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

Addressing Chronic Vacancies in Prison Mental Health Care

Feb 23, 2026 - In July and August 2025, SQRC ’s vacancy rate was 0   percent —well under the court ‑ordered 10  percent vacancy rate. During a site visit in July 2025, SQRC staff noted that retention was high at the prison, and that new applicants have had to be placed on the waitlist because of how well staffed the prison is.
https://lao.ca.gov/Publications/Report/5134

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

Retail Theft in California: Looking Back at a Decade of Change

Jun 12, 2025 - In April 2020, the Judicial Council (the policymaking and governing body of the judicial branch) adopted a statewide emergency bail schedule that set bail for arrestees at $0 for most misdemeanors and low ‑level felonies.
https://lao.ca.gov/Publications/Report/5055

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: In-Home Supportive Services

Mar 6, 2025 - Since the program began in October 2022 through June 2024 (the most recent month of expenditures data), less than $900,00 0 total funds have been spent on Backup Provider services. At this time, we do not have any concerns with the administration ’s estimates.  
https://lao.ca.gov/Publications/Report/5009

The 2025-26 Budget: Food Assistance Programs

Feb 19, 2025 - As of January 2025, we understand the administration has revised the projected savings associated with the delay to $0 in 2024-25 and about $104 million General Fund in 2025-26. We are working with the administration to better understand these downward revisions.
https://lao.ca.gov/Publications/Report/4971