State Assistance to Businesses in Response to COVID-19

Jan 4, 2024 - Larger Metro Regions Received More PPP ‑Related Tax Relief and State Grants. We  also examined how PPP eligible for state tax relief and SBCRG were distributed across metro area. As Figure 6 shows, per business in the area, larger metro regions tended to receive more in both types of assistance, most notably, Los Angeles, San  Francisco, and San Jose.
https://lao.ca.gov/Publications/Report/4824

The 2023-24 California Spending Plan: Housing and Homelessness

Oct 19, 2023 - This would be the fifth consecutive year in which the budget has proposed a one-time expansion of the state ’s housing tax credit, for a total of $2.5  billion in tax credits. $100  Million One-Time Augmentation for Multifamily Housing Program (MHP).
https://lao.ca.gov/Publications/Report/4808

The 2023-24 California Spending Plan: Housing and Homelessness [Publication Details]

Oct 19, 2023 - The 2023-24 budget provides $3.3 billion for various housing and homelessness programs within the Department of Housing and Community Development (HCD), the California Interagency Council on Homelessness (CalICH), and the California Tax Credit Allocation Committee.
https://lao.ca.gov/Publications/Detail/4808

The 2022-23 California Spending Plan: Housing and Homelessness

Sep 16, 2022 - Incentives and Support to Increase Housing Development Continues State Low-Income Housing Tax Credits. The 2022-23 budget provides HCD additional state housing tax credits. In addition to the $100  million annually that the state makes available for housing tax credits, the budget makes available an additional $500  million one time for tax credits to builders of rental housing affordable to low-income households.
https://lao.ca.gov/Publications/Report/4622

Mental Health Services Act: Proposed Bond to Fund Behavioral Health Facilities and Veterans Housing

Aug 17, 2023 - These sources include (1)  dedicated vehicle license fee and sales tax revenue streams known as “realignment ” funds, (2)  revenues from the Mental Health Services Fund (MHSF) —established by the MHSA and funded through a 1  percent tax on incomes over $1  million, and (3)  federal funding accessed through Medi-Cal.
https://lao.ca.gov/Publications/Report/4790

The 2021-22 Budget: State Board of Equalization [Publication Details]

Feb 23, 2021 - The Governor's proposed 2021-22 appropriation for the Board of Equalization (BOE) is $31.8 million, 30 percent higher than the amount spent in 2019-20. Due to vacancies, BOE spent just $24.5 million of its $31.3 million appropriation in 2019-20. This post discusses issues for the Legislature to consider as it decides how much to appropriate for BOE in the 2021-22 budget.
https://lao.ca.gov/Publications/Detail/4385

The 2021-22 Budget: State Board of Equalization

Feb 23, 2021 - Later in 2017, the Legislature passed two laws —A B  102 and A B  131 —that transferred most of BOE ’s programs, budget, staff, and facilities to the newly created California Department of Tax and Fee Administration (CDTFA) and Office of Tax Appeals (OTA).
https://lao.ca.gov/Publications/Report/4385

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - The Governor ’s budget includes nearly $3  billion in reductions, the largest of which is withdrawing a discretionary principal payment on state ’s unemployment insurance loan (which otherwise is paid by employers ’ payroll taxes).
https://lao.ca.gov/Publications/Report/4662

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Still, in any given year, the amount of revenue the entity tax generates should exceed the amount of entity tax credits used by PIT filers. Entity Tax Will Sunset in 2026 if Not Sooner. As stated above, the entity tax will be in effect from calendar years 2021 to 2025.
https://lao.ca.gov/Publications/Report/4452

The 2022-23 Budget: Overview of the Governor's Budget

Jan 13, 2022 - Taxes Business Tax Reductions Lifts Temporary Limits on Business Tax Provisions. The Governor ’s budget proposes to end, one year early, temporary limits on the ability of businesses to use NOL deductions and tax credits to reduce their tax payments.
https://lao.ca.gov/Publications/Report/4492