The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - As shown in Figure  1 , many signs of an overly exuberant stock market are present today: measures of whether stocks are “expensive ” are at historically high levels, investors are borrowing more to buy stocks, and households are more invested in the stock market than they have been in at least 70  years.
https://lao.ca.gov/Publications/Report/5091

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

Mar 9, 2026 - This dynamic may be especially notable today. The current run-up in stock prices is similarly concentrated in Silicon Valley technology companies, raising the risk of an outsized revenue loss if that market corrects sharply.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - This dynamic may be especially notable today. The current run-up in stock prices is similarly concentrated in Silicon Valley technology companies, raising the risk of an outsized revenue loss if that market corrects sharply.
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

2003 Initiative Analysis: The Gaming Revenue Act of 2004

Those tribes that enter a tribal-state compact may operate sl ot machines (up to 2,000 each) and engage in banked card games, such as twenty-one. Currently, 61 tribes have tribal-state gaming compacts and operate 50 casinos with 54,000 slot m achines.
https://lao.ca.gov/ballot/2003/031060.htm

The 2025-26 California Spending Plan: Housing, Homelessness and Local Government

Oct 22, 2025 - The budget provides $2.4  million one-time General Fund for the Civil Right Department ’s California vs. Hate initiative. California vs. Hate is a non-emergency hotline and online portal that allows state residents to report hate crimes and hate incidents.
https://lao.ca.gov/Publications/Report/5082

^[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] 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

Narrowing California’s K-12 Student Achievement Gaps

Jan 31, 2020 - Other Achievement Gaps Several Other Student Groups Also Have Relatively Low Test Scores. In spring 2018, average standardized test scores of low ‑income students were at the 39th percentile of all test takers.
https://lao.ca.gov/Publications/Report/4144

^[PDF] State Equal Employment Opportunity Programs After GRP-1

Today, employees can still fi le discrimination complaints with their own departments or with DFEH, but they can no longer fi le most types of discrimination complaints with SPB. However, employees can still fi le disability-related discrimination complaints with SPB.  Policy Guidance (CalHR) vs.
https://lao.ca.gov/handouts/state_admin/2014/After-GRP-1-070214.pdf