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

^[PDF] Non-Education Mandates and the 2012-13 State Budget

The state owes cities, counties, and special districts:  $720 million for claims submitted before 2004. The state established a 15-year payment plan for these claims, but has not made a payment for several years.  $621 million for claims submitted in or after 2004.  $174 million for accrued interest on unpaid claims.  No Funds for Employee Relations Mandates.
https://lao.ca.gov/handouts/localgov/2012/Non_Ed_Mandates_3_13_12.pdf

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

^[PDF] Overview of Proposition 98 Budget Proposals

Decreases in 2015-16 and 2016-17 Minimum Guarantees 2015-16 2016-17 June 2016 Estimate January 2017 Estimate Change Minimum Guarantee General Fund $49,722 $48,989 -$733 $51,050 $50,330 -$720 Local property tax 19,328 19,681 353 20,824 21,038 215 Totals $69,050 $68,671 -$379 $71,874 $71,368 -$506 (In Millions) 2L E G I S L A T I V E A N A L Y S T ’ S O F F I C E March 2, 2017 
https://lao.ca.gov/handouts/education/2017/Proposition-98-Proposals-030217.pdf

^[PDF] Overview of Proposition 98 and Early Education Budget Proposals

Decreases in 2015-16 and 2016-17 Minimum Guarantees 2015-16 2016-17 June 2016 Estimate January 2017 Estimate Change Minimum Guarantee General Fund $49,722 $48,989 -$733 $51,050 $50,330 -$720 Local property tax 19,328 19,681 353 20,824 21,038 215 Totals $69,050 $68,671 -$379 $71,874 $71,368 -$506 (In Millions) 2L E G I S L A T I V E A N A L Y S T ’ S O F F I C E February 28,
https://lao.ca.gov/handouts/education/2017/Proposition-98-and-Early-Education-Proposals-022817.pdf

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The 2017-18 Budget: California Spending Plan Revenue dedicated to fund growth in existing Medi-Cal program $711 Total $1,257 a Physician and dental services provider payments could be increased to up to about $720 million in 2018-19 (bringing total 2018-19 Proposition 56 funding for increased provider payments to $800 million).
https://lao.ca.gov/Publications/Report/3694/6

Improving Academic Success for Economically Disadvantaged Students

It is estimated that these programs serve more than 720 million meals each year. Facilities Programs There are two small programs available to help schools with large ED populations fund facilities and equipment.
https://lao.ca.gov/2009/edu/academic_success/academic_success_0109.aspx

^[PDF] Fiscal Effect on California: Pending Federal Deficit Reduction Act of 2005

The single largest cost is $720 million for the increase in the state TANF MOE require‑ ment because, based on current performance, the state is likely to be out of compliance with federal work participation mandates beginning in FFY 2007.
https://lao.ca.gov/2006/deficit_reduction/deficit_reduction_012006.pdf

MOU Fiscal Analysis: Bargaining Unit 12 (Craft and Maintenance)

Jun 10, 2016 - The agreement would provide an additional 5 percent salary increase on two separate occasions —once in 2016-17 and again in 2017-18 —to about 720 rank-and-file employees employed by (1) the Department of Transportation (Caltrans) in specified heavy equipment mechanic classifications and (2) the Office of Emergency Services, Department of General Services, and Department of Water Resources (DWR) in specified telecommunication technician classifications.
https://lao.ca.gov/Publications/Report/3482