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

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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

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

^[PDF] Building Reserves to Prepare for a Recession

Proposition 58 allowed these deposits to be suspended by an executive order issued by the Governor. Between 2004 and 2014 only two transfers were made to the BSA under the provisions of Proposition 58.
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] Economic and Budget Developments

The Gov- ernor also deleted $26 million from the com- munity colleges earmarked for program im- provement, and set aside the funds for other purposes, consistent with Proposition 98 fund- ing requirements.
https://lao.ca.gov/reports/1996/update_california_7-1996.pdf

^[PDF] UPDATE MAY 1997

This com- pares with a budget estimate of only about a 1 percent decline in the cur- rent year. Furthermore, the number of eligibles in most other Medi-Cal categories is growing more slowly than the budget had estimated.
https://lao.ca.gov/1997/cal_update/may_97_calupdate.pdf

^[PDF] Performance Budgeting Pilot Project

. ~ Proposed measures do not, for the most part, allow the Legislature to evaluate the DPR's progress from one year to the next with much consistency, because of the absence of baseline data or performance com- mitments which are good for only one year. ~ The administration's 1996-97 goal to have the DPR's entire program expressed in terms of budgeted funds and
https://lao.ca.gov/reports/1995/performance_budgeting_pilot_project_(s)_subcommittee_2.pdf

^[PDF] LAO 1996 Budget Analysis: Capital Outlay Chapter

(The first three projects listed in Figure 10 include a total of $150,000 for studies that the CDC indicates have been com- pleted; thus, these funds will not be needed for 1996-97.) Upon comple- tion of the preliminary plans that delineate the project scope and cost, the Legislature could consider requests in 1997-98 for working drawings and construction to complete these projects.
https://lao.ca.gov/analysis_1996/a96i.pdf