The 2016-17 Budget: Department of General Services

Feb 22, 2016 - Governor ’s Proposal Shift GCP to DGS. The Governor ’s budget proposes to shift the GCP from VCGCB to DGS. As part of this shift, the budget transfers nine positions and $1.2  million in funding authority to DGS.
https://lao.ca.gov/Publications/Report/3362

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

California’s First Film Tax Credit Program

Sep 29, 2016 - In reality, there is always some slack in some parts of an economy and scarcity in many parts of an economy. The economic benefits of the new motion picture production spending are reduced to some extent by the opportunity cost of whatever economic activity was superseded.
https://lao.ca.gov/Publications/Report/3502

^[PDF] The 2012-13 Budget: Economic and Revenue Update

In reaching its decision to pursue low interest rate policies for a very long period, the Federal Reserve’s Federal Open Market Committee has made the judgment—shared by the vast majority of economists—that continuing “slack” in labor market and other economic conditions has reduced substantially the threat of increased inflation in the near future.
https://lao.ca.gov/analysis/2012/update/economic-revenue-update-022712.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

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - This is because the increased public spending may be less likely to displace private sector spending due to the amount of slack in the economy. For example, state projects are less likely to be competing with priv ate businesses for goods and services that are in limited supply.
https://lao.ca.gov/Publications/Report/4331

The 2012-13 Budget: Economic and Revenue Update

In reaching its decision to pursue low interest rate policies for a very long period, the Federal Reserve ’s Federal Open Market Committee has made the judgment —shared by the vast majority of economists —that continuing “slack ” in labor market and other economic conditions has reduced substantially the threat of increased inflation in the near future.
https://lao.ca.gov/analysis/2012/update/economic-revenue-update-022712.aspx

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