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

The Property Tax Inheritance Exclusion

Oct 9, 2017 - Figure  3 reports our estimates of these fiscal effects by county. Greater Losses Likely in Future. It is likely the fiscal effect of this exclusion will grow in future years as California ’s homeowners continue to age and the use of the inheritance exclusion increases.
https://lao.ca.gov/Publications/Report/3706

^[PDF] Building Reserves to Prepare for a Recession

Until 2014, the BSA was governed by Proposition 58. Passed by voters in 2004, Proposition 58 required the state to make an annual transfer into the BSA. These required deposits were to gradually increase from 1 percent of General Fund revenues in 2006-07 to 3 percent in 2008-09 and every year thereafter.
https://lao.ca.gov/reports/2018/3769/prepare-for-recession-030718.pdf

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The current discrepancy over the size of the state ’s budget deficit —$18  billion under the Legislative Analyst ’s Office estimate versus $3  billion in the Governor ’s budget —fits squarely within that pattern.
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

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

Figure 3 Bank and Corporation Tax Rates General Corporation Rate Minimum Taxa 1929-34 2.00% $25 1935-42 4.00 25 1943-49 3.40 25 1950-58 4.00 25 1959-66 5.50 100 1967-71 7.00 100 1972 7.60 200 1973 8.30 200 1974-79 9.00 200 1980-81 9.60 200 1982-86 9.60 200 1987-88 9.30 300 1989
https://lao.ca.gov/1999/tax_expenditure_299/tep_299_income_tax.pdf

^[PDF] 2007-08 Budget Overview: Resources and Environmental Protection (Including an Overview of the CALFED Bay-Delta Program)

Resources Agency: 12-Year Funding Mix and Expenditure Trends (Dollars in Millions) General Fund Special Funds Bond Funds Federal Funds Amount Percent Amount Percent Amount Percent Amount Percent Total Funds 1996-97 $771 45% $782 46% $94 5% $63 4% $1,710 1997-98 717 42 839 49 91 5 75 4 1,722 1998-99 1,105 53 840 40 56 3 76 4 2,077 1999-00 1,184 52 937 41 54 3 97 4
https://lao.ca.gov/handouts/resources/2007/0708_Budget_Overview_Resources_Environmental_030507.pdf

^[PDF] June 15, 1999 1999-00 Budget Bill Conference Committee Version

Governor Conference Difference UC $ 2,646 $ 2,704 $58 CSU 2,207 2,283 76 CCC (Proposition 98) 3,838 3,897 58 General Fund 2,270 2,329 58 Local 1,568 1,568 — Student Aid Commission 387 395 8 Hastings 14 14 — California Postsecondary Education Commission 3 3 — Totals $ 9,096 $ 9,296 $200 General
https://lao.ca.gov/1999/99-00_conference_committee_floor_packet.pdf

^[PDF] UPDATE MAY 1997

The number of AFDC-linked Medi-Cal eligibles has declined by more than 3 percent over the last twelve months. This com- pares with a budget estimate of only about a 1 percent decline in the cur- rent year.
https://lao.ca.gov/1997/cal_update/may_97_calupdate.pdf