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 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

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

The 2011-12 Budget: The Administration's Revenue Accrual Approach [Publication Details]

Jan 31, 2011 - In the administration's budget figures, this approach increases revenues available for the 2011-12 budget process by over $700 million and decreases the 2011-12 minimum funding guarantee for schools and community colleges by $1.5 billion below what it would have been otherwise.
https://lao.ca.gov/Publications/Detail/2420

The 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - The CFC has issued over $3  billion in credits to around 700 projects since its inception in 2009. In recent years, the commission has averaged approximately $272  million of credits awarded to 38 separate projects per year.
https://lao.ca.gov/Publications/Report/5000

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943

Evaluation of a Tax Exemption for Zero-Emission Buses

Apr 15, 2024 - At current revenue levels, ongoing TIRCP funding is around $650  million to $700  million per year. Recent budget agreements provided significant one-time General Fund augmentations for the program. First, the program received an additional $4  billion to provide through its traditional competitive process.
https://lao.ca.gov/Publications/Report/4890

The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - Although over the long term the districts ’ CalSTRS rate would be only slightly lower than it would be otherwise, the value of a making a $ 700  m illion unfunded liability payment now would grow over time.
https://lao.ca.gov/Publications/Report/3916

The 2017-18 Budget: Governor's Gann Limit Proposal

Mar 2, 2017 - As revenues surged during the dot ‑com boom of the late 1990s, however, the state approached the limit. The state had excess revenues in 1999 ‑00, but because appropriations were under the limit in 2000 ‑01, additional Proposition  98 spending and taxpayer rebates were not required.
https://lao.ca.gov/Publications/Report/3596

Long-term Capacity for Debt Payments Under Proposition 2

Dec 21, 2017 - Paying off transportation-related special fund loans will reach nearly $700  million in 2019 ‑20, but under current law should be fully repaid before 2021 ‑22. Repaying the CalPERS borrowing plan by the mid-2020s, costs which are flexible but would require payments on average of at least a few hundred million dollars each year.
https://lao.ca.gov/Publications/Report/3727