How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

The 2026-27 Budget: K-12 Proposals

Feb 19, 2026 - Figure 6 ELOP Funding Tiers and Rates Over Time Tier 1 EL/LI Threshold Tier 1 Rate Per EL/LI Student Tier 2 Rate Per EL/LI Student 2021 ‑22
https://lao.ca.gov/Publications/Report/5131

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

The 2025-26 California Spending Plan: Proposition 98 and K-12 Education

Nov 10, 2025 - Of the total funding, $200  million will be used to extend eligibility to elementary schools that have not previously received program funding and have a student body that is at least 94  percent EL/LI.
https://lao.ca.gov/Publications/Report/5087

The 2025-26 Budget: May Revision Trailer Bill Proposals on the Delta Conveyance Project and Water Quality Control Plans

May 27, 2025 - Assuming the plan continues to incorporate elements of the VA proposals (which appears li kely given that the draft plan does so), if the Legislature approves the CEQA exemption for WQCPs it also would indirectly be helping to expedite adoption of the VA proposal.
https://lao.ca.gov/Publications/Report/5053

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Educator Workforce

Mar 7, 2025 - However, the current priority schools definition used to determine eligibility for the programs includes many schools that do not have a relatively high proportion of EL/LI students. The 55  percent EL/LI threshold for a priority school is somewhat lower than the statewide share of EL/LI students (65  percent).
https://lao.ca.gov/Publications/Report/5012