The 2025-26 California Spending Plan: Proposition 4 [Publication Details]

Oct 16, 2025 - The 2025-26 California Spending Plan: Proposition 4 [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5076

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2025-26 California Spending Plan: Proposition 4

Oct 16, 2025 - Figure 2 Budget Package Approves New Positions to Implement Proposition 4 Department
https://lao.ca.gov/Publications/Report/5076

Background information on LAO's May 2012 economic and revenue forecasts

May 18, 2012 - Revenue Forecasts The LAO ’s May 2012 revenue forecast is included in the May Revision Overview (see Figure 4 of that publication). Comparisons With Recent Forecasts. Figure 3 compares the LAO May 2012 revenue forecast for 2011-12 and 2012-13 with those included in the Governor ’s January 2012 budget proposal , the LAO’s February 2012 forecast, and the Governor’s May Revision.
https://lao.ca.gov/Recommendations/Details/599

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - At the time of the May Revision, we also presented information comparing our office's Facebook personal income tax projections with those of the administration in Figures 4 and 6 of this online note .
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - State Revenues Related to the Facebook IPO Based on publicly available information, state PIT revenues will be generated from the following types of IPO-related financial transactions: (1) settlement of options-like asset s known as “restricted stock units ” (RSUs) by Facebook employees and others beginning late in 2012, (2) options transactions by
https://lao.ca.gov/Recommendations/Details/596

The 2025-26 California Spending Plan: Natural Resources and Environmental Protection [Publication Details]

Oct 16, 2025 - The 2025-26 California Spending Plan: Natural Resources and Environmental Protection [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5080

Summary of LAO Findings and Recommendations on the 2012-13 Budget

State Revenues Related to the Facebook IPO Based on publicly available information, state PIT revenues will be generated from the following types of IPO-related financial transactions: (1) settlement of options-like assets known as “restricted stock units ” (RSUs) by Facebook employees and others beginning late in 2012, (2) options transactions by
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

The 2025-26 California Spending Plan: Natural Resources and Environmental Protection

Oct 16, 2025 - Cross-Cutting Issues Proposition  4 Climate Bond Allocations Budget Package Provides $3.5  Billion for First Year of Proposition  4 Implementation. As shown in Figure  3 below, the budget package authorizes the state to spend $3.5  billion, or slightly more than one third, of the $10  billion climate bond approved by voters through the November 2024 ballot.
https://lao.ca.gov/Publications/Report/5080