The 2019-20 Budget: Analysis of Proposed Earned Income Tax Credit Expansion

Mar 6, 2019 - The administration proposes expanding the state EITC in three ways: ( 1)  p roviding an additional $ 500 c redit for all EITC ‑eligible workers that have at least one child under the age of six, ( 2)  i ncreasing the maximum qualifying income to $30,000, and ( 3)  i ncreasing the credit for individuals and families with earnings at the higher end of the eligibility range.
https://lao.ca.gov/Publications/Report/3960

The 2018-19 Budget: California Hiring Tax Credits

Mar 15, 2018 - Final, valid claims were $340, 822 i n 2014 ( 2  p ercent of the initial estimate) and $693, 323 i n 2015 ( 1  p ercent of the initial estimate). Over these first two tax years the credit was available, at least 1, 829 t axpayers claimed the credit but 83  p ercent of the claims were invalid.
https://lao.ca.gov/Publications/Report/3784

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - New state spending may ( 1)  d irectly increase state employment; ( 2)  i ncrease state purchases of goods and services from the private sector; and/or ( 3)  i ncrease private ‑sector employment, spending, and investment.
https://lao.ca.gov/Publications/Report/4331

Managing California’s Cash

Sep 3, 2019 - This means there are two key considerations for the Legislature in evaluating a future loan: ( 1)  i ts duration and ( 2)  t he timing of the next recession. Of course, no one can know when the next recession will occur.
https://lao.ca.gov/Publications/Report/4092

Evaluation of the Property Tax Postponement Program

Oct 8, 2018 - Suppose a homeowner was choosing between PTP and HECM to help pay for five years of property taxes on a house with a taxable value of $300, 000 —representing around $18, 000 i n property taxes. Under PTP, the homeowner would repay the total principal amount plus about $1, 200 i n interest costs.
https://lao.ca.gov/Publications/Report/3885

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - The Governor ’s budget includes $ 250  m illion General Fund in 2020 ‑ 21 —with a plan to allocate an additional $ 750  m illion in future years —to establish a new loan program at the California Infrastructure and Economic Development Bank (I ‑Bank).
https://lao.ca.gov/Publications/Report/4135

The 2019-20 Budget: California Spending Plan—Conformity

Oct 17, 2019 - Under prior law, this filer would have been allowed to deduct the entire $300,000 i n 2019. The administration estimates this change will increase CT revenue in 2019 ‑20 by $1.3  billion ($900  million ongoing).
https://lao.ca.gov/Publications/Report/4100

The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - Specifically, the Governor ’s target for 2019 ‑ 20 i s based on a narrower definition of family size (only CalWORKs ‑eligible family members are counted) than the target in the Legislature ’s plan —resulting in a smaller grant increase —and would take effect six months earlier than the Legislature ’s plan.
https://lao.ca.gov/Publications/Report/3916

The 2018-19 Budget: The Administration’s Proposition 55 Estimates

Mar 1, 2018 - The list of programs in Figure   4 i s short because DOF interprets currently authorized services very broadly. Specifically, the administration has: A Broad Interpretation of “Authorized Services. ” In some cases, the administration appears to be interpreting currently authorized services to mean any services of the general type that were in place on January  1, 2016, even if the specific service was not funded or available at that time.
https://lao.ca.gov/Publications/Report/3765

Building Reserves to Prepare for a Recession

Mar 7, 2018 - The Governor may call a budget emergency in two cases: ( 1)  i f estimated resources in the current or upcoming fiscal year are insufficient to keep spending at the level of the highest of the prior three budgets, adjusted for inflation and population (a “fiscal budget emergency ”) or ( 2)  i n response to a natural or man ‑made disaster.
https://lao.ca.gov/Publications/Report/3769