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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

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

^[PDF] An LAO Higher Education “Compacts”: An Assessment

An LAO Higher Education “Compacts”: An Assessment Major Terms of Compact I and Proposed Compact II Funding Agreements Compact I 1995-96 through 1998-99 Compact IIa Proposed by CSU and UC 1999-00 through 2002-03 Minimum Support Budget Increase 1995-96 — 2 percent 1999-00 — 4 percent 1996-97 — 4 percent 2000-01 — 4 percent 1997-98 — 4 percent 2001-02 — 4 percent
https://lao.ca.gov/1999/082699_compacts/082699_compacts.pdf

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

LAO 2005 Budget Analysis: Health and Social Services Overview

Figure  2 shows Medi-Cal caseload trends over the last decade, divided into four groups: (1) families and children (primarily recipients of California Work Opportunity and Responsibil ity to Kids [CalWORKs]); (2) refugees and undocumented persons; (3) disabled beneficiaries; and (4) aged persons (who are primarily recipients of Supplemental Security In com e/State Supplementary Program [SSI/SSP]).
https://lao.ca.gov/analysis_2005/Health_ss/hss_01_ov_anl05.htm

^[PDF] California Spending Plan 1998-99

Major Features of the 1998-99 Budget Plan 53 Subsequent to the enactment of the budget, the Legislature appropriated $25 million to the Youth Authority in AB 2796 (Wright) for distribution to nonprofit organizations for acquiring, renovating, or constructing com- munity youth centers.
https://lao.ca.gov/1998/1098_spending_plan/1098_spending_plan.pdf

^[PDF] The 1989-90 Budget: Perspectives and Issues

RedirectProposition 99 Revenues to Pay State Costs (-$296million). The new cigarette and tobacco products sJlrtaximposed by Proposition 99 isexpeeted to support about$1QOmillion'worth of eXPElnditures .inthe budget year.
https://lao.ca.gov/analysis/1989/pandi_89_part1.pdf

^[PDF] Fiscal and Policy Options for the Every Woman Counts Program

Even though the overall revenues the state collects through Proposition 99 have been steadily declining, the EWC program nonetheless received Proposition 99 augmentations through 2007‑08 in amounts that were sufficient to fully fund program caseload.
https://lao.ca.gov/reports\2010\hlth\ewc\ewc_061410.pdf

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