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 2017-18 Budget: California Highway Patrol

Feb 9, 2017 - The CHP proposes to use the design-build procurement method and award a co ntract in 2018 ‑19 at an estimated cost of $31.9  million —for a total project cost of $34.1  million $30.4  million to fund the design-build phase of the El Centro area office replacement.
https://lao.ca.gov/Publications/Report/3551

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 2016-17 Budget: Overview of the Governor's Budget

Jan 11, 2016 - Of these amounts, $2.6  billion and nine programs were administered or co –administered by community colleges. To comply with the requirements of these existing workforce programs, community colleges already participate in numerous local and regional consortia of education, business, labor, and civic groups.
https://lao.ca.gov/Publications/Report/3324

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Additionally, the budget package adds staff at both the California Film Co mmission Board and California Film Commission who will be focused on promoting diversity, equity, and inclusion in the film industry.
https://lao.ca.gov/Publications/Report/4814

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

Oct 2, 2018 - The Secretary of State will determine the maximum amount of state funding available to each county based on the size of the county, the number of voters registered in the co unty, and the Secretary of State ’s estimate of need for county voting equipment.
https://lao.ca.gov/Publications/Report/3870/12