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

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

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 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Appendix 4, Figure 4 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Housing and Homelessness General Fund (In millions) Homeless Housing, Assistance, and Prevention Program (HHAPP) $1,100 Veteran Housing and Homeless Prevention Program 50 $345 $100 a By the time the HHAPP costs are incurred, the program will have transferred to from BCSH Agency to HCD.
https://lao.ca.gov/Publications/Report/4788/4

The 2022-23 Budget: Initial Comments on the State Appropriations Limit Proposal

Feb 4, 2022 - The 2022-23 Budget: Initial Comments on the State Appropriations Limit Proposal 100 a Partial exclusions. Note: Includes proposals using General Fund surplus monies greater than $100 million. For a complete list of all proposals, see: https://lao.ca.gov/reports/2022/4492/Overview‑Appendix‑011422.pdf .
https://lao.ca.gov/Publications/Report/4515

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - Creates an online community college ($20  million ongoing, $100  million one time). Healthcare and Mental Health Allocates $1.3  billion in Proposition  56 revenues to Medi ‑Cal, largely for provider payment increases.
https://lao.ca.gov/Publications/Report/3870/1

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - The budget provides about $2   billion to the SFP in 2023 ‑24, which is $100   million less than the previously intended augmentation, and continues to assume an additional $875   million will be provided in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4788

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Main Street Credit Legislature Created $100  Million Credit for Businesses Hurt by Pandemic in 2020. In September 2020, the Legislature instituted the Main Street Small Business Tax Credit, which provides income or sales tax credits to firms with 100 or fewer employees that added jobs in the second half of 2020.
https://lao.ca.gov/Publications/Report/4452

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - In addition, the administration includes roughly 70 other proposals, each with an estimated cost of less than $100  million. ( Appendix 1 provides a full listing of these items.) All Other Changes Improve Budget Bottom Line by $2   Billion.
https://lao.ca.gov/Publications/Report/5044

The 2019-20 Budget: California Spending Plan—Debt Liabilities

Oct 17, 2019 - First, in each of the four fiscal years of the MOU (2019 ‑20, 2020 ‑21, 2021 ‑22, and 2022 ‑23), the Motor Vehicle Account will contribute $25  million —totaling to $100  million over the four years —to the highway patrol retirement benefit.
https://lao.ca.gov/Publications/Report/4106