The 2026-27 Budget: Permitting Support at the State Water Resources Control Board

Mar 2, 2026 - CWA Section 401 certification (dredge/fill certification) State and Regional Water Boards For WOTUS, issued in conjunction with Section 404 permits to ensure projects also comply with state water quality standards.
https://lao.ca.gov/Publications/Report/5144

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

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

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

May 18, 2012 - Figure 6 compares the LAO May 2012 revenue estimate related to the Facebook IPO with those in other recent forecasts. The IPO was announced in February and thus was not included in the Governor ’s January 2012 forecast. ( Additional information on our May 2012 Facebook IPO revenue forecast was published on this website on May 15.)
https://lao.ca.gov/Recommendations/Details/599

^[PDF] Overview of the May Revision: Proposition 98_6.04.09

Overview of the May Revision: Proposition 98_6.04.09 Baseline/other $280 Make various technical adjustments K-12 Education Revenue limits -$1,424 Reflects new cut of 4 percent (total cut of 7 percent)a Categorical flex item -1,424 Reflects cut of 42 percent to each program in flex itemb K-3 Class Size Reduction (CSR) -442 Add to flex item, reduce proportional to other programs Home-to-School
https://lao.ca.gov/handouts/conf_comm/2009/Overview_of_the_May_Revision_6.04.09.pdf

The 2012-13 Budget: Economic and Revenue Update [Publication Details]

Feb 27, 2012 - Like the economic data, reports concerning state revenues have been mixed recently too, with weakness in income tax payments accompanied by speculation concerning a future bonanza of tax revenues due to the possible offering of stock by Facebook, Inc.
https://lao.ca.gov/Publications/Detail/2578

LAO Analysis of the 2002-03 Budget: Education, Governor's Distinguished Math and Science Scholars Program

Chapter  404, Statutes of 2000 (SB 1688, Polanco), established the Governor's Distinguished Mathematics and Science Scholars Program to provide $2,500 scholarships to approximately 2,400 s tudents achieving high scores on advance placement (AP) tests in calculus, biology, chemistry, or physics.
https://lao.ca.gov/analysis_2002/education/ed_06_cc_MathandScience_Scholars_anl02.htm