Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

Local Sales Tax Rebates in 2023-24

Sep 16, 2025 - At the other end of the spectrum, in many counties —mostly less populous counties outside of the state ’s major metropolitan areas —no jurisdictions paid any rebates in 2023-24. …But Largest Payments Concentrated in a Few Jurisdictions.
https://lao.ca.gov/Publications/Report/5074

Managing California’s Cash

Sep 3, 2019 - After a period of relative calm in the mid ‑ and late ‑1990s, California faced another series of years with acute budget problems following the dot ‑com bust and ensuing recession. Although the dot ‑com bust was relatively mild in economic terms, it hit the California budget —which is particularly reliant on the Bay Area ’s technology sector —especially hard.
https://lao.ca.gov/Publications/Report/4092

The 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - Incentives Outside the U.S. Are Becoming Common, More Generous. California ’s competition for motion picture production is increasingly coming from outside the United States. In particular Australia, Canada, and the United Kingdom have tax credits and incentives that are more generous than most similar incentives in the United States.
https://lao.ca.gov/Publications/Report/5000

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943

The 2017-18 Budget: Governor's Gann Limit Proposal

Mar 2, 2017 - As revenues surged during the dot ‑com boom of the late 1990s, however, the state approached the limit. The state had excess revenues in 1999 ‑00, but because appropriations were under the limit in 2000 ‑01, additional Proposition  98 spending and taxpayer rebates were not required.
https://lao.ca.gov/Publications/Report/3596

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - Due to the state ’s precarious budget condition, the bar for new spending outside of core responsibilities should be quite high. If the Legislature wants to expand support for commercial activities, other programs provide more promising opportunities.
https://lao.ca.gov/Publications/Report/5018

Overview of Diversity Efforts in the Film Tax Credit Program

May 1, 2025 - However, the array of interventions and the range of acceptable goals and methods, including the use of external partners to administer programs makes it difficult to provide a detailed evaluation of individual initiatives outside of broad comparisons of film tax credit recipients to the workforce more generally.
https://lao.ca.gov/Publications/Report/5036

Biannual Report on Truck Deliveries

Dec 1, 2021 - The buyer uses the truck exclusively outside of California or exclusively in interstate or foreign commerce. Statutory Reporting Requirement. Assembly Bill  321 directs our office to submit a biannual report measuring the number of truck deliveries affected by the new exemption.
https://lao.ca.gov/Publications/Report/4479