The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Second, any unawarded credits from the previous fiscal year can be added to the pool of available credits for the current fiscal year. Credit Pool Has Ballooned to over $923  million for the Current Year.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - The Commission determined that Los Angeles County incurred reimbursable costs processing deferment requests and adding the required disclosure to property tax bills. The Commission determined that the county incurred a total amount of about $30,000 in back-year costs (incurred between 2022 and 2024), and about $8,000 in ongoing costs thereafter.
https://lao.ca.gov/Publications/Report/5130

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - Actual spending on the Tobacco Licensing Program declined from $9.1  million in 2021 ‑22 to $6.9  million in 2024 ‑25, while actual spending on the Cannabis Tax Program grew from $8.4  million in 2021 ‑22 to $16.2  million in 2024 ‑25.
https://lao.ca.gov/Publications/Report/5132

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - The budget package provides a blanket exemption for settlements related to any wildfire occurring between tax years 2021 and 2029. Previously, state law provided income tax exemptions for wildfire settlements on a case-by-case basis.
https://lao.ca.gov/Publications/Report/5081

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - Grant Program Added as Alternative to Tax Credits. Since the tax credit is nonrefundable, businesses without a significant California tax liability cannot utilize the credit. To address this, the 2021, 2022, and 2023 Budget Acts each provided one-time funding of $120  million for a grant program to supplement the tax credit.
https://lao.ca.gov/Publications/Report/5018

The 2023-24 Budget: California's Film Tax Credit

Feb 28, 2023 - In addition to the added requirements of Program 2.0, production companies must have a written policy against sexual harassment and provide a summary of programs to increase workplace diversity. a Only $230 million was available in the first year of Program 2.0 because it was concurrent with the first credit.
https://lao.ca.gov/Publications/Report/4713

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - The idea of adding grants to California Competes raises questions that require significant Legislative deliberation. Due to these concerns and others, we suggest that the Legislature instead focus on expanding the Main Street Credit proposal.
https://lao.ca.gov/Publications/Report/4327

Overview of Diversity Efforts in the Film Tax Credit Program

May 1, 2025 - Chapter  114 of 2021 (S B  144 , Portantino) required our office to issue a report summarizing the workforce diversity information collected by the California Film Commission (CFC) and evaluate the effectiveness of the tax credit for increasing diversity.
https://lao.ca.gov/Publications/Report/5036

The 2025-26 Budget: CDTFA’s Tobacco Programs

Feb 14, 2025 - Since the flavor ban, however, revenues have declined much faster, from $1.84  billion in 2021-22 to $1.6  billion in 2022-23, then to $1.35  billion in 2023-24 (not including the new tax on electronic cigarettes).
https://lao.ca.gov/Publications/Report/4966

Annual Report on Tax Exemptions for Medicinal Cannabis

Jun 24, 2022 - As shown in Figure  1, licensees donated a wide variety of products in 2021. Figure 1 Amounts of Products Donated Under SB 34 Exemption in 2021 Product
https://lao.ca.gov/Publications/Report/4608