LAO Publications

The changes range from large new policy proposals, to major modifications of January proposals, to s mall adjustments relating to revised student attendance estimates. In this post, we focus on the first two categories of proposals.
https://lao.ca.gov/Publications?page=74&year=0&productid=0&categoryid=0

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

LAO 2005 Budget Analysis: Intersegmental: Student Fees

Despite these increases, students' share of cost remains s mall, fee levels still are low compared to similar institutions, and California continues not to maximize its receipt of federal financial aid funding.
https://lao.ca.gov/analysis_2005/education/ed_18_Intersegmental_Student_Fees_anl05.htm

^[PDF] LAO 2001 Budget Analysis: Capital Outlay Chapter

By com- parison, if the building is procured by capital outlay, detailed work- ing drawings and specifications are prepared by the state that fully define the configuration, features, materials, and quality of construc- tion the state needs.
https://lao.ca.gov/analysis_2001/cap_outlay/co_anl01.pdf

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 Distribution of K-12 Education General Purpose Funds

Because of the large per-ADA funding amounts this program provides, we have included the s mall school subsidies as general purpose funds for these analyses. Should the Legislature consider revising the system of revenue limits, however, we would recommend treating these schools as a special group.
https://lao.ca.gov/2003/k12_fund_distribution/K12_General_Purpose_Funds_122203.html

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

^[PDF] Supplemental Report Of the 2002 Budget Act 2002-03 Fiscal Year CONTAINING STATEMENTS OF INTENT ADOPTED BY THE LEGISLATURE OR REQUESTS FOR STUDIES

The DMH shall report its findings to the Joint Legislative Budget Com- mittee and the fiscal committees of both houses of the Legislature by March 1, 2003. Supplemental Report of the 2002 Budget Act Page 25 2.
https://lao.ca.gov/2002/supplemental_report/supp_rpt_2002_budget_act.pdf