California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Whereas California’s labor market has stagnated over the last two years, the S&P 500 stock index has appreciated roughly 50 percent over the same period. And most of this increase has come from skyrocketing share prices among a handful of firms associated with innovations in Artificial Intelligence (AI).
https://lao.ca.gov/Publications/Report/5104

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

^[PDF] Supplemental Report of the 2004 Budget Act

Samuel P. Taylor State Park—Install New Concrete Water Reservoirs. The budget provides $199,000 for preliminary plans to replace the two deteriorating water storage tanks. Total project cost is $1,798,000 (CCCI 4100) including pre- liminary plans ($199,000), working drawings ($138,000), and construction ($1,461,000).
https://lao.ca.gov/2004/supp_report/supp_rpt_2004_budget_act.pdf

^[PDF] Supplemental Report of the 2003 Budget Act

The amount of $235,000 is provided for p liminary plans ($277,000) and working drawings (367,000) to install a ten-foot high perimeter security fence to protect the new Office of Emergency Services Headquarters facility.
https://lao.ca.gov/2003/supp_report/supp_rpt_2003_budget_act.pdf

^[PDF] HMOs and Rural California

In those rural areas where these steps are not enough to attract HMOs, we identify ways com- munities can develop their own health care sys- tems based on the experience of one rural California county. ■ August 8, 2002 2 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 A N L A O R E P O R T INTRODUCTION How and Why the LAO Conducted This Study Chapter 208,
https://lao.ca.gov/2002/hmos_rural_ca/8-02_hmos_rural_ca.pdf

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

Jan 20, 2026 - These plans would describe how companies intend to fulfill their stated p ublic benefit or humanitarian commitments, ensure safety and human oversight of AI systems, and address governance and concentration-of-power concerns.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

^[PDF] Reforming Davis-Dolwig: Funding Recreation in the State Water Project

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 a n L a O R e p O R t 18 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 a n L a O R e p O R t 19 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 a n L a O R e p O R t 20 LAO Publications This report was prepared by Caroline Godkin, and reviewed by Mark Newton.
https://lao.ca.gov/2009/rsrc/Reforming_Davis-Dolwig/Davis-Dolwig_030909.pdf

^[PDF] Supplemental Report Of the 2002 Budget Act 2002-03 Fiscal Year CONTAINING STATEMENTS OF INTENT ADOPTED BY THE LEGISLATURE OR REQUESTS FOR STUDIES

The DMH shall report its findings to the Joint Legislative Budget Com- mittee and the fiscal committees of both houses of the Legislature by March 1, 2003. Supplemental Report of the 2002 Budget Act Page 25 2.
https://lao.ca.gov/2002/supplemental_report/supp_rpt_2002_budget_act.pdf