases endorsed by individual legislators. • Many significant principles expressed by the Master Plan have been adopted in statute.
https://lao.ca.gov/handouts/education/2005/Master_Plan_Overview_022205.pdf

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

LAO 2004 Budget Analysis: Intersegmental: Higher Education Admissions and Enrollment

In this section, we have recommended a series of admissions-related steps the Legislature can take to preserve the Master Plan's com mitment to access with limited resources. In another section of this chapter, we examine the state's outreach programs.
https://lao.ca.gov/analysis_2004/education/highered_04_enrollment_anl04.htm

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

Jan 20, 2026 - To fund its operations, the measure authorizes the commission to levy annual assessments on public benefit AI companies equal to 1 to 2 percent of their California gross revenue. Allows New Civil and Criminal Penalties and Private Enforcement.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

Building Reserves to Prepare for a Recession

Mar 7, 2018 - This would consist of two amounts: $13. 5  b illion in the BSA and $2. 3  b illion in the SFEU. The administration currently estimates a very small “true down ” to the BSA in 2017 ‑18, although that may change at the time of the May Revision.
https://lao.ca.gov/Publications/Report/3769

^[PDF] HMOs and Rural California

In those rural areas where these steps are not enough to attract HMOs, we identify ways com- munities can develop their own health care sys- tems based on the experience of one rural California county. ■ August 8, 2002 2 L E G I S L A T I V E A N A L Y S T ’ S O F F I C E A N L A O R E P O R T INTRODUCTION How and Why the LAO Conducted This Study Chapter 208,
https://lao.ca.gov/2002/hmos_rural_ca/8-02_hmos_rural_ca.pdf

^[PDF] Economic and Budget Developments

The budget also includes a 5 percent reduction in bank and corporation taxes, beginning in January 1997. Governor's Vetoes. Befor~ signing the bud- get, the Governor vetoed $80 million in General Fund expenditures and $2 million in expendi- tures from special funds.
https://lao.ca.gov/reports/1996/update_california_7-1996.pdf

^[PDF] California Redistricting Commission Amendment, Amendment No. 2-S

The measure requires the Legislature to appropriate funds necessary for the com- mission to carry out its responsibilities, as well as compensation and expense reim- bursement for members of the commission.
https://lao.ca.gov/ballot/1999/991002_INT.pdf