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

Building Reserves to Prepare for a Recession

Mar 7, 2018 - To put this in more concrete but very rough terms, a moderate recession, like the dot ‑com bust, could lead to a $ 40  b illion budget problem. A more mild recession might result in a $ 20  b illion budget problem.
https://lao.ca.gov/Publications/Report/3769

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

^[PDF] Department of Health Services Toxic Substances Control Programs

It i s important that the depa rtment complete the development and implementation of these two systems in order to monitor compliance wi th t ransportation l aws and assure management review of regional office activity . 4.
https://lao.ca.gov/reports/1983/department_of_health_services_toxic_substance_control_program.pdf

^[PDF] California's Parimutuel Horse Racing Tax

PILED FOR 1983 BY THE NATIONAL As soc 1 1\ T I oN oF STATE RAe r ~JG CoM"1 Iss I oNERS , THESE DATA INDIC.liTE THAT CALIFORNIA IS P.. PELATIVELY HIGH TAX STATE ltMEN IT COf-1ES TO Pf'.PIMUTUEL WAGERING TAXATION , FOR E> https://lao.ca.gov/reports/1984/californias_paramutual_horse_racing_tax.pdf

The 2026-27 Budget: Cap-and-Invest Expenditure Plan

Feb 10, 2026 - Allocates $615   Million Outside  S B   840 Spending Framework for Rest of CalFire Backfill and ZEV Incentive Program. The administration assumes about $750   million in GGRF monies will be available in 2026 ‑27 that are not from budget ‑year auction revenues and thus not subject to the S B  840 allocation process under its statutory interpretation.
https://lao.ca.gov/Publications/Report/5114

Overview of New Updates to the Cap-and-Invest Program

Dec 9, 2025 - Under S B  840 , funding for these programs —which include wildfire and forest resilience activities specified under Chapter  626 of 2018 (S B  901 , Dodd), a backfill of the State Responsibility Area (SRA) fee, and lost revenue associated with A B  398 ’s expansion of a manufacturing tax exemption —is maintained at existing levels.
https://lao.ca.gov/Publications/Report/5097

^[PDF] The 1989-90 Budget: Perspectives and Issues

:~Jl~,ct~diJQ'Y~r~11;l,lJ.9;~P.J'siE~tg(;lcJ¢Y~1~"i.()f..capital ,g~,t!!,~!p.S2m¥"r,~~~z,~gJ~K~t:lt~J~~p~y~r~.Foods which had been a.ppi-o- ,pHated; to 'the SFEU were' redireCted to cover the shortfall, and' several actions were taken by the administration to reduce or delay expenditures.
https://lao.ca.gov/analysis/1989/pandi_89_part1.pdf

The 2026-27 Budget: Proposition 4 Spending Plan

Feb 10, 2026 - This amount was approved via three different 2025 budget actions: (1) $181  million provided through Chapter  2 of 2025 (A B  100 , Gabriel) (these funds were available for departments to spend during the final few months of 2024 ‑25), (2) $2.9  million through Chapter  5 of 2025 (A B  102 , Gabriel), and (3) $3.3  billion through Chapter  104 of 2025 (S B  105 , Wiener).
https://lao.ca.gov/Publications/Report/5115