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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
https://lao.ca.gov/LAOEconTax/article/Detail/852

The Property Tax Inheritance Exclusion

Oct 9, 2017 - The share of homeowners over 65 increased from 24  percent in 2005 to 31  percent in 2015. This trend is likely to continue in coming years as baby boomers —a major demographic group —continue to age.
https://lao.ca.gov/Publications/Report/3706

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

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

2025-26 Changes in Proposition 98 Spending [EdBudget]

Feb 4, 2025 - 2025-26 Changes in Proposition 98 Spending [EdBudget] 2025-26 Proposition 98 Spending $118,923 a Applies to Child and Adult Care Food Program, K-12 Mandates Block Grant, and special education. b Reflects additional LCFF costs associated with serving more students in transitional kindergarten, including costs of existing 12:1 staffing ratios. c The Governor's budget also includes $229 million in
https://lao.ca.gov/Education/EdBudget/Details/939

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - Roughly, a $24 billion erosion in revenues corresponds to a $15 billion increase in the budget problem. This would expand the $58 billion estimated deficit to $73 billion under our updated revenue forecast.
https://lao.ca.gov/Publications/Report/4850

^[PDF] Department of Water Resources—SBX7 8 Bond Appropriations

Language creates consis- tency with updated control language to allow for stream- lined updates to regulations and local assistance criteria. 24 3860-001-6051 Match Delta natural com- munities conservation plan local assistance to local needs.
https://lao.ca.gov/handouts/Conf_Comm/2010/Department_of_Water_Resources_SBX7_8_Bond_Appropriations_060710.pdf

^[PDF] "The Anti-Corruption Act of 2000"

Currently, the California Citizens Com- pensation Commission establishes the salaries and benefits for Members of the Legisla- ture and other state-elected officials, such as the Governor, the Attorney General, and members of the State Board of Equalization.
https://lao.ca.gov/ballot/1999/990335_INT.pdf