The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - The June 2021 budget plan sets forth a schedule to expand this program to all four ‑year olds over a four ‑year period, beginning in 2022 ‑23. The Legislature and Governor also agreed to adjust the guarantee to cover the associated costs.
https://lao.ca.gov/Publications/Report/4472

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

People 21 years of age and older in California, who are not on tribal lands, would be able to place bets no later than September 2023. „ Allows bets on athletic events (such as football games) and some non-athletic events (such as awards shows and video game competitions).
https://lao.ca.gov/handouts/crimjust/2022/Prop-27-081022.pdf

An Update on California Competes [EconTax Blog]

Mar 10, 2023 - One potential interpretation is that the state is making high risk-high reward bets on businesses. While many of these bets do not pan out, the ones that do can be successful enough to yield overall benefits for the state.
https://lao.ca.gov/LAOEconTax/Article/Detail/771

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The state solved a $27  billion deficit in 2023 ‑24, a $55  billion deficit in 2024 ‑25, and a $15  billion deficit in 2025 ‑26 (in addition to roughly $28  billion in proactive budget ‑balancing actions taken the year before).
https://lao.ca.gov/Publications/Report/5091

Online sports wagering. [Ballot]

Oct 20, 2021 - Assuming this measure appears on the November 2022 ballot and is approved b y voters, this authorization would begin January 1, 2023, with wagering becoming publicly available no later than the end of August 2023.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-017

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

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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

^[PDF] Overview of Gambling in California

Approximately 35 tribes have compacts that were negotiated in 1999 that are scheduled to expire on December 31, 2020. Authorization of Sports Betting. The Federal Professional and Amateur Sports Protection Act (PAPSA) of 1992 was previously interpreted to prohibit most state and local governments from authorizing wagering on nearly all sports.
https://lao.ca.gov/handouts/crimjust/2019/Gambling-Overview-022619.pdf

Tribal gaming. [Ballot]

Dec 27, 2021 - This measure amends the Constitution to authorize Indian tribes to offer online sports wagering beginning September 1, 2023. The measure permits only individuals 21 years of age o r older to make sports wagers and requires individuals register for player accounts in-person at a tribal gaming facility.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-039