The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Proposition   98 Spending Generally Declines During a Recession. Proposition  98 (198 8) g overns most state funding for schools and community colleges. The measure establishes formulas for a minimum annual funding requirement, commonly referred to as the minimum guarantee.
https://lao.ca.gov/Publications/Report/3769

The 2017-18 Budget: Governor's Gann Limit Proposal

Mar 2, 2017 - As revenues surged during the dot ‑com boom of the late 1990s, however, the state approached the limit. The state had excess revenues in 1999 ‑00, but because appropriations were under the limit in 2000 ‑01, additional Proposition  98 spending and taxpayer rebates were not required.
https://lao.ca.gov/Publications/Report/3596

Volatility of California’s Personal Income Tax Structure

Sep 28, 2017 - In contrast, filers below $150,000 a year claimed 75  percent of deductions for mortgage interest (the largest itemized deduction), 93  percent for medical expenses, and 98  percent of standard deductions.
https://lao.ca.gov/Publications/Report/3703

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

Jan 13, 2020 - The constitution also requires the state to make deposits into a Proposition   98 r eserve when a series of conditions are met. Under the administration ’s estimates, the balance of the Proposition   98 r eserve would reach $ 487  m illion at the end of 2020 ‑21.
https://lao.ca.gov/Publications/Report/4135

Managing California’s Cash

Sep 3, 2019 - After a period of relative calm in the mid ‑ and late ‑1990s, California faced another series of years with acute budget problems following the dot ‑com bust and ensuing recession. Although the dot ‑com bust was relatively mild in economic terms, it hit the California budget —which is particularly reliant on the Bay Area ’s technology sector —especially hard.
https://lao.ca.gov/Publications/Report/4092

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

Jan 14, 2019 - Though district pension costs typically are covered using Proposition  98 General Fund, the Governor proposes using non ‑Proposition  98 General Fund for this proposal. Whereas this proposal would provide districts with perceptible budget relief over the next two years, using the $ 700  m illion instead for paying down more of the CalSTRS unfunded liability would provide a longer ‑term benefit.
https://lao.ca.gov/Publications/Report/3916

California’s First Film Tax Credit Program

Sep 29, 2016 - Bottom Line: Billions in Net Added State Economic Output Film Tax Credit Likely Increased Economic Output. As we discussed above, we believe that the first film tax credit program increased spending on motion picture production by roughly $4.5  billion.
https://lao.ca.gov/Publications/Report/3502

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - Both of these figures are attributable to growth in revenue and the Proposition  98 formula that reserves a minimum percentage of that revenue (just under 40  percent) for school and community college programs.
https://lao.ca.gov/Publications/Report/4772

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

Mar 6, 2019 - The proposal also would modestly increase EITC benefits for an estimated 1. 2  m illion workers (about 60  p ercent of whom would have no dependents) who have relatively low income but are nonetheless above the poverty line.
https://lao.ca.gov/Publications/Report/3960