The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - The 2024-25 Budget: Overview of the Governor's Budget $3,135 $4,677 BCH = Secretary for Business, Consumer Services, and Housing Agency; HHAPP = Homeless Housing, Assistance, and Prevention Program; FHC = Family Homelessness Challenge Grants; BSCC  =  Board of State and Community Corrections; CalFire = California Department of Forestry and Fire Protection; CalRecycle = California Department of
https://lao.ca.gov/Publications/Report/4825/1

A Framework for Allocating Federal Recovery Funds [Publication Details]

May 4, 2021 - In this post, we lay out some guiding principles for the Legislature to consider as it formulates a plan for using the fiscal recovery funds. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/4422

A Framework for Allocating Federal Recovery Funds

May 4, 2021 - A strategic approach similarly applies to our other guiding principles —identify gaps and maximize longer-term benefits —which are less process-oriented and more substantive policy-related suggestions.
https://lao.ca.gov/Publications/Report/4422

Flexible Funding to California in the American Rescue Plan

Mar 23, 2021 - We will know more once the guid ance is released. When Will We Know More? The ARP sets a statutory deadline of 60 days for the funds to be distributed to state and local governments. As such, we expect Treasury to release guidance in the coming weeks.
https://lao.ca.gov/Publications/Report/4407

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - As wages and salaries make up about two-thirds of income (as seen in the tax guide on page 6 ), this growth is a key driver of our outlook for the PIT. Capital Gains Spike in 2017-18 and 2018-19. Preliminary Franchise Tax Board data show that net capital gains in 2016 totaled $110 billion.
https://lao.ca.gov/Publications/Report/3830

Tempered Expectations

Dec 9, 2019 - If history is a guide, however, California could again suffer a proportionately sharper downturn when the national economy next goes into a recession. Moreover, certain policy changes in recent years likely exacerbate the state ’s propensity for fiscal volatility.
https://lao.ca.gov/Publications/Report/4122

With New Deficits Looming, California Will Weigh its Options for Allocating a Large Revenue Windfall

Dec 1, 2020 - Three observations in particular guided development of our recommendations. First, the revenue windfall is a one-time occurrence. Whereas the 2020 ‑21 budget was built on the assumption of a widely anticipated plunge in revenues, actual tax collections largely have continued apace.
https://lao.ca.gov/Publications/Report/4305

Taking Stock of California’s Recession Readiness

Feb 12, 2020 - Legislature ’s Risk Tolerance Is Ultimate Guide When Setting Operating Surplus Target What lessons are there to take away from our various scenario analyses? One is that there is a dynamic quality to the state ’s fiscal resilience.
https://lao.ca.gov/Publications/Report/4156

Cal Facts 2018 [Publication Details]

Dec 6, 2018 - With a state as big, as populous, and as complex as California, quickly summarizing how its economy or state budget works is impossible. Instead, Cal Facts is a visual guide—using a variety of different charts—to the state's economy, revenues, and major program trends.
https://lao.ca.gov/Publications/Detail/3905

Cap-and-Trade Extension: Issues for Legislative Oversight

Dec 12, 2017 - We find that this approach would also more clearly focus the committee ’s role as advisory, while using its expertise in guiding effective evaluation practices. Different Roles Could Require Different Levels of Resources.
https://lao.ca.gov/Publications/Report/3719