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

Feb 23, 2026 - The Governor proposes a $5.6  million augmentation from the Cannabis Tax Fund in 2026 ‑27 and ongoing to address compliance and enforcement in the Cannabis Tax Program. This would bring the total Cannabis Tax Fund appropriation for this program to $17.9  million.
https://lao.ca.gov/Publications/Report/5132

The 2022-23 Budget: Fuel Tax Rates

Feb 11, 2022 - The administration estimates that the 2022 inflation adjustment will be 5.6  percent. As a result, under the Governor ’s proposal, the gasoline excise tax would be roughly 3 cents per gallon lower than it would be under current law.
https://lao.ca.gov/Publications/Report/4528

The 2022-23 Budget: Fuel Price and Other Fiscal Relief Options

May 12, 2022 - As part of his January budget, the Governor proposed delaying the scheduled 5.6  percent 2022 ‑23 statutory increase to fuel (gasoline and diesel) excise tax rates for one year. (In our February post, The 2022‑23 Budget: Fuel Tax Rates , we discuss this proposal in more detail.)
https://lao.ca.gov/Publications/Report/4597

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
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

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - The overall $ 38  m illion effect includes: $5.6   Million General Fund Revenue Loss. Net of the partial exemption, the administration estimates that the additional exclusions would reduce General Fund revenues by $5. 6  m illion. $7.5   Million Backfill to 2011 Realignment.
https://lao.ca.gov/Publications/Report/4327

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 2017-18 Budget: Governor's Gann Limit Proposal

Mar 2, 2017 - As revenues surged during the dot ‑com boom of the late 1990s, however, the state approached the limit. The state had excess revenues in 1999 ‑00, but because appropriations were under the limit in 2000 ‑01, additional Proposition  98 spending and taxpayer rebates were not required.
https://lao.ca.gov/Publications/Report/3596