The 2022-23 Budget: Temporary Limits on Business Tax Provisions

Jan 26, 2022 - This 2022-23 budget post provides background on temporary limits on the use of net operating loss deductions and business tax credits. It describes the Governor’s proposal to lift these limits one year early and provides some comments to the Legislature.
https://lao.ca.gov/Publications/Report/4500

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - We recommend that the Legislature adopt a modified version of this proposal and conside r whether new provisional language is needed to prevent such problems from recurring. Background Cannabis Tax Program.
https://lao.ca.gov/Publications/Report/5132

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - This change is estimated to reduce state r evenues by $135  million in fiscal year 2025-26 and $85  million annually thereafter. Excludes Wildfire Settlements From State Income Taxation. The budget package provides a blanket exemption for settlements related to any wildfire occurring between tax years 2021 and 2029.
https://lao.ca.gov/Publications/Report/5081/

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - The NSTC is a cooperative public-private effort to advance semiconductor research and development (R &D). Natcast is the nonprofit organization in charge of the NSTC. Natcast Currently Relies on Federal Funding.
https://lao.ca.gov/Publications/Report/5018

Assessing Recent Changes to California Competes

Mar 30, 2020 - In their October 2019 r eport to us, GO ‑Biz identified the following examples as reasons to disqualify applicants: The applicant ’s proposed expansion project primarily serves a local market. In our 2017 r eport, we referred to such companies as producing non ‑tradable goods and services.
https://lao.ca.gov/Publications/Report/4213

The 2018-19 Budget: The Administration’s Proposition 55 Estimates

Mar 1, 2018 - Proposition   55 r equires that funds allocated to Medi ‑Cal by the formula be used to increase funding for existing programs and services in Medi ‑Cal, not supplant existing General Fund support for the program.
https://lao.ca.gov/Publications/Report/3765

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - For example, the Legislature could supplement the Governor ’s $ 100  m illion by ( 1)  r olling over unused funds from the 2020 Main Street Credit and ( 2)  r edirecting $ 250  m illion from the Governor ’s California Competes grant proposal to this program.
https://lao.ca.gov/Publications/Report/4327

Building Reserves to Prepare for a Recession

Mar 7, 2018 - Passed by voters in 2004, Proposition   58 r equired the state to make an annual transfer into the BSA. These required deposits were to gradually increase from 1  p ercent of General Fund revenues in 2006 ‑ 07 t o 3  p ercent in 2008 ‑09 and every year thereafter.
https://lao.ca.gov/Publications/Report/3769

How High? Adjusting California’s Cannabis Taxes

Dec 17, 2019 - Additionally, suppose that this tax cut reduced 2019 r evenue, making it 25  p ercent lower than it would have been otherwise. This revenue loss would have offset just half of the year ‑over ‑year increase; 2019 r evenue still would have been 50  p ercent higher than 2018 r evenue.
https://lao.ca.gov/Publications/Report/4125

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