The Property Tax Inheritance Exclusion

Oct 9, 2017 - In 1986, voters approved Proposition   58 —a legislative constitutional amendment —which excludes certain property transfers between parents and children from reassessment. A decade later, Proposition  193 extended this exclusion to transfers between grandparents and grandchildren if the grandchildren ’s parents are deceased.
https://lao.ca.gov/Publications/Report/3706

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Whereas California’s labor market has stagnated over the last two years, the S&P 500 stock index has appreciated roughly 50 percent over the same period. And most of this increase has come from skyrocketing share prices among a handful of firms associated with innovations in Artificial Intelligence (AI).
https://lao.ca.gov/Publications/Report/5104

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

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Budget Stabilization Account Proposition   58 Governed BSA From 2004 t o 2014. Until 2014, the BSA was governed by Proposition  58. Passed by voters in 2004, Proposition   58 r equired the state to make an annual transfer into the BSA.
https://lao.ca.gov/Publications/Report/3769

^[PDF] Building Reserves to Prepare for a Recession

Proposition 58 allowed these deposits to be suspended by an executive order issued by the Governor. Between 2004 and 2014 only two transfers were made to the BSA under the provisions of Proposition 58.
https://lao.ca.gov/reports/2018/3769/prepare-for-recession-030718.pdf

^[PDF] THE ECONOMIC AND FISCAL IMPACTS OF CALIFORNIA'S AIRCRAFT GROUND TIME EXEMPTION

A "B" check, required every 400 to 500 flying hours, or up to about 110 days, can also be completed in less than 12 hours. The "B" check is usually done overnight and most airlines do the work at several airports.
https://lao.ca.gov/reports/1979/02_fiscal_impacts_of_californias_aircraft_ground_time_exemption.pdf

^[PDF] California's Tax Expenditure Programs: Income Taxes

New corporations with gross income under $1 million pay a re- duced minimum tax of $300 the first year and $500 the second year. In recent years, the minimum tax has applied to the majority of California corporations because their computed tax liabilities are below the minimum tax threshold.
https://lao.ca.gov/1999/tax_expenditure_299/tep_299_income_tax.pdf

Evolution of the Balance of the Budget Stabilization Account

Nov 14, 2018 - 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. Under our recent Fiscal Outlook revenue estimates for 2017 ‑18 and 2018 ‑19, the initial $2.6  billion optional deposit made in 2018 ‑19 would now be mostly constitutionally required, with only $320  million still considered optional.
https://lao.ca.gov/Publications/Report/3900

Firearms and Ammunition Revenue Update (2025 Q2) [EconTax Blog]

Aug 18, 2025 - Preliminary Total for 2024-25: $58 Million. For firearm and ammunition excise tax returns filed for 2024-25, the total amount of tax due is $58 million —a bit lower than the budget package revenue assumption.
https://lao.ca.gov/LAOEconTax/Article/Detail/836