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

State Water Project staffing for regulatory compliance, safety, and maintenance

May 20, 2011 - Preventative Maintenance Masks Impact of Staff Losses on OA.   The high level of OA continued through 2007, despite losing staff because of department-wide vacancy sweeps and hiring freezes from 2000-2005.  
https://lao.ca.gov/Recommendations/Details/326

Maximizing Federal Funds for HIV/AIDS: Improving Surveillance and Reporting

Some Steps Have Been Taken to Address Gaps in Reporting… The OA has taken some steps to address the gaps in reporting that we have identified. The OA is modifying consent forms for clients represented in the ADAP database, as well as the AIDS Regional Information and Evaluation System (ARIES) database (which includes clients receiving non–ADAP care services funded through the OA).
https://lao.ca.gov/reports/2010/hlth/hiv_reporting/hiv_reporting_022210.aspx

^[PDF] Maximizing Federal Funds for HIV/AIDS: Improving Surveillance and Reporting

Some Steps Have Been Taken to Address Gaps in Reporting… The OA has taken some steps to address the gaps in reporting that we have identified. The OA is modifying consent forms for clients represented in the ADAP data‑ L e g i s L a t i v e a n a L y s t ’ s O f f i c e a n L a O R e p O R t 8 base, as well as the AIDS Regional Information and Evaluation System
https://lao.ca.gov/reports/2010/hlth/hiv_reporting/hiv_reporting_022210.pdf

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

^[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

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

Maximizing Federal Funds for HIV/AIDS: Improving Surveillance and Reporting [Publication Details]

Feb 22, 2010 - We recommend two actions that the state could take: First, have the state Office of AIDS (OA) take steps to ensure that persons receiving services through state–supported programs are reflected in the HIV surveillance database.
https://lao.ca.gov/Publications/Detail/2204