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

The 2026-27 Budget: Proposition 4 Spending Plan

Feb 10, 2026 - Remaining funding will support state ‑led activities, such as deferred maintenance and wildfire resilience activities at state parks and projects at the Salton Sea. In addition, some key provisions apply to all programs and projects: At least 40  percent of total funds must go to projects that benefit vulnerable populations or disadvantaged communities and at least 10  percent of total funds must go to projects that benefit severely disadvantaged  communities.
https://lao.ca.gov/Publications/Report/5115

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

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

The 2025-26 California Spending Plan: Natural Resources and Environmental Protection

Oct 16, 2025 - Provides Spending Authority for Salton Sea Projects. The state has received three installments totaling $245  million from the U.S. Bureau of Reclamation as part of the Inflation Reduction Act (2022) for projects at the Salton Sea.
https://lao.ca.gov/Publications/Report/5080

The 2025-26 Budget: May Revision Trailer Bill Proposals on the Delta Conveyance Project and Water Quality Control Plans

May 27, 2025 - DCP proponents argue it would improve the reliability of the state ’s water supply given the risks of climate change, salinity intrusion, sea-level rise, and earthquakes in the Delta. Opponents contend the project would jeopardize the Delta ’s ecosystem (and native fish that rely on it) and regional economy —and argue instead for strengthening Delta levees and increasing water conservation and recycling.
https://lao.ca.gov/Publications/Report/5053

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Proposition 4 Spending Plan

Feb 12, 2025 - For example, CalFire maintains an incident reporting dashboard, and the Salton Sea Management Program presents updates annually to SWRCB, prepares a yearly report, and mainta ins an online project tracker.
https://lao.ca.gov/Publications/Report/4958