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

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - The 2024-25 California Spending Plan: Other Provisions $4,850 $7,787 a Chapter 189 of 2023 (SB 104, Skinner) appropriated $73 million FF from the IIJA ’s Enabling Middle Mile Infrastructure program in 2023 ‑24. b Chapter 48 of 2022 (SB 189, Committee on Budget and Fiscal Review) included a legislative goal to appropriate $250 million GF in 2024 ‑25 for the middle ‑mile network. c
https://lao.ca.gov/Publications/Report/4934

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - The 2024-25 California Spending Plan: Other Provisions $4,850 $7,787 a Chapter 189 of 2023 (SB 104, Skinner) appropriated $73 million FF from the IIJA ’s Enabling Middle Mile Infrastructure program in 2023 ‑24. b Chapter 48 of 2022 (SB 189, Committee on Budget and Fiscal Review) included a legislative goal to appropriate $250 million GF in 2024 ‑25 for the middle ‑mile network. c
https://lao.ca.gov/Publications/Report/4934/governors-office-of-emergency-services

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

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Such actions primarily include shifting nearly $104  million in costs from various funds that receive fine and fee revenue to the General Fund in 2016 –17 . This includes $75  million from the Trial Court Trust Fund, $17  million from the Peace Officer ’s Training Fund, $9  million from the IMF, and $3  million from the Corrections Training Fund.
https://lao.ca.gov/Publications/Report/3487/10

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

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - Military Department The budget provides $ 231  m illion for the California Military Department (CMD), including $ 104  m illion from the General Fund and $ 125  m illion from federal funds. This total is an increase of $ 16  m illion, or 7  p ercent, from 2017 ‑ 18 e stimated expenditures.
https://lao.ca.gov/Publications/Report/3870/12

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

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - . $3. 1  m illion ongoing General Fund (and $104, 000 o ne time from the California Alzheimer ’s Disease and Related Disorders Research Fund) to provide grants for Alzheimer ’s research. Diabetes Outreach Awareness Campaign. $2. 5  m illion one ‑time General Fund, available over two years, to implement a diabetes prevention and treatment awareness campaign.
https://lao.ca.gov/Publications/Report/3870/6