The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - The 2019-20 May Revision: Opportunity Zones The 2019-20 May Revision Opportunity Zones Summary. The Governor proposes to allow state tax benefits for investments in alternative energy or affordable housing in communities designated as Opportunity Zones under a new federal program.
https://lao.ca.gov/Publications/Report/4038

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - In years where the program is fully subscribed, there is an opportunity cost associated with an agreement that is not fulfilled. Namely, those tax credits could have been awarded to another applicant who would have been more likely to achieve their milestones.
https://lao.ca.gov/Publications/Report/5162

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - For example, in our analysis The 2019‑20 Budget: Opportunity Zones , we argued that creating a new state Opportunity Zone program to fund affordable housing would add an unnecessary layer of complication to the financing of affordable housing.
https://lao.ca.gov/Publications/Report/4331

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - To support this sustained effort, we recommend that the Legislature set up opportunities to revisit program resources in the 2027 and/or 2028 budget processes. The administration has been spending General Fund on cannabis tax enforcement, which should be funded exclusively by the Cannabis Tax Fund.
https://lao.ca.gov/Publications/Report/5132

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - If the Legislature wants to expand support for commercial activities, other programs provide more promising opportunities. In light of these issues, we recommend that the Legislature reject the proposal.
https://lao.ca.gov/Publications/Report/5018

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - Opportunity Zones Certain Economically Distressed Areas Identified as Opportunity Zones. The 2017 federal tax changes established Opportunity Zones to increase investment in certain economically distressed areas.
https://lao.ca.gov/Publications/Report/3959

California’s First Film Tax Credit Program

Sep 29, 2016 - Opportunity Costs All actions have an opportunity cost. Opportunity cost is the economic value of the best alternative use of funds and other resources, such as workers and materials. In our evaluation of the economic effects of the first film tax credit, we must account for two kinds of opportunity costs: The $800  million in foregone state tax revenue the government would have used for other purposes.
https://lao.ca.gov/Publications/Report/3502

Evaluation of a Sales Tax Exemption for Certain Manufacturers

Dec 11, 2018 - Omits Opportunity Cost . . . As discussed in the “Assessment ” section of the report, the net effects of a policy depend crucially on the next best alternative use of resources —also known as the “opportunity cost. ” In the context of the CAEATFA exemption, the opportunity cost would be an alternative use of the forgone revenue —such as spending on transportation infrastructure.
https://lao.ca.gov/Publications/Report/3907

Income Mobility in California Across Generations

Jan 4, 2017 - In general, we expect to observe more mobility if opportunities are more equal. Consequently, these estimates may signal how effectively California is promoting equality of opportunity for its residents.
https://lao.ca.gov/Publications/Report/3518

Overview of Diversity Efforts in the Film Tax Credit Program

May 1, 2025 - The definition of DEIA adopted by the CFC and in the California Code of Regulations includes a commitment to provide equitable access to opportunities on the basis of a wide range of protected classes.
https://lao.ca.gov/Publications/Report/5036