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

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

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Provides Grants to Develop Zero –Textbook –Cost Degrees. The budget provides $5  million to create these degree pathways, which allow students to complete an associate degree or CTE certificate program entirely by taking courses that use only free, open educational resources.
https://lao.ca.gov/Publications/Report/3487/3

The 2018-19 Budget: Overview of the Governor's Budget

Jan 12, 2018 - The college would create and coordinate online courses and programs targeted towards working adults with a high school diploma but lacking a college degree or certificate. Additionally, the Governor proposes a $ 70  m illion package of initiatives to provide county and regional support to low ‑performing districts.
https://lao.ca.gov/Publications/Report/3731

The 2015-16 Budget: California Spending Plan

Oct 19, 2015 - Statute specifies that performance measures must include improved literacy; attainment of high school diplomas or their equivalent; number of certifications, postsecondary degrees, or completion of training programs; job placement; and improved wages.
https://lao.ca.gov/Publications/Report/3302

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Plans to Increase Degree and Credential Production. The budget act requires all three segments to submit reports to the Legislature and DOF by March  1, 2017 on how they will increase the number of degrees and certificates they produce.
https://lao.ca.gov/Publications/Report/3487/5

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - Funds could be used for a variety of services, including English language learning, basic skills and adult education, training stipends, industry ‑approved certification programs, pre ‑apprenticeship, and on ‑the ‑job training, among others.
https://lao.ca.gov/Publications/Report/3870/12

The 2022-23 Budget: Multiyear Budget Outlook

May 24, 2022 - In contrast to the Governor’s approach, we recommend the Legislature address the state’s constitutional SAL requirements in its budget architecture throughout the multiyear. Additional Reserves Would Mitigate SAL and Recession ‑Induced Budget Problems.
https://lao.ca.gov/Publications/Report/4602

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

The 2022-23 Budget: Initial Comments on the State Appropriations Limit Proposal

Feb 4, 2022 - Although the Legislature does not need to finalize its budget now, determining the architecture of its preferred approach will increase its flexibility.   Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4515