LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - If the Facebook IPO were excluded, this figure would total 4.0 perce nt. Accordingly, around 20 percent of the state ’s personal income growth in 2012 —and nearly 1 percent of all personal income in the state   this year —is expected to be related to Facebook.
https://lao.ca.gov/Recommendations/Details/596

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Facebook is assumed to generate under $2 billion (about 1 percent) of this total, and much of that revenue  should still materialize even if the company 's stock price remains depressed.  As noted above, if the company 's stock price remains depressed, hundreds of millions of  income tax dollars assumed in the 2012-13 state budget plan are at risk.
https://lao.ca.gov/Recommendations/Details/618

Summary of LAO Findings and Recommendations on the 2012-13 Budget

If the Facebook IPO were excluded, this figure would total 4.0 percent. Accordingly, around 20 percent of the state ’s personal income growth in 2012 —and nearly 1 percent of all personal income in the state   this year —is expected to be related to Facebook.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

Overview of Proposition 1 and Assessment of Behavioral Health Continuum Infrastructure Program [Publication Details]

Apr 7, 2025 - Overview of Proposition 1 and Assessment of Behavioral Health Continuum Infrastructure Program [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5027

Considering Medi-Cal in the Midst of a Changing Fiscal and Policy Landscape

Oct 24, 2025 - Starting in January 2028, H.R.  1 requires people who qualify for Medicaid under certain rules and use long ‑term care to prove that their home equity is no greater than $1  million to remain eligible.
https://lao.ca.gov/Publications/Report/5083

Considering Medi-Cal in the Midst of a Changing Fiscal and Policy Landscape [Publication Details]

Oct 24, 2025 - We describe the changing fiscal and policy landscape for Medi-Cal resulting from Congressional enactment of H.R. 1 and the key issues facing the Legislature.  See our companion infographic
https://lao.ca.gov/Publications/Detail/5083

Overview of Major Impacts of H.R. 1—One Big Beautiful Bill Act on CalFresh [Publication Details]

Nov 13, 2025 - Overview of Major Impacts of H.R. 1—One Big Beautiful Bill Act on CalFresh [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5090

The 2026-27 Budget: Medi-Cal Fiscal Outlook

Nov 19, 2025 - The nearby box describes other key  H.R.  1  changes. What Are Some Other Key Changes in H.R. 1 to Track? Change in Unsatisfactory Immigration Status (UIS) Definition. Under H.R. 1, more immigrant groups (such as refuges and asylees) will have UIS beginning October 2026.
https://lao.ca.gov/Publications/Report/5092