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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

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] Proposition 7--The Solar and Clean Energy Act of 2008

Provides conditions under which CPUC or the Energy Com- mission may waive RPS-related penalties. Proposition 7’s Provisions (Continued) 6L E G I S L A T I V E A N A L Y S T ’ S O F F I C E September 10, 2008 Directs the Use of RPS Penalty Revenues.
https://lao.ca.gov/handouts/resources/2008/Proposition%207_91008.pdf

^[PDF] Voters FIRST Act for Congress 2021

In November 2008, voters passed Proposition 11, which created the Citizens Redistricting Commission (commis- sion) to establish new district boundaries for the State Assembly and the State Senate, as well as BOE, beginning after the 2010 census.
https://lao.ca.gov/ballot/2010/100102.pdf

^[PDF] Supplemental Report of the 2006 Budget Act

On or before January 10, 2008, the State Lands Com- mission shall report to the chairs of the appropriate policy committees and the fiscal committees in both houses on its audit program, including information on the number of leases, the revenue generated from each leases, and the frequency with which each is audited given current staffing.
https://lao.ca.gov/2006/supp_report/supp_rpt_2006.pdf

^[PDF] Fiscal Implications for the 1115 Waiver Renewal

State’s Fiscal Outlook and Medi-Cal Growth Projections 2L E G I S L A T I V E A N A L Y S T ’ S O F F I C E November 18, 2009  Overall state and federal Medi-Cal spending in 2008-09 is estimated at about $38 billion, including expenditures in the Department of Health Care Services (DHCS) as well as com- ponents of Medi-Cal administered by the Department of
https://lao.ca.gov/handouts/Health/2009/Fiscal_Implications_11_18_09.pdf

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

^[PDF] CalWORKs Program Overview Hearing

CalWORKs Program Overview Hearing Moving Toward Self-Sufficiency: Allowable Activities LAO 60 YEARS OF SERVICE L E G I S L A T I V E A N A L Y S T ’ S O F F I C E March 9, 2005 3 " One-Parent Family: A family is eligible for the one-parent com- ponent of the program if it includes a child who is financially needy due to the death, incapacity, or continued absence of one or both
https://lao.ca.gov/handouts/socservices/2005/CalWORKs_program_030905.pdf

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Figure  3 shows estimates of tax revenue losses associated with each of the last three recessions: the recession of the early 1990s, the dot ‑com bust and ensuing recession in the early 2000s, and the financial crisis and Great Recession beginning in 2008.
https://lao.ca.gov/Publications/Report/3769