The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - In the past, these patterns have been a sign that a stock market downturn will occur in the next couple of years. There certainly is some chance that this time is different and such a downturn is not forthcoming.
https://lao.ca.gov/Publications/Report/5091

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Enhanced Federal Match for Home ‑ and Community ‑Based Services (HCBS). The ARP also included a temporary enhanced federal match rate for HCBS funded through the Medicaid program, which reduces the state ’s share of base program costs for these services by $3 billion.
https://lao.ca.gov/Publications/Report/4472

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

Feb 24, 2016 - Over the next four fiscal years, the administration would continue to focus on low–interest debts, principally special fund loans and Proposition  98 settle up. Over the period, 83  percent of Proposition  2 debt payments would be directed to low–interest debt.
https://lao.ca.gov/Publications/Report/3363

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - Full compliance is expected to be completed over the next six years. AB  60 Ongoing Workload. Chapter  524 of 2013 (AB  60, Alejo) requires the DMV to accept driver license applications from persons who are unable to submit satisfactory proof of legal presence in the U.S., provided they meet all other application requirements and provide proof of identity and California residency.
https://lao.ca.gov/Publications/Report/3694/10

An Extraordinary Moment in California's Fiscal History

Apr 11, 2019 - Because the MCO tax package leverages federal Medicaid matching funds, the Governor ’s nonproposal in this area has the effect of leaving money on the table. Therefore, we think the Legislature should strongly consider extending the MCO tax package even in the absence of a proposal to do so from the Governor.
https://lao.ca.gov/Publications/Report/4003

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - Although caseloads under the Governor’s budget are higher than anticipated in June, economic conditions likely do not yet match what the Legislature envisioned when it created the reserve. Moreover, the administration proposes ongoing reductions to CalWORKs despite withdrawing these reserves.
https://lao.ca.gov/Publications/Report/4825

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - As designed, state funding for the program decreases over the three ‑year period, as local match requirements increase. In 2015 ‑16 and 2016 ‑17, the state provided $400  million and $300  million, respectively, for the program.
https://lao.ca.gov/Publications/Report/3694/3

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Given the strong possibility of an equity market downturn over the next year, the risk of repeating a painful experience looms. This historical context argues for incorporating revenue risk up-front and adjusting the budget accordingly.
https://lao.ca.gov/Publications/Report/5104

The 2022-23 Budget: State Appropriations Limit Implications

Mar 30, 2022 - Specifically, we modeled these variables (with transformations applied in some cases) using a multivariate normal distribution, with standard deviations and covariances set to match historical levels over the last 40 years.
https://lao.ca.gov/Publications/Report/4583