Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - This change had the effect of accelerating tax collections from 2009 ‑10 into 2008 ‑09, thereby improving the 2008 ‑09 budget condition. As the state ’s fiscal situation continued to deteriorate in 2009, the 2009 ‑10 budget package again changed the quarterly estimated tax payment schedule to collect 70  percent in the first half of the fiscal year and 30  percent in the second, improving the 2009 ‑10 budget condition.
https://lao.ca.gov/Publications/Report/4722

Managing California’s Cash

Sep 3, 2019 - This is precisely what occurred, for example, in the 2008 ‑ 09 b udget. When DOF prepared the cash projections for 2008 ‑ 09 i n January 2008, policymakers might have understood budgetary problems were emerging, but did not know how deep the revenue drops would be.
https://lao.ca.gov/Publications/Report/4092

The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - This is a budget solution that the state previously has used, for example, to address the budget problem caused by the Great Recession in 2008. Net Operating Loss Deductions Smooth Business Profits and Losses Over Time.
https://lao.ca.gov/Publications/Report/4500

California's Fiscal Outlook: LAO Projections, 2007-08 Through 2012-13 [Publication Details]

Nov 14, 2007 - California's Fiscal Outlook: LAO Projections, 2007-08 Through 2012-13 [Publication Details] Press Conf Description: In order to balance the 2008–09 budget, the state will have to adopt nearly $10 billion in solutions.
https://lao.ca.gov/Publications/Detail/1681

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - In 2008 ‑09, the last year the program was operated before suspension, SCO paid property tax payments on behalf of 5,676 homeowners. For comparison, in 2008, there were nearly one million Californians who were aged 62 o r over, owned their homes, and lived in a household that had an income of less than $35,500.
https://lao.ca.gov/Publications/Report/3885

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Figure  3 shows estimates of tax revenue losses associated with each of the last three recessions: the recession of the early 1990s, the dot ‑com bust and ensuing recession in the early 2000s, and the financial crisis and Great Recession beginning in 2008.
https://lao.ca.gov/Publications/Report/3769

Do Communities Adequately Plan for Housing?

Mar 8, 2017 - The fourth housing element planning cycle, which began sometime between 2006 and 2008 for most cities and counties, recently ended. Most cities and counties now are a couple years into their fifth planning cycle.
https://lao.ca.gov/Publications/Report/3605