Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
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

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation The 2026‑27 Budget State Mandate —Disclosure Requirements and Deferral of Property Taxation Constitution Requires the State to Reimburse Local Governments for Mandated Activities.  
https://lao.ca.gov/Publications/Report/5130

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - One study used detailed administrative data on applicants and awards to show that tax credit-supported project s are associated with positive employment effects in surrounding areas, consistent with net job creation rather than displacing other existing economic activity.
https://lao.ca.gov/Publications/Report/5162

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

Feb 23, 2026 - Proactive enforcement activities —such as field inspections —are different. There is no fixed number of inspections that must be conducted. Instead, the right number of inspections depends on costs and benefits —some of which, like deterring illegal activities and promoting fair competition, can be very difficult to quantify.
https://lao.ca.gov/Publications/Report/5132

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 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - The budget package allocates funds authorized by Proposition  4, which provided $10  billion in bond funds for activities designed to increase the state ’s resilience to the impacts of climate change.
https://lao.ca.gov/Publications/Report/5081

Local Sales Tax Rebates in 2023-24

Sep 16, 2025 - The second is encouraging retailers to shift the legally-defined place of sale without changing the location of any real economic activity. E-commerce can enable this type of revenue shifting. As another example, consider a fuel supplier that makes advance sales of large amounts of fuel from a sales office.
https://lao.ca.gov/Publications/Report/5074

The 2025-26 Budget: Update on Implementation of New Firearm and Ammunition Tax

Feb 19, 2025 - Subject to Legislative Appropriation $50.0 CDE Program or activities (such as physical security improvements and school ‑based mental health services) addressing risk factors for gun violence affecting K ‑12 students. 3 15.0 JC Court ‑based firearm relinquishment grant program to facilitate removal of firearms and ammunition from individuals who become prohibited from owning or
https://lao.ca.gov/Publications/Report/4970

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943