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

The 2026-27 Budget: Permitting Support at the State Water Resources Control Board

Mar 2, 2026 - The ruling limits federal jurisdiction to relatively permanent bodies of water and to wetlands that have a continuous surface connection to WOTUS. California has many wetlands and other ephemeral or seasonal waters that previously were considered WOTUS but now no longer meet the federal definition because they lack a continuous surface connect ion or are not relatively permanent.
https://lao.ca.gov/Publications/Report/5144

The 2026-27 Budget: Office of Emergency Services Next Generation 911 System

Feb 27, 2026 - As  a result, policymakers may find that questions related to the budget, policy, and oversight of the state ’s 911 technology may begin to surface more frequently than has been the case historically.
https://lao.ca.gov/Publications/Report/5145

The 2026-27 Budget: Governor’s Sustainable Aviation Fuel Tax Credit Proposal

Feb 24, 2026 - Historically, the state has used the revenues from the taxes that road users pay to support activities that benefit those users, such as for the operation, maintenance, and improvement of the state ’s surface transportation system.
https://lao.ca.gov/Publications/Report/5139

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

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

The 2025-26 Budget: State Mandate—Santa Ana Regional Water Quality Control Board

May 5, 2025 - It asserted that common use of the word sewer is not limited to sanitary systems and cited earlier statute that uses a more expansive definition of “sewer system ” which includes systems to dispose of sewage, industrial waste, and surface and stormwaters.
https://lao.ca.gov/Publications/Report/5039

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