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

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

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

Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog]

Nov 18, 2025 - The administration lowered its estimate to $103 million in May 2024 and then to $65 million in May 2025. Current tax return data suggest that the total will be around $58 million. Preliminary Total for Third Quarter of 2025: $13 Million.
https://lao.ca.gov/LAOEconTax/article/Detail/842

Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog]

Nov 18, 2025 - The administration lowered its estimate to $103 million in May 2024 and then to $65 million in May 2025. Current tax return data suggest that the total will be around $58 million. Preliminary Total for Third Quarter of 2025: $13 Million.
https://lao.ca.gov/LAOEconTax/Article/Detail/842

Insurance regulation. [Ballot]

Nov 10, 2025 - Several major parts of these laws were put in place by voters with the passage of P roposition  103 in 1988. Insurers Must Get Rate Increases Approved. Most insurers in California, including those covering homes or automobiles, cannot increase their rates without getting approval from the California Department of Insurance (CDI).
https://lao.ca.gov/BallotAnalysis/Initiative/2025-020

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - This amount is similar to the amount provided in 2024-25 ($103  million). These funds support various OES victim grant programs and are intended to allow existing programs to maintain current service levels.
https://lao.ca.gov/Publications/Report/5081

Insurance regulation. [Ballot]

Sep 30, 2025 - Several major parts of these laws were put in place by voters with the passage of Proposition 103 in 19 88. Elected Insurance Commissioner in Charge of Regulating Insurance. The California Department of Insurance (CDI) enforces the state ’s insurance laws.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-012