LAO commentary on Facebook IPO and state revenue forecasts

May 15, 2012 - In light of the significant interest in Friday ’s planned IPO, however, we are releasing the following description of our office ’s Facebook revenue estimates a few days early. The assumed Facebook IPO revenues represent a small part —less than 2 percent —of the state ’s overall revenue forecasts in 2012-13.
https://lao.ca.gov/Recommendations/Details/596

Frequently asked questions concerning Facebook and California's General Fund

Aug 1, 2012 - Facebook is assumed to generate under $2 billion (about 1 percent) of this total, and much of that revenue  should still materialize even if the company 's stock price remains depressed.  As noted above, if the company 's stock price remains depressed, hundreds of millions of  income tax dollars assumed in the 2012-13 state budget plan are at risk.
https://lao.ca.gov/Recommendations/Details/618

Summary of LAO Findings and Recommendations on the 2012-13 Budget

In light of the significant interest in Friday ’s planned IPO, however, we are releasing the following description of our office ’s Facebook revenue estimates a few days early. The assumed Facebook IPO revenues represent a small part —less than 2 percent —of the state ’s overall revenue forecasts in 2012-13.
https://lao.ca.gov/laoapp/budgetlist/PublicSearch.aspx?PolicyAreaNum=70&KeyCol=596&Yr=2012

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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: Community College Facilities

Mar 17, 2026 - As Figure  2 shows, the Governor proposes to fund all ten projects selected by the Chancellor ’s Office. The Governor ’s budget includes $28  million Proposition  2 bond funds for the preliminary plans and working drawings phases of these projects.
https://lao.ca.gov/Publications/Report/5159

The 2026-27 Budget: Community College Facilities [Publication Details]

Mar 17, 2026 - This post assesses the Governor’s proposals to fund the second batch of community college capital outlay projects under Proposition 2, an education facilities bond.
https://lao.ca.gov/Publications/Detail/5159

Background information on LAO's May 2012 economic and revenue forecasts

May 18, 2012 - Figure 2 compares the LAO ’s key May 2012 economic forecast variables for calendar years 2012 and 2013 with those included in (1) the 2012-13 Governor’s Budget in January 2012 , (2) the LAO’s February 2012 forecast , and (3) the Governor’s May Revision of May 14, 2012 .
https://lao.ca.gov/Recommendations/Details/599

The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal - The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal [Video]

To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal February 24, 2016 Watch it on YouTube .
https://lao.ca.gov/Videos/Player?playlistId=101

Long-term Capacity for Debt Payments Under Proposition 2

Dec 21, 2017 - Provisions of Proposition  2 Key Provisions of Proposition  2. Proposition  2 requires the state to make: (1) minimum annual payments toward certain eligible debts (until 2029 ‑30) and (2) deposits into the state ’s rainy day fund.
https://lao.ca.gov/Publications/Report/3727