CalFacts 2024 [Publication Details]

Dec 2, 2024 - CalFacts presents a wide range of facts and trends about the state's economy, finances, and programs.
https://lao.ca.gov/Publications/Detail/4942

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - On a net basis, these items slightly improve the budget’s bottom line. Neither our November estimates nor the administration ’s estimates included any costs associated with the devastating wildfires in Southern California, as both were developed before those wildfires began.
https://lao.ca.gov/Publications/Report/4951

The 2022-23 Budget: Medi-Cal Fiscal Outlook

Nov 17, 2021 - Significant Underlying Net Cost Growth Underlying Net Cost Growth Averaging Around $900 Million Annually Throughout the Forecast Window. Underlying net cost growth reflects the fiscal impact of changes in the Medi ‑Cal caseload and per ‑enrollee costs.
https://lao.ca.gov/Publications/Report/4474

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - Safety Net Reserve. The Governor also proposes withdrawing the entire balance of the Safety Net Reserve—$900 million. Withdrawing the entire balance of the Safety Net Reserve may not be consistent with legislative intent.
https://lao.ca.gov/Publications/Report/4825

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - Preliminary Franchise Tax Board data show that net capital gains in 2016 totaled $110 billion. We estimate that net capital gains increase to $150 billion in 2017 and $162 billion in 2018, driven primarily by recent increases in stock market values.
https://lao.ca.gov/Publications/Report/3830

The 2024-25 Budget: Initial Comments on the Governor’s May Revision

May 17, 2024 - Safety Net Reserve . Similar to January, the Governor also proposes withdrawing the entire balance of the Safety Net Reserve —$900  million. The Safety Net Reserve was designed to help cover costs of increasing caseload in Medi-Cal and the California Work Opportunity and Responsibility to Kids program in the event of an economic downturn.
https://lao.ca.gov/Publications/Report/4902

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - For example, in 2020 ‑21, the state temporarily suspended net operating loss (NOL) deductions, preventing corporations with net income over $1  million from using NOLs. The state also limited businesses from claiming more than $5  million in tax credits.
https://lao.ca.gov/Publications/Report/4819

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - On  net, our assessment of the budget condition finds the state would have a small deficit of $2  billion. Given the size and unpredictability of the state budget, we view this to mean the budget is roughly balanced.
https://lao.ca.gov/Publications/Report/4939

The 2019-20 May Revision: Initial Comments on the Governor’s May Revision

May 12, 2019 - This total would consist of (1)  $16.5  billion in the Budget Stabilization Account, the state ’s constitutional reserve; (2)  $1.6  billion in the special fund for economic uncertainties (SFEU), which is available for any purpose including unexpected costs related to disasters; (3)  $900  million in the Safety Net reserve, which is available for spending on the state ’s safety
https://lao.ca.gov/Publications/Report/4039

With New Deficits Looming, California Will Weigh its Options for Allocating a Large Revenue Windfall

Dec 1, 2020 - Second, rebuilding budget resilience is crucial to ensuring that the state can maintain its safety net programs when they are needed most —in times of economic stress. Consider the most recently completed budget process.
https://lao.ca.gov/Publications/Report/4305