The Property Tax Inheritance Exclusion

Oct 9, 2017 - In 1986, voters approved Proposition   58 —a legislative constitutional amendment —which excludes certain property transfers between parents and children from reassessment. A decade later, Proposition  193 extended this exclusion to transfers between grandparents and grandchildren if the grandchildren ’s parents are deceased.
https://lao.ca.gov/Publications/Report/3706

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Budget Stabilization Account Proposition   58 Governed BSA From 2004 t o 2014. Until 2014, the BSA was governed by Proposition  58. Passed by voters in 2004, Proposition   58 r equired the state to make an annual transfer into the BSA.
https://lao.ca.gov/Publications/Report/3769

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

Mar 9, 2026 - The three minor downturns  (1981, 1987, and 1990) led to income tax declines of less less than 10 percent (average of 5 percent), with revenues recovering quickly. The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent).
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The three minor downturns  (1981, 1987, and 1990) led to income tax declines of less less than 10 percent (average of 5 percent), with revenues recovering quickly. The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent).
https://lao.ca.gov/LAOEconTax/article/Detail/852

^[PDF] Building Reserves to Prepare for a Recession

First, between 1990 and 2000, the General Fund All General Fund Tax Revenues Personal Income Tax Is the Dominant State Revenue Source Figure 1 1950-51 1960-61 1970-71 1980-81 1990-91 2000-01 2010-11 Personal Income Tax Percent Change From Prior Fiscal Year Income Tax Is More Volatile Than Income Figure 2 1995-96 2000-01 2005-06 2010-11 2015-16 Personal Income 2 0
https://lao.ca.gov/reports/2018/3769/prepare-for-recession-030718.pdf

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

^[PDF] THE ECONOMIC AND FISCAL IMPACTS OF CALIFORNIA'S AIRCRAFT GROUND TIME EXEMPTION

State Subvention Payments to Local Governments State Reimbursements Versus Actual Property 5 ECONOMIC EFFECTS OF CHAPTER 1169 .............................. 11 Existing Maintenance Facilities .......................... 11 Maintenance of Own Aircraft ......................... 11 Contract Maintenance................................
https://lao.ca.gov/reports/1979/02_fiscal_impacts_of_californias_aircraft_ground_time_exemption.pdf

Firearms and Ammunition Revenue Update (2025 Q2) [EconTax Blog]

Aug 18, 2025 - Preliminary Total for 2024-25: $58 Million. For firearm and ammunition excise tax returns filed for 2024-25, the total amount of tax due is $58 million —a bit lower than the budget package revenue assumption.
https://lao.ca.gov/LAOEconTax/Article/Detail/836

^[PDF] Funding and Implementation of the 2009 Delta Legislation

Proposed Delta Stewardship Council Budget Positions Proposed for Delta Stewardship Council Executive 19 Administration 14 Science 12 Planning and accountability 8 External affairs 5 Total 58 10L E G I S L A T I V E A N A L Y S T ’ S O F F I C E March 9, 2010  Financing Plan Necessary.
https://lao.ca.gov/handouts/resources/2010/Funding_and_Implementation_of_the_2009_Delta_Legislation_3910.pdf

Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog]

Nov 18, 2025 - Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog] Firearms and Ammunition Revenue Update (2025 Q3) November 18, 2025 Seth Kerstein Beginning July 2024, Chapter 231 of 2023 (AB 28, Gabriel) imposed an 11 percent excise tax on retail sales of firearms, firearm precursor parts, and ammunition, with some exemptions.
https://lao.ca.gov/LAOEconTax/Article/Detail/842