The 2026-27 Budget: Bureau for Private Postsecondary Education [Publication Details]

Mar 25, 2026 - This post assesses the Governor’s proposal to provide a General Fund appropriation for the Bureau for Private Postsecondary Education, a regulatory agency within the Department of Consumer Affairs.
https://lao.ca.gov/Publications/Detail/5169

The 2026-27 Budget: Bureau for Private Postsecondary Education

Mar 25, 2026 - We further recommend the Legislature address BPPE ’s underlying structural deficit during the sunset review process this spring. As part of the sunset review, the state could approve fee increases to ensure the regulatory agency can cover its costs and be fiscally solvent in the years to come.
https://lao.ca.gov/Publications/Report/5169

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

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Frequently asked questions concerning Facebook and California's General Fund Frequently asked questions concerning Facebook and California's General Fund Program: Revenues Finding or Recommendation: This item lists answers to frequently asked questions concerning Facebook's stock and California's General Fund budget for 2012-13.
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - State tax revenue estimates regarding Facebook, therefore, require numerous assumptions. Because of these factors, there is a large margin of error surrounding both our Facebook revenue estimates and those of the administration.
https://lao.ca.gov/Recommendations/Details/596

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

Essentially, to avoid “double counting ” the Facebook income, this means that both of our revenue estimates consider the economy without Facebook and then add PIT revenues on top of those estimates to account for the IPO.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

Background information on LAO's May 2012 economic and revenue forecasts

May 18, 2012 - Figure 6 compares the LAO May 2012 revenue estimate related to the Facebook IPO with those in other recent forecasts. The IPO was announced in February and thus was not included in the Governor ’s January 2012 forecast. ( Additional information on our May 2012 Facebook IPO revenue forecast was published on this website on May 15.)
https://lao.ca.gov/Recommendations/Details/599

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - The 2025-26 spending plan (Chapter  79 of 2025 [SB  119, Committee on Budget and Fiscal Review]) added language around the Tiered Rate Structure ’s implementation timeline to specify that the new care and supervision rates as well as the strengths building and immediate needs components shall become operative on July 1, 2027, or the date after both of the
https://lao.ca.gov/publications/report/5147

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

Feb 10, 2026 - Review Proposed S B   840 Implementation Approach and Statutory Changes to Ensure Consistency With Legislative Intent. We recommend the Legislature carefully review the administration’s proposed approach to implementing SB 840 to ensure that it is consistent with legislative intent and preferences, and make any associated statutory modifications, as relevant.
https://lao.ca.gov/Publications/Report/5114