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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Moreover, investors have been aggressive in taking on high levels of margin debt (borrowing to buy stocks), which has reached approximately three times the historical norm. These and other indicators are at levels previously only seen at times when the market was approaching a peak before entering a period of retrenchment.
https://lao.ca.gov/Publications/Report/5104

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

Jan 20, 2026 - If such changes affect company profits or employment levels in California, it would affect state and local tax revenues. Whether this woul d occur is uncertain. Summary of Major Fiscal Effects. 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

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] CalWORKs Program Overview Hearing

CalWORKs Program Overview Hearing Moving Toward Self-Sufficiency: Allowable Activities LAO 60 YEARS OF SERVICE 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 March 9, 2005 3 " One-Parent Family: A family is eligible for the one-parent com- ponent of the program if it includes a child who is financially needy due to the death, incapacity, or continued absence of one or both
https://lao.ca.gov/handouts/socservices/2005/CalWORKs_program_030905.pdf

^[PDF] HMOs and Rural California

In preparing this report, we obtained infor- mation from a variety of sources: ➢ We conducted interviews with repre- sentatives of a diverse set of key players in the rural health care com- munity, including beneficiaries, health operated health care systems, the California Medical Association, health policy researchers, state health care programs such as the Medi-Cal Program and
https://lao.ca.gov/2002/hmos_rural_ca/8-02_hmos_rural_ca.pdf

^[PDF] 100556.indd

However, because fee revenue contributes to overall community college support, the Legislature’s decisions about setting fee levels and appropriating Proposition 98 support through the budget act are interrelated.  As a practical matter, a fee increase can either supplement the colleges’ Proposition 98 appropriations (thus increasing total resources available to the colleges), or can supplant Proposi- tion 98 appropriations (thus creating savings in Proposition 98 spending).
https://lao.ca.gov/sections/Education/Ed-basics/How-Student-Fees-Contribute-CC-Funding-0710.pdf

^[PDF] San Diego County Regional Airport Authority: Assessing Governmental Accountability

Note: If the San Diego airport authority’s board were com- prised of seven members, it could pay each member about $70,000 annually without imposing greater costs than the authority currently pays for its nine-member board.
https://lao.ca.gov/handouts/localgov/2006/SD_Airport_Authority_111706.pdf

^[PDF] California Redistricting Commission Amendment, Amendment No. 2-S

The measure requires the Legislature to appropriate funds necessary for the com- mission to carry out its responsibilities, as well as compensation and expense reim- bursement for members of the commission.
https://lao.ca.gov/ballot/1999/991002_INT.pdf