The 2023-24 Budget: Equity Multiplier and Accountability Proposals

Feb 23, 2023 - These activities are very similar to the support COEs, geographic leads, and CCEE already provide through differentiated assistance. While equity leads have the added task of providing support that address es racial disparities, we question how this support will be different or more effective than other assistance provided through system of support entities.
https://lao.ca.gov/Publications/Report/4700

The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - Second, in considering the student behavioral health proposal, the Legislature may wish to ask the administration whether Medi-Cal managed care plans would have the capacity to meet the requirements to receive the incentive payments given the significant added responsibilities they may receive under the administration ’s CalAIM proposal.
https://lao.ca.gov/Publications/Report/4309

How High? Adjusting California’s Cannabis Taxes

Dec 17, 2019 - The changes in the cultivation tax rate and the amount of cannabis harvested lead to changes in cultivation tax revenue, while the changes in the retail excise tax rate, prices, and sales volume lead to changes in retail excise tax revenue.
https://lao.ca.gov/Publications/Report/4125

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

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Frequently asked questions concerning Facebook and California's General Fund Frequently asked questions concerning Facebook and California's General Fund Program: Revenues Finding or Recommendation: This item lists answers to frequently asked questions concerning Facebook's stock and California's General Fund budget for 2012-13.
https://lao.ca.gov/Recommendations/Details/618

LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - State tax revenue estimates regarding Facebook, therefore, require numerous assumptions. Because of these factors, there is a large margin of error surrounding both our Facebook revenue estimates and those of the administration.
https://lao.ca.gov/Recommendations/Details/596

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - It leads to higher administrative costs for the state as it is administering two financial aid programs that are serving much of the same population. Similarly, campuses must administer two programs and issue two different awards to many of the same students.
https://lao.ca.gov/Publications/Report/5127

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

Essentially, to avoid “double counting ” the Facebook income, this means that both of our revenue estimates consider the economy without Facebook and then add PIT revenues on top of those estimates to account for the IPO.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - The program is conceptually well structured and has recent empirical evidence supporting the idea that the credit is leading to a net increase in jobs in the state. Therefore, we recommend that the Legislature approve the Governor ’s proposal to extend the credit.
https://lao.ca.gov/Publications/Report/5162