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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Throughout the mid-to-late 1990s, the stock market boomed over optimism around the Internet and dot-com start-ups. Strong tax revenue trends from this boom generated large budget surpluses that ultimately gave way to serious deficits once the bubble burst and PIT revenues declined nearly 30  percent.
https://lao.ca.gov/Publications/Report/5104

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

Jan 20, 2026 - Civil penalties on covered co mpanies may be assessed as a percentage of annual gross revenue, beginning at 5 percent for initial violations and increasing to as much as 100 percent for violations that remain u ncured over specified time periods.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

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

Over time, it is possible that this advisory board may mitigate some con- cerns associated with having the airport authority serve as the ALUC. Assessing the Airport Authority’s Accountability (Continued) 8L E G I S L A T I V E A N A L Y S T ’ S O F F I C E November 17, 2006 How Many Members Should Serve on the Governing Board?
https://lao.ca.gov/handouts/localgov/2006/SD_Airport_Authority_111706.pdf

^[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

Building Reserves to Prepare for a Recession

Mar 7, 2018 - The figure below shows revenue losses over the past three recessions —which have totaled in the tens of billions of dollars over multiyear periods. The Great Recession was the most severe. However, even the dot ‑com bust in the early 2000s, which in economic terms was more moderate, led to over $ 80  b illion in losses.
https://lao.ca.gov/Publications/Report/3769

^[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] UPDATE MAY 1997

The number of AFDC-linked Medi-Cal eligibles has declined by more than 3 percent over the last twelve months. This com- pares with a budget estimate of only about a 1 percent decline in the cur- rent year.
https://lao.ca.gov/1997/cal_update/may_97_calupdate.pdf

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