Long-term Capacity for Debt Payments Under Proposition 2

Dec 21, 2017 - Provisions of Proposition  2 Key Provisions of Proposition  2. Proposition  2 requires the state to make: (1) minimum annual payments toward certain eligible debts (until 2029 ‑30) and (2) deposits into the state ’s rainy day fund.
https://lao.ca.gov/Publications/Report/3727

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - CalSTRS ’ 12 ‑member Teachers ’ Retirement Board (CalSTRS Board) administers the fund and is constitutionally responsible for overseeing the system ’s investment policies and ensuring that benefit payments are made on time and according to law.
https://lao.ca.gov/Publications/Report/4887

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

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - The 2021-22 Budget: The Governor’s Proposition 2 Proposals The Governor ’s Proposition  2 Proposals Introduction Passed by voters in 2014, Proposition  2 changed budgeting practices concerning: (1)  reserves and (2)  debt payments.
https://lao.ca.gov/Publications/Report/4418

Evolution of the Balance of the Budget Stabilization Account

Nov 14, 2018 - Reserve Deposits Under Proposition  2 Proposition  2 Now Governs BSA Deposits. In November 2014, voters approved Proposition  2. In addition to other changes, Proposition  2 created a set of formulas that specified minimum annual amounts the state must deposit into the BSA and use to pay down certain debts.
https://lao.ca.gov/Publications/Report/3900

The 2020-21 Budget: Proposition 2 Debt Payment Proposals

Mar 10, 2020 - The 2020-21 Budget: Proposition 2 Debt Payment Proposals 2.0 4 Use Proposition   2 t o Keep the CalSTRS Funding Plan On Track. Proposition   2 p resents the Legislature with a unique opportunity to determine how best to use funds that it is required to spend.
https://lao.ca.gov/Publications/Report/4196

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 2022-23 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 17, 2021 - Specifically, we (1) analyze the amount of new funding available for school and community college programs, (2) describe a few notable issues affecting district budgets, and (3) comment on the options for allocating the available one ‑time and ongoing funding.
https://lao.ca.gov/Publications/Report/4473

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - However, our Fiscal Outlook revenue forecast, shown in Figure  2 , reflects a smaller, temporary upgrade which reverses beginning in 2026 ‑ 27 —resulting in 2026 ‑27 revenues being in line with budget act estimates.
https://lao.ca.gov/Publications/Report/5091

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - Figure 2 LAO May 2018 Economic Growth Scenario a Percent Change Unless Otherwise Indicated 2017
https://lao.ca.gov/Publications/Report/3829