The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - First, marrying Opportunity Zone benefits with affordable housing financing could complicate an already complex process which often involves multiple funding steams and complicated legal arrangements.
https://lao.ca.gov/Publications/Report/4038

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The 2017 ‑18 spending plan provides a total of about $40  million in lease revenue bonds, Veterans Homes bonds, and federal funds to renovate the steam distribution and chilled water system and upgrade the central power plant in the Yountville Veterans Home.
https://lao.ca.gov/Publications/Report/3694/12

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - At this point, stock prices are trading at a rich premium relative to corporate profits. Moreover, investors have been aggressive in taking on high levels of margin debt (borrowing to buy stocks), which has reached approximately three times the historical norm.
https://lao.ca.gov/Publications/Report/5104

Cap-and-Trade Extension: Issues for Legislative Oversight

Dec 12, 2017 - Price Ceiling. A predetermined allowance price level that is intended to moderate or prevent price spikes above that price level. There are two types of price ceilings: Soft Price Ceiling. A predetermined allowance price level intended to moderate, but not necessarily prevent, price spikes.
https://lao.ca.gov/Publications/Report/3719

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - Asset Prices. Some signs suggest that two important assets —stocks and homes in certain markets —are somewhat overvalued. The price of stocks is related, over the long term, to corporate earnings. Accordingly, price-to-earnings (PE) ratios are one key metric used to evaluate stock prices.
https://lao.ca.gov/Publications/Report/3829

The 2019-20 May Revision: LAO Economic Outlook

May 12, 2019 - After dipping significantly at the end of 2018, stock prices now have nearly rebounded to the historically high levels seen in the fall of 2018. Some signs suggest that stocks, at current prices, are somewhat overvalued.
https://lao.ca.gov/Publications/Report/4036

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - These factors weigh on the value of riskier assets, like home and stock prices. Historically, the reduction in spending by consumers and businesses resulting from higher interest rates is effective at easing the upward pressure on wages and prices.
https://lao.ca.gov/Publications/Report/4653

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Because this form of compensation is tied to the company ’s stock price, it rises when stock prices rise. Other forms of pay, such as bonuses to workers in the financial sector, also tend to rise when financial markets are doing well.
https://lao.ca.gov/Publications/Report/4939

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - This estimate assumed that the average price level for the S &P  500 stock index would remain relatively flat from late 2019 through the first half of 2020, with gradual price appreciation thereafter.
https://lao.ca.gov/Publications/Report/4203

The 2023-24 Budget: Considering Inflation's Effects on State Programs

Nov 16, 2022 - In some areas, the unpredictability of inflation —swings in the rate of growth of prices —can pose greater issues. If inflation is high, but stable, contractors and developers can plan for it and account for growth in prices in projections.
https://lao.ca.gov/Publications/Report/4647