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

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 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 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - Local Air District A B   617 Implementation. The spending plan includes $ 50  m illion one ‑time (Air Pollution Control Fund) to continue support for local air district costs of implementing Chapter   136 o f 2017 (A B  617 , C.
https://lao.ca.gov/Publications/Report/4263

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

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

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 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Major New Control Sections in the Spending Plan This section describes the major new control sections in the 2021 ‑22 Budget Act . The first three —Control Sections 11.91, 11.95, and 11. 96 —provide the administration with additional flexibility to expend state and federal funds.
https://lao.ca.gov/Publications/Report/4452

The 2017-18 Budget: California Highway Patrol

Feb 9, 2017 - In addition to CHP, the MVA also provides funding to the Department of Motor Vehicles and the Air Resources Board. Governor ’s Proposal Acquisition, Construction, and Lease Arrangements for New CHP Area Offices.
https://lao.ca.gov/Publications/Report/3551

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - The 2024-25 Budget: Overview of the Governor's Budget $3,135 $4,677 BCH = Secretary for Business, Consumer Services, and Housing Agency; HHAPP = Homeless Housing, Assistance, and Prevention Program; FHC = Family Homelessness Challenge Grants; BSCC  =  Board of State and Community Corrections; CalFire = California Department of Forestry and Fire Protection; CalRecycle = California Department of
https://lao.ca.gov/Publications/Report/4825/1