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

Mar 9, 2026 - This dynamic may be especially notable today. The current run-up in stock prices is similarly concentrated in Silicon Valley technology companies, raising the risk of an outsized revenue loss if that market corrects sharply.
https://lao.ca.gov/LAOEconTax/article/Detail/852

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

Mar 9, 2026 - This dynamic may be especially notable today. The current run-up in stock prices is similarly concentrated in Silicon Valley technology companies, raising the risk of an outsized revenue loss if that market corrects sharply.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

Preliminary information on August income tax collections

Sep 2, 2011 - Further Detail Despite today ’s   weak national employment report for the month of August, preliminary reports from California's tax agencies on personal and corporate income tax receipts for the month tell a “good news/bad news” story. 
https://lao.ca.gov/Recommendations/Details/457

The 2023-24 Budget: May Revenue Outlook [EconTax Blog]

May 13, 2023 - For example, our weak revenue forecast over the next couple years largely is based on the historical observation that when economic conditions are similar to today there is a strong chance of a slowdown in the near future.
https://lao.ca.gov/LAOEconTax/Article/Detail/774

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

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

LAO Analysis of the 2002-03 Budget: Education, Public Employees' Retirement System Deferral

Through a com plex series of calculations, this provision reduces each district's (or county office's) revenue limit payments to the extent that PERS contribution rates are less today than they were in the 1982-83 fiscal year.
https://lao.ca.gov/analysis_2002/education/ed_03_cc_PERS_anl02.htm

January Budget Proposal for 3 Positions at Public Utilities Commission to Support Procurement of Advanced Energy Storage (AES).

May 18, 2010 - The California Energy Commission (CEC) and the California Independent System Operator (CAISO) recognize that a great deal of research is still necessary in order to make AES a com mercially viable option which can be deployed in a cost-effective manner.
https://lao.ca.gov/Recommendations/Details/229

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

Perspectives on the CalSTRS funding scenarios discussed at the March 19, 2014 joint hearing.

Mar 19, 2014 - During the "dot-com " boom, sharp increases in investment returns made it appear that the system was overfunded, and various changes to system benefits and contributions began to be made. In 2000, the state 's contributions were lowered to their present basic  level in the law, 2.017 percent of prior-year teacher payroll.
https://lao.ca.gov/Recommendations/Details/800