Building Reserves to Prepare for a Recession

Mar 7, 2018 - Under Proposition  2, the state must put money into the BSA until its total reaches a maximum amount of 10  p ercent of General Fund tax revenue. Currently, this is about $13. 5  b illion. Once the BSA reaches this maximum, funds that would bring the BSA above 10  p ercent of General Fund taxes must be spent on infrastructure.
https://lao.ca.gov/Publications/Report/3769

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

Managing California’s Cash

Sep 3, 2019 - After a period of relative calm in the mid ‑ and late ‑1990s, California faced another series of years with acute budget problems following the dot ‑com bust and ensuing recession. Although the dot ‑com bust was relatively mild in economic terms, it hit the California budget —which is particularly reliant on the Bay Area ’s technology sector —especially hard.
https://lao.ca.gov/Publications/Report/4092

The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - The 2018 ‑ 19 b udget approved the first step of this plan by providing an across ‑the ‑board 10  p ercent grant increase effective April 1, 2019. The Governor ’s budget proposes to further increase CalWORKs grants by 13. 1  p ercent, which would raise grant levels to 50  p ercent of FPL for a family of three.
https://lao.ca.gov/Publications/Report/3916

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - As of October 10, 2025, the Department of Finance reported a cumulative total of $533.8  million (across 2024-25 and 2025-26) allocated through the control sections. (See text box titled, “Special Session Had Notable Budgetary Implications, ” in The 2025-26 Budget: Overview of the Spending Plan for more information.)
https://lao.ca.gov/Publications/Report/5081/

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

Feb 19, 2026 - Below, we discuss “Disclosure Requirements and Deferral of Property Taxation, ” a newly identified mandate since enactment of the 2025-26 Budget Act . Background New Requirements for Los Angeles County.
https://lao.ca.gov/Publications/Report/5130

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - Direct the administration to use its continuous appropriation authority to augment CDTFA ’s allocation from the Cannabis Tax Fund by the proposed amount, prorated to cover the remainder of 2025 ‑26. Direct the administration to make any future adjustments needed to support the program without spending any money from the General Fund.
https://lao.ca.gov/Publications/Report/5132

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

Feb 19, 2026 - In this post, we discuss “Disclosure Requirements and Deferral of Property Taxation,” a newly identified mandate since enactment of the 2025-26 Budget Act.
https://lao.ca.gov/Publications/Detail/5130

The 2025-26 California Spending Plan: Other Provisions [Publication Details]

Oct 16, 2025 - The 2025-26 California Spending Plan: Other Provisions [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/5081

The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products

May 12, 2019 - The administration estimates that the forgone revenue from this exemption will be $12  million General Fund ($26  million total) in 2019 ‑20, $24  million General Fund ($52  million total) in 2020 ‑21, and $12  million General Fund ($26  million total) in 2021 ‑22.
https://lao.ca.gov/Publications/Report/4040