The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Governor Has a $6   Billion Surplus to Allocate. We estimate the Governor had a $6  b illion surplus to allocate in the 2020 ‑ 21 b udget process. (The box below gives more information on how we use the term “surplus ” in the Overview of the Governor ’s Budget .)
https://lao.ca.gov/Publications/Report/4135

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

Managing California’s Cash

Sep 3, 2019 - Under the plan, the Controller has transferred $ 6  b illion from the PMIA to CalPERS, which CalPERS has invested to help pay down its unfunded liability, earning an expected return of 7  p ercent per year.
https://lao.ca.gov/Publications/Report/4092

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

Jan 14, 2019 - The Governor ’s budget includes an increase of $ 540   m illion ongoing General Fund for the universities —$ 300   m illion (7. 6   p ercent) for CSU and $ 240   m illion (6. 9   p ercent) for UC. Whereas the previous Governor favored giving the universities unrestricted increases and allowing them to determine funding priorities, the new administration takes a different approach by itemizing proposed funding increases.
https://lao.ca.gov/Publications/Report/3916

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

The 2020-21 Spending Plan: Tax Changes

Oct 5, 2020 - (Budget-related legislation enacted in June expanded the EITC and YCTC to ITIN filers with children under 6, but additional legislation in August broadened this expansion to all ITIN filers.) This expansion is assumed to reduce revenues by $125  million in 2020 ‑21.
https://lao.ca.gov/Publications/Report/4270

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - State Employee Compensation Legislature Ratified New Agreements With All 21 Bargaining Units. Chapter 5 of 2025 (AB 102, Gabriel) amended the budget to include Control Section 3.90, which established an expectation that the administration would meet and confer in good faith with all 21 of the state’s bargaining units before July 1, 2025 to achieve budgetary savings.
https://lao.ca.gov/Publications/Report/5081/

The 2017-18 Budget: The Board of Equalization

Mar 7, 2017 - Based on data provided by BOE, we estimate that the loaned resources totaled 7 personnel-years (PYs) in 2015-16. Loan Durations and Functions Vary. In our view, the practice of loaning staff is most reasonable when the loans last for a very short period —a few weeks or perhaps a few months.
https://lao.ca.gov/Publications/Report/3609

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

Feb 19, 2025 - These funds would be allocated to school districts based on their share of statewide enrollment in grades 7 to 12. The budget package also required school districts to certify by July 2029 that a certain portion of their staff who work directly with students in grades 7 to 12 have received youth behavioral health training at least once.
https://lao.ca.gov/Publications/Report/4970

The 2020-21 Budget: Expanding the Minimum Franchise Tax Exemption

Mar 23, 2020 - This likely understates the cost in 2020 ‑21. FTB estimates the proposal will cost up to $ 110  m illion in 2020 ‑21. Out ‑Year Cost May Be More or Less Than $100   Million Per Year. The DOF has assumed the proposal would cost $ 100  m illion annually in the out ‑years.
https://lao.ca.gov/Publications/Report/4207