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

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Of the $1.2  billion in awards made between 2021 and 2025, around $650  million, or over half, has been allocated to businesses in advanced manufacturing. This category covers subsectors such as electronics and semiconductors, aerospace, battery technology, and biotechnology.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - Actual spending on the Tobacco Licensing Program declined from $9.1  million in 2021 ‑22 to $6.9  million in 2024 ‑25, while actual spending on the Cannabis Tax Program grew from $8.4  million in 2021 ‑22 to $16.2  million in 2024 ‑25.
https://lao.ca.gov/Publications/Report/5132

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

Fixing Unemployment Insurance

Dec 2, 2024 - For example, if California had entered the pandemic with equivalently sized reserves, it still would have required a federal loan, but that loan would have reached $9  billion, rather than $20  billion.
https://lao.ca.gov/Publications/Report/4943

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - The budget package provides a blanket exemption for settlements related to any wildfire occurring between tax years 2021 and 2029. Previously, state law provided income tax exemptions for wildfire settlements on a case-by-case basis.
https://lao.ca.gov/Publications/Report/5081

The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - We estimate that repealing this exemption on October 1, 2020 would raise roughly $9  million General Fund in 2020 ‑21 and $11  million General Fund in 2021 ‑22. Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4238

The 2022-23 Budget: Federal Tax Conformity for Federal Business Assistance

Jan 26, 2022 - As of January 9, 2022, about 85 percent of the PPP loans nationwide have been forgiven. Restaurant Revitalization Fund (RRF). The RRF program was created in March 2021 to make grants to eligible restaurants, caterers, and bars that experienced a decline in revenue during the pandemic.
https://lao.ca.gov/Publications/Report/4501

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - We expect CT revenues in 2017-18 to be almost 9  percent higher than 2016-17. This increase primarily reflects two factors: (1) steady long-term growth in corporate profits, and (2) a reduction in the use of credits and net operating losses.
https://lao.ca.gov/Publications/Report/3830