The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - LAO Recommendations on Governor ’s Proposals Consider Modified Version of NOL Suspension. To avoid the issues associated with creating an arbitrary income threshold to define medium and large businesses, the Legislature could consider a modified version of the proposal to suspend NOLs.
https://lao.ca.gov/Publications/Report/4238

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 - To help address the state budget shortfall, the budget package includes a reduction of $15  million in one-time General Fund that had been provided in a prior year for the Extreme Heat and Community Resilience Program.
https://lao.ca.gov/Publications/Report/5081/

Overview of Diversity Efforts in the Film Tax Credit Program

May 1, 2025 - Additionally, only version 3.0 projects that have been completed are included in the data, and may not represent the set of all projects that will be completed under version 3.0 of the credit. Evaluating Changes Made in Program 4.0 New Diversity Rules Provide a More Credible Incentive for Applicants.
https://lao.ca.gov/Publications/Report/5036

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Credits may be used to offset either personal income or corporation taxes and can be carried forward for up to six years. Over 1,200 credit agreements have been approved by GO-Biz since the program ’s inception.
https://lao.ca.gov/Publications/Report/5162

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

Feb 28, 2025 - Since the 2024 ‑25  budget package implemented similar restrictions, this trend will likely continue for the next few years. Mix of Productions Shifts Towards Television. Figure  7 shows the types of productions that were awarded tax credits.
https://lao.ca.gov/Publications/Report/5000

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The 2018-19 May Revision: LAO Economic Outlook The 2018-19 May Revision LAO Economic Outlook Our office just released a summary of our updated state fiscal outlook for the May Revision . Our fiscal outlook is premised on a set of economic assumptions.
https://lao.ca.gov/Publications/Report/3829

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - The 2018-19 May Revision: LAO Revenue Outlook The 2018-19 May Revision LAO Revenue Outlook This post details our General Fund revenue outlook for 2016-17 through 2021-22. Our estimates of General Fund revenues and transfers for the “budget window ” —2016-17 through 2018-19 —are $2.6 billion above the administration ’s May 2018 revenue forecast.
https://lao.ca.gov/Publications/Report/3830

The 2023-24 Budget: California's Film Tax Credit

Feb 28, 2023 - This shift may be due in part to actions taken in the 2020  budget package to limit taxpayers ’ use of business tax credits in 2020 and 2021. Limited Number of Taxpayers Benefit From the Credit. In tax years 2017 through 2019, 10  to  15  taxpayers annually used film tax credits to reduce their taxes.
https://lao.ca.gov/Publications/Report/4713

The 2025-26 Budget: Update on Implementation of New Firearm and Ammunition Tax

Feb 19, 2025 - Legislature May Want to Consider Adjusting Specified Amounts for Programs. Given that revenues are likely to be significantly lower than originally projected when Chapter  231 went through the policy process, the Legislature may want to consider adjusting the specific amounts designated for particular programs in Chapter  231 on an ongoing or one-time basis.
https://lao.ca.gov/Publications/Report/4970