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

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

The 2025-26 Budget: California Spending Plan Series [Publication Details]

Oct 16, 2025 - The 2025-26 Budget: California Spending Plan Series [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/5105

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - Reflecting concerns about the potential effects of tariffs, the budget act enacted in June assumed revenues would decline in 2025 ‑26 and grow modestly in 2026 ‑27. Looking primarily at strong trends in income tax collections since June would suggest a significant upgrade to budget act revenues is warranted.
https://lao.ca.gov/Publications/Report/5091

^[PDF] Economic and Budget Developments

The Gov- ernor also deleted $26 million from the com- munity colleges earmarked for program im- provement, and set aside the funds for other purposes, consistent with Proposition 98 fund- ing requirements.
https://lao.ca.gov/reports/1996/update_california_7-1996.pdf

^[PDF] COMMUNITY EDUCATION OF CHILDREN RESIDING IN STATE HOSPITALS

These costs were supported by ESEA Title r funds ($306,000) and General Fund appropriations ($617,000) made by the 1981 Budget Act. -26- Funding Sources for Community Education Services 1981-82 Budget Act of 1981 In-kind services ESEA Title I Total 306,103 $7.190,936 a.
https://lao.ca.gov/reports/1983/02_community_education_of_children_residing_in_state_hospitals.pdf

^[PDF] State Constitutional Officers

Instead, future increases in salaries would not become effective until en- acted in statute by the Legislature and approved by the voters in the next regular elec- Hon. Bill Lockyer 2 February 14, 2001 tion.
https://lao.ca.gov/ballot/2001/010016_INT.pdf

Revised Seismic Safety Commission funding proposal

May 23, 2012 - Specifically, under Article XIII A, Section 3, of the State Constitution ( Proposition 26, 2010 ) the extended charge on insurers to support the commission would be a tax because the commission provides a broad public benefit rather than a direct benefit to the insurers paying the charges.
https://lao.ca.gov/Recommendations/Details/576

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769