Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Because the state 's Facebook  estimates assumed little in the way of discretionary stock trading activity, it is possible (but not certain)  that elevated trading activity related to the  stock could help state tax revenues to some extent.  
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - The Facebook IPO ’s Effect on the Economy About One-Fifth of 2012 Personal Income Growth Will Relate to the IPO. It appears that the bulk of income that will be attributable to Californians due to the IPO will be classified as a type of wage income, although there likely will be substantial c apital gains activity as well.
https://lao.ca.gov/Recommendations/Details/596

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

The Facebook IPO ’s Effect on the Economy About One-Fifth of 2012 Personal Income Growth Will Relate to the IPO. It appears that the bulk of income that will be attributable to Californians due to the IPO will be classified as a type of wage income, although there likely will be substantial capital gains activity as well.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

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

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Additional $81 million one ‑time provided in 2025 ‑26, available through June 30, 2028. a We note that we are currently seeking clarification from the administration on two components of BH ‑CONNECT that are funded in the Department of Health Care Services —(1) the Activity Funds Initiative (previously called activity stipends) and (2) Initial Joint Behavioral Health Home Visits.
https://lao.ca.gov/publications/report/5147

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

^[PDF] The 2022-23 Budget: Office of Planning and Research Budget Proposals

To increase awareness about the program and to recruit volunteers, California Volunteers would develop a robust marketing campaign using social media platforms, such as Facebook and Ring Neighborhoods, and provide communications support to neighborhood leaders. • $1.5 Million for Digital Infrastructure.
https://lao.ca.gov/reports/2022/4523/OPR-Budget-020922.pdf

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

Feb 10, 2026 - Most notably, because including state operations expenditures as part of Tier 1 means they receive first priority for available GGRF, adding new activities to this category can have the effect of gradually “crowding out ” other GGRF ‑funded programs and activities.
https://lao.ca.gov/Publications/Report/5114

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - The Commission determined that Los Angeles County incurred reimbursable costs processing deferment requests and adding the required disclosure to property tax bills. The Commission determined that the county incurred a total amount of about $30,000 in back-year costs (incurred between 2022 and 2024), and about $8,000 in ongoing costs thereafter.
https://lao.ca.gov/Publications/Report/5130