California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Whereas California’s labor market has stagnated over the last two years, the S&P 500 stock index has appreciated roughly 50 percent over the same period. And most of this increase has come from skyrocketing share prices among a handful of firms associated with innovations in Artificial Intelligence (AI).
https://lao.ca.gov/Publications/Report/5104

The 2016-17 Budget: Initial Comments on the Governor’s May Revision

May 15, 2016 - Sets aside $500  million ($200  million General Fund) for future collective bargaining agreements. Reduces estimate of required Proposition  2 debt payments by $264  million. Includes $24.5  million for rehabilitation programs for state ’s inmate population.
https://lao.ca.gov/Publications/Report/3460

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - After 2026‑27, these proposals would add about $200 million in ongoing spending. Some of the largest spending augmentations proposed for the budget window include: (1) $76 million for utility replacement and site improvements at Exposition Park, (2) $67 million to the California Department of Forestry and Fire Protection for fixed‑wing aircraft pilot and mechanics contract
https://lao.ca.gov/Publications/Report/5101

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

Jan 14, 2019 - As local governments reach these new goals, an additional $ 500  m illion would be available to cities and counties for general purposes. Middle ‑Income Housing Loans. The Governor ’s budget proposes $ 500  m illion General Fund to expand the California Housing Finance Agency ’s (CalHFA ’s) Mixed ‑Income Loan Program.
https://lao.ca.gov/Publications/Report/3916

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The stock market (S &P 500) has risen 50  percent in the last two years. Most of these gains come from the meteoric rise in the value of a handful of tech companies that investors believe will be major beneficiaries of recent advances in AI.
https://lao.ca.gov/Publications/Report/5091

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - Specifically, the budget cuts $400   million from the Active Transportation Program, $200   million planned for grade separation projects, and $75   million from the Highways ‑to ‑Boulevards Pilot Program.
https://lao.ca.gov/Publications/Report/4922

The 2017-18 Budget: Overview of the Governor's Budget

Jan 13, 2017 - As part of the 2016 –17 budget package, the Legislature and the Governor agreed on a four –year plan to increase ongoing child care and preschool funding by roughly $500  million (roughly $200  million in Proposition  98 General Fund and $300  million in non –Proposition  98 General Fund).
https://lao.ca.gov/Publications/Report/3528

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - DOF has not yet received official claims from all affected local governments, but early estimates indicate expenditures for these purposes could be around $200  million across the 2024 ‑25 and 2025 ‑26 budget years.
https://lao.ca.gov/Publications/Report/5079

The 2022-23 Budget: Overview of the Governor's Budget

Jan 13, 2022 - Specifically, the budget proposes $500  million for tax credits to builders of rental housing affordable to low ‑income households, $200  million for mixed ‑income housing, $200  million to preserve affordable housing units, and $100  million to preserve affordable mobile  homes.
https://lao.ca.gov/Publications/Report/4492

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - This funding is in addition to $200 million annually in continuously ‑appropriated funding from the Greenhouse Gas Reduction Fund (GGRF) for similar purposes. Second, the spending plan provides roughly $850  million in 2022 ‑23, of which about $500  million is   ongoing —almost  entirely from the General   Fund —for  various augmentations aimed at enhancing the state ’s wildfire response.
https://lao.ca.gov/Publications/Report/4616