The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - If the Legislature extended the MCO tax at similar levels, it would result in lower General Fund costs in the Medi‑Cal program by up to $2 billion annually beginning in 2023‑24. Medicaid Programs. As described in the box nearby, our outlook assumes the federal public health emergency declaration expires in January 2022, resulting in an increase in General Fund costs of state Medicaid programs beginning in the fourth quarter of 2021‑22.
https://lao.ca.gov/Publications/Report/4472

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Proposition  2 prevents the state from using a required debt repayment from supplanting funding that would otherwise be made available in the “fiscal year or the subsequent fiscal year. ” In this case, the 2023 ‑24 Proposition  2 payment cannot supplant the state ’s payments in 2023 ‑24 or 2024 ‑25.
https://lao.ca.gov/Publications/Report/4887

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 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - The spending plan includes a one-time appropriation of $54.6  million General Fund in 2022-23 for the department to (1)  reduce State Data Center IT service rates by shifting funding for some of its internal administrative expenditures and positions from cost recovery to General Fund and (2)  cover short-term net revenue losses in the department ’s cost recovery
https://lao.ca.gov/Publications/Report/4626

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 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Chapter  57 of 2023 (SB  145, Newman) includes provisions related to mitigating the environmental impacts of various types of transportation projects, including a high-speed rail project that has been proposed by a private firm, Brightline West, to be constructed between Southern California and Las Vegas, Nevada.
https://lao.ca.gov/Publications/Report/4814

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - Under our forecast, a fiscal emergency would be available both in 2023 ‑24 and 2024 ‑25. In the case of a fiscal budget emergency, the Legislature only can withdraw the lesser of: (1)  the amount of the budget emergency, or (2)  50  percent of the BSA balance (in each year).
https://lao.ca.gov/Publications/Report/4819

The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - While the fiscal impact of this reauthorization would be small in the budget window —an estimated $300  million in 2023 ‑ 24 —the effect would be much larger in future years, rising to roughly $2  billion in General Fund savings as early as 2024 ‑25.
https://lao.ca.gov/Publications/Report/4662

The 2022-23 Budget: Medi-Cal Fiscal Outlook

Nov 17, 2021 - However, legislative reauthorization of a similar MCO tax for a three ‑year period beginning in January 2023 could result in around $2 billion in annual General Fund savings relative to our projections in 2023 ‑24 and 2024 ‑25 and $1 billion in General Fund savings in 2025 ‑26.
https://lao.ca.gov/Publications/Report/4474