The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - This change is estimated to reduce state r evenues by $135  million in fiscal year 2025-26 and $85  million annually thereafter. Excludes Wildfire Settlements From State Income Taxation. The budget package provides a blanket exemption for settlements related to any wildfire occurring between tax years 2021 and 2029.
https://lao.ca.gov/Publications/Report/5081

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - Accordingly, estimated net capital gains decrease to about $135 billion in 2019 and remain around that level through 2022. Corporation Tax (CT) Revenues Up Significantly in 2017-18. We expect CT revenues in 2017-18 to be almost 9  percent higher than 2016-17.
https://lao.ca.gov/Publications/Report/3830