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

Building Reserves to Prepare for a Recession

Mar 7, 2018 - In his 2018 ‑ 19 b udget plan, the Governor proposes ending the year with $15. 7  b illion in total reserves (see Figure  4 ). This would consist of two amounts: $13. 5  b illion in the BSA and $2. 3  b illion in the SFEU.
https://lao.ca.gov/Publications/Report/3769

^[PDF] Building Reserves to Prepare for a Recession

Figure 2 (see next page) shows that revenues associated with the PIT experience more significant year-over-year changes than personal income itself. There are a variety gutter analysis full 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 2 0 1 8 - 1 9 B U D G E T 4 of reasons for this.
https://lao.ca.gov/reports/2018/3769/prepare-for-recession-030718.pdf

^[PDF] The Citizens Fair Districts Act (version 2)

Brown Jr. 2 April 4, 2007 ure establishes a process for the Secretary of State to determine the members of the com- mission. The process would begin with 160,000 randomly selected voters from across the state and eventually reduce that number to 11 members (and 11 alternatives) through a combination of voter information forms, random selections, and legislative leadership input.
https://lao.ca.gov/ballot/2007/070245.pdf

^[PDF] Voters FIRST Act for Congress 2021

Brown Jr. 2 March 10, 2010 Major Provisions Proposed New Method for Congressional Redistricting. This measure amends the Constitution to change the redistricting process for California’s districts in the U.S.
https://lao.ca.gov/ballot/2010/100102.pdf

^[PDF] Oversight of Budget Reserves

A statutory, general purpose reserve established in 2018, which was only briefly funded. L E G I S L AT I V E A N A LY S T ’ S O F F I C E 2 How Proposition 2 Works a Amount reduced by “Proposition 98 increment.”
https://lao.ca.gov/handouts/state_admin/2024/Budget-Reserves-Overview-080624.pdf

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - Figure 2 LAO May 2018 Economic Growth Scenario a Percent Change Unless Otherwise Indicated 2017
https://lao.ca.gov/Publications/Report/3829

^[PDF] HMOs and Rural California

In those rural areas where these steps are not enough to attract HMOs, we identify ways com- munities can develop their own health care sys- tems based on the experience of one rural California county. ■ August 8, 2002 2 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 INTRODUCTION How and Why the LAO Conducted This Study Chapter 208,
https://lao.ca.gov/2002/hmos_rural_ca/8-02_hmos_rural_ca.pdf