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

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

Managing California’s Cash

Sep 3, 2019 - After a period of relative calm in the mid ‑ and late ‑1990s, California faced another series of years with acute budget problems following the dot ‑com bust and ensuing recession. Although the dot ‑com bust was relatively mild in economic terms, it hit the California budget —which is particularly reliant on the Bay Area ’s technology sector —especially hard.
https://lao.ca.gov/Publications/Report/4092

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - The department runs three tobacco ‑focused programs: The Cigarette and Tobacco Products Tax Program administers a $2.87 per pack tax on combustible cigarettes and a 54  percent tax (adjusted annually) on the wholesale cost of other tobacco products, such as e ‑cigarettes, cigars, and chewing tobacco.
https://lao.ca.gov/Publications/Report/5132

The 2024-25 Budget: Governor's Office of Business and Economic Development

Feb 20, 2024 - We estimate the Governor ’s budget predicts the state ’s 2024-25 budget will need to address a $58 billion deficit . In December, our office predicted a somewhat large deficit of $68 billion . Since then, recent data has continued to point to the budget problem being larger than the Governor’s budget assumes.
https://lao.ca.gov/Publications/Report/4846

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - This is a net decrease of $54  million (3  percent) from the revised 2024-25 level. (This does not reflect some adjustments related to Control Sections 4.05 and 4.12 of the 2024-25 and 2025-26 budgets.
https://lao.ca.gov/Publications/Report/5081

How Will Aging Baby Boomers Affect Future Property Tax Revenues?

Jun 20, 2017 - California voters, however, passed Proposition  58 in 1986, which amended the California Constitution to exempt transfers between parents and children (and later grandparents and grandchildren under certain circumstances under Proposition  193 [1996]) from revaluation.
https://lao.ca.gov/Publications/Report/3693

The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - In  anticipation of a $54  billion budget problem, Chapter  8 of 2020 (A B  85 , Committee on Budget) limited the use of net operating loss deductions and business credits for 2020, 2021, and 2022 to temporarily increase tax revenue.
https://lao.ca.gov/Publications/Report/4500

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - To shed light on this issue, we next compare the statewide minimum wage to housing costs across California ’s 58 counties. Measuring Housing Affordability. To assess housing affordability for minimum-wage workers, we compare monthly earnings for full-time workers making the main minimum wage in each county to HUD ’s estimate of “fair market rent ” for housing in that county.
https://lao.ca.gov/Publications/Report/4878/3