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

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 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

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

Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - This change had the effect of accelerating tax collections from 2009 ‑10 into 2008 ‑09, thereby improving the 2008 ‑09 budget condition. As the state ’s fiscal situation continued to deteriorate in 2009, the 2009 ‑10 budget package again changed the quarterly estimated tax payment schedule to collect 70  percent in the first half of the fiscal year and 30  percent in the second, improving the 2009 ‑10 budget condition.
https://lao.ca.gov/Publications/Report/4722

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

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

Jan 26, 2022 - This is a budget solution that the state previously has used, for example, to address the budget problem caused by the Great Recession in 2008. Net Operating Loss Deductions Smooth Business Profits and Losses Over Time.
https://lao.ca.gov/Publications/Report/4500

California's Fiscal Outlook: LAO Projections, 2007-08 Through 2012-13 [Publication Details]

Nov 14, 2007 - California's Fiscal Outlook: LAO Projections, 2007-08 Through 2012-13 [Publication Details] Press Conf Description: In order to balance the 2008–09 budget, the state will have to adopt nearly $10 billion in solutions.
https://lao.ca.gov/Publications/Detail/1681

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - In 2008 ‑09, the last year the program was operated before suspension, SCO paid property tax payments on behalf of 5,676 homeowners. For comparison, in 2008, there were nearly one million Californians who were aged 62 o r over, owned their homes, and lived in a household that had an income of less than $35,500.
https://lao.ca.gov/Publications/Report/3885

Do Communities Adequately Plan for Housing?

Mar 8, 2017 - The fourth housing element planning cycle, which began sometime between 2006 and 2008 for most cities and counties, recently ended. Most cities and counties now are a couple years into their fifth planning cycle.
https://lao.ca.gov/Publications/Report/3605