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

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

Disabled Veteran Business Enterprise Program Review

Dec 2, 2025 - Of the 230 investigations initiated between January 2021 and April 2025, 163 were certification compliance reviews designed to ensure vendor certification files were cu rrent, complete, and in compliance; and 67  involved cases of alleged program abuse.
https://lao.ca.gov/Publications/Report/5095

The 2025-26 California Spending Plan: Human Services

Nov 21, 2025 - Of the total 2025-26 DDS budget, $18.2  billion is for the regional center system, $310  million is for the state-operated facilities program, and $163  million is for DDS headquarters staff and activities.
https://lao.ca.gov/Publications/Report/5086/1

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: Natural Resources and Environmental Protection

Oct 16, 2025 - The budget includes $260  million —$91.5  million General Fund and $168.5  million in lease revenue bonds —for CalFire capital outlay projects in 2025-26, of which $163  million is newly approved and $97  million was approved as part of previous budget agreements.
https://lao.ca.gov/Publications/Report/5080

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: Department of Financial Protection and Innovation

Apr 3, 2025 - Chapter  163 of 2020 (SB  908, Wieckowski) requires DFPI to establish a regulatory and licensing system to oversee debt collectors. DFPI began implementing SB  908 on January 1, 2021 and started accepting applications for licensure on September 1, 2021.
https://lao.ca.gov/Publications/Report/5025