Building Reserves to Prepare for a Recession

Mar 7, 2018 - These required deposits were to gradually increase from 1  p ercent of General Fund revenues in 2006 ‑ 07 t o 3  p ercent in 2008 ‑09 and every year thereafter. Proposition  58 allowed these deposits to be suspended by an executive order issued by the Governor.
https://lao.ca.gov/Publications/Report/3769

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

Evolution of the Balance of the Budget Stabilization Account

Nov 14, 2018 - Under Proposition  58, deposits into the BSA were no longer required if the fund reached $8  billion or 5  percent of General Fund revenues, whichever was larger. Proposition  58 explicitly permitted the Legislature to transfer amounts into the BSA so that its balance exceeded either of these thresholds.
https://lao.ca.gov/Publications/Report/3900

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - This year, for example, our outlook reflects our best estimates of the effects of H.R. 1: One Big Beautiful Bill Act on the state budget but does not make assumptions about future federal policy changes.
https://lao.ca.gov/Publications/Report/5091

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - About $8  billion of the Governor ’s spending ‑related solutions are delays. As a result, proposed spending is higher by $5  billion in 2025 ‑26, nearly $2  billion in 2026 ‑27, and roughly $1  billion in 2027 ‑28.
https://lao.ca.gov/Publications/Report/4825

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - In total, the spending plan assumes S B   1 p rovides $4. 6  b illion in 2018 ‑ 19 —a $1. 8  b illion ( 62  p ercent) increase from the revised level of spending in 2017 ‑18. (The main reason for the year ‑to ‑year increase is that the increased taxes and charges authorized by S B  1 were in effect for only part of 2017 ‑18.)
https://lao.ca.gov/Publications/Report/3870/10

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Appendix 4, Figure 8 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Transportation General Fund (In Millions)
https://lao.ca.gov/Publications/Report/4788/4

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - Figure 1 Summary of Possible Remaining One ‑Time and Temporary Spending (In Millions)
https://lao.ca.gov/Publications/Report/4850

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028