California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

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

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

The State Appropriations Limit

Apr 21, 2021 - The state ’s appropriations subject to the limit fell substantially during the dot ‑com bust in the early 2000s and again during the Great Recession due to the significant decline in state revenues during those downturns.
https://lao.ca.gov/Publications/Report/4416

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - As a condition of receiving the funding, counties must show that they are in com pliance with state and federal public health requirements. Budget Provides $600   Million for Project Homekey and Related Services.
https://lao.ca.gov/Publications/Report/4263

State Funding Actions Related to COVID-19

Apr 20, 2020 - Executive Order (EO) N-41 ‑20. In addition to the above actions, the Governor issued EO  N-41 ‑20 on April 1, 2020. Under the authority in Government Code Sections 8566, 8567, and 8645, the Governor indicated he could use emergency powers to transfer funds from other legally available state funds into DREOA in order to spend more on the COVID-19 response, as needed.
https://lao.ca.gov/Publications/Report/4223

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - Grant recipients must provide $ 1 i n local funds for every $ 2 r eceived through the grant. Grant recipients also must commit to provide program data and participate in an evaluation. Funds Annual Inspections of Licensed Child Care Providers.
https://lao.ca.gov/Publications/Report/3870/4

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - The CHP estimates future expenditures from the MVA of $4. 5  m illion in 2019 ‑20, $4. 9  m illion in 2020 ‑21, and $509, 000 i n 2021 ‑ 22 i n order to complete the replacement project. Vehicle Fleet Replacement.
https://lao.ca.gov/Publications/Report/3870/10

The 2019-20 Budget: California's Fiscal Outlook

Nov 14, 2018 - Under the current schedule, the minimum wage for most employees is scheduled to increase to $ 12 p er hour on January 1, 2019, to $ 13 i n January 2020, and to $ 14 i n January 2021. For the purposes of our recession scenario, we assume these minimum wage increases go into effect as scheduled.
https://lao.ca.gov/Publications/Report/3896