Building Reserves to Prepare for a Recession

Mar 7, 2018 - Legislature Has Limited Control Over BSA Deposits and Withdrawals. Under the rules of Proposition  2, the Legislature can only reduce the BSA deposit, or make a withdrawal from the BSA reserve, in the case of a budget emergency.
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 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - The budget provides the Department of Finance with authority to augment CMD ’s budget by up to $4.8  million if CMD receives federal matching funds for the purpose of replacing three deteriorating heating, ventilation, and air conditioning systems at the Azusa, Sacramento-Okinawa, and Fresno-Hammer Field armories.
https://lao.ca.gov/Publications/Report/5081

Evaluation of a Tax Exemption for Zero-Emission Buses

Apr 15, 2024 - Under the ICT, CARB will exempt a transit agency from the requirements described above under specified conditions outside the agency ’s control, including: The agency declares a financial emergency. Delayed construction of infrastructure.
https://lao.ca.gov/Publications/Report/4890

The 2017-18 Budget: Governor's Gann Limit Proposal

Mar 2, 2017 - As revenues surged during the dot ‑com boom of the late 1990s, however, the state approached the limit. The state had excess revenues in 1999 ‑00, but because appropriations were under the limit in 2000 ‑01, additional Proposition  98 spending and taxpayer rebates were not required.
https://lao.ca.gov/Publications/Report/3596

Annual Report on Tax Exemptions for Medicinal Cannabis

Jun 24, 2025 - Our office obtained the data described below from the Department of Cannabis Control and the California Department of Tax and Fee Administration (CDTFA). The data come from the state ’s Metrc “track and trace” system for licensed cannabis.
https://lao.ca.gov/Publications/Report/5059

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

Annual Report on Tax Exemptions for Medicinal Cannabis

Jun 13, 2024 - Our office obtained the data described below from the Department of Cannabis Control and the California Department of Tax and Fee Administration (CDTFA). The data come from the state ’s Metrc “track and trace ” system for licensed cannabis.
https://lao.ca.gov/Publications/Report/4912

An Update on California’s Cash Management Situation

Aug 31, 2020 - Controller ’s cash, by contrast, is the best method for understanding the state ’s monthly cash position. As a result, we rely on Controller ’s cash data in this post, but our monthly revenue tracking posts use agency cash.
https://lao.ca.gov/Publications/Report/4266