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

Mar 9, 2026 - Focus Here on Major Downturns Because Short-Lived Corrections Usually Have Little Impact on Revenues. Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Focus Here on Major Downturns Because Short-Lived Corrections Usually Have Little Impact on Revenues. Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/article/Detail/852

Proposed constitutional initiative related to gaming activities. [Ballot]

Aug 1, 2018 - Banking games generally involve players betting against the “house, ” who is a participant in the game with an interest in its outcome, and percentage games generally involve the house receiving a percentage of the money involved in the game.
https://lao.ca.gov/BallotAnalysis/Initiative/2018-003

^[PDF] Proposition 27: Allows Online and Mobile Sports Wagering Outside Tribal Lands. Initiative Constitutional Amendment and Statute.

The increase would depend mostly on how sports betting is regulated—such as the number of sports betting licenses approved, the type and number of betting options and events offered, and how much state enforcement is done.
https://lao.ca.gov/handouts/crimjust/2022/Prop-27-081022.pdf

^[PDF] Public Assistance in California: Facts and Figures

Sa"". Sarre. Sarre. Sarre. Sa"". Sarre. Pers,,".l hcrre ex61l>t. * Pl"O\>orty 1. Hruse- Ext.* Sarre. Sa"". Sarre. . Sarre. Sarre • Sarre. S?ne. Sarre. Sdrre. hold/ Pp.)"Sonal filCds and Effects I 2.
https://lao.ca.gov/reports/1984/09_public_assistance_in_california_facts_and_figures.pdf

"The Gaming Control Act of 1998"

SA  98  RF 0007). The measure amends the California Constitution, the Business and Professions Code, and the Penal Code to authorize certain types of casino-style gambling and wagering. A s Section  9005 directs, our review addresses the potential effects of the measure on state and local government revenues and costs.
https://lao.ca.gov/ballot/1998/980074_INT.html

"The Gaming Control Act"

SA  98  RF 0008). The measure amends the California Constitution, the Business and Professions Code, and the Penal Code to authorize certain types of casino-style gambling and wagering. A s Section  9005 directs, our review addresses the potential effects of the measure on state and local government revenues and costs.
https://lao.ca.gov/ballot/1998/980075_INT.html

^[PDF] Proposition 26: Allows In-Person Roulette, Dice Games, Sports Wagering on Tribal Lands. Initiative Constitutional Amendment and Statute.

Increased State Regulatory Costs „ Increased state costs for state agencies (such as DOJ) to regulate in-person sports betting, possibly reaching the low tens of millions of dollars annually. These costs would depend mostly on how sports betting is regulated, such as what types of bets are not allowed. „ Some or all of these costs would be offset by CSWF revenues and tribal payments to the state that do not go into the CSWF.
https://lao.ca.gov/handouts/crimjust/2022/Proposition-26-081022.pdf

^[PDF] The Gaming Control Act of 1998

SA 98 RF 0007). The measure amends the California Constitution, the Business and Professions Code, and the Penal Code to authorize certain types of casino-style gambling and wagering. As Section 9005 directs, our review addresses the potential effects of the measure on state and local government revenues and costs.
https://lao.ca.gov/ballot/1998/980074_INT.pdf

^[PDF] The Gaming Control Act

SA 98 RF 0008). The measure amends the California Constitution, the Business and Professions Code, and the Penal Code to authorize certain types of casino-style gambling and wagering. As Section 9005 directs, our review addresses the potential effects of the measure on state and local government revenues and costs.
https://lao.ca.gov/ballot/1998/980075_INT.pdf