The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - However, our Fiscal Outlook revenue forecast, shown in Figure  2 , reflects a smaller, temporary upgrade which reverses beginning in 2026 ‑ 27 —resulting in 2026 ‑27 revenues being in line with budget act estimates.
https://lao.ca.gov/Publications/Report/5091

Long-term Capacity for Debt Payments Under Proposition 2

Dec 21, 2017 - Provisions of Proposition  2 Key Provisions of Proposition  2. Proposition  2 requires the state to make: (1) minimum annual payments toward certain eligible debts (until 2029 ‑30) and (2) deposits into the state ’s rainy day fund.
https://lao.ca.gov/Publications/Report/3727

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Proposition 2 Proposition   2 Contains Annual Debt Payment Requirement. Proposition  2 created new rules regarding: (1)  deposits into the state ’s rainy ‑day fund and (2)  accelerating payments toward certain eligible debts.
https://lao.ca.gov/Publications/Report/4887

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - The 2021-22 Budget: The Governor’s Proposition 2 Proposals The Governor ’s Proposition  2 Proposals Introduction Passed by voters in 2014, Proposition  2 changed budgeting practices concerning: (1)  reserves and (2)  debt payments.
https://lao.ca.gov/Publications/Report/4418

Evolution of the Balance of the Budget Stabilization Account

Nov 14, 2018 - Reserve Deposits Under Proposition  2 Proposition  2 Now Governs BSA Deposits. In November 2014, voters approved Proposition  2. In addition to other changes, Proposition  2 created a set of formulas that specified minimum annual amounts the state must deposit into the BSA and use to pay down certain debts.
https://lao.ca.gov/Publications/Report/3900

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 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - The 2020-21 Budget: Proposition 2 Debt Payment Proposals 2.0 4 Use Proposition   2 t o Keep the CalSTRS Funding Plan On Track. Proposition   2 p resents the Legislature with a unique opportunity to determine how best to use funds that it is required to spend.
https://lao.ca.gov/Publications/Report/4196

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Figure  2 shows the distribution of ongoing solutions in the May Revision by program area in 2028-29, which total $16.3  billion. Ongoing solutions in Medi-Cal reflect about two-thirds of the total. The largest service-related solutions in Medi-Cal include freezing enrollment for adults with unsatisfactory immigration status, charging monthly premiums for the same population, and reinstating the asset test for seniors and individuals with disabilities.
https://lao.ca.gov/Publications/Report/5052

The 2019-20 Budget: Proposition 98 Outlook

Nov 14, 2018 - For 2019 ‑20, Test   1 i s the operative test under our outlook. If revenue were to be lower than our estimate by any amount, Test  1 would remain operative and the guarantee would drop about 40 c ents for each dollar of lower revenue.
https://lao.ca.gov/Publications/Report/3897

Rethinking California's Reserve Policy

Apr 10, 2025 - That is, we aim to construct a reserve policy that has the best chance of withstanding the test of time and minimizes the need for the Legislature to ask voters to make further changes to the Constitution in a few years.
https://lao.ca.gov/Publications/Report/5028