How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - These payments will continue until the state has paid $12. 4  b illion —the amount of funding schools and community colleges could have received under Proposition   98 i f state revenues had continued to grow.
https://lao.ca.gov/Publications/Report/4263

The 2020-21 Spending Plan: Proposition 98 and K-12 Education

Oct 29, 2020 - The 2020-21 Spending Plan: Proposition 98 and K-12 Education Funds California Department of Education to allocate and monitor CARES Act funding. September 30, 2022 Total $6,436 a Of total amount, $4.4  billion must be spent by December 30, 2020.
https://lao.ca.gov/Publications/Report/4291

MOU Fiscal Analysis: Bargaining Unit 12 (Craft and Maintenance)

Jun 27, 2025 - The pay reduction and number of leave hours received during PLP 2020 varied by bargaining unit, depending on the specific terms of each agreement. Subsequent labor agreements ended PLP 2020. As of December 2024, Unit 12 members have 41,000 unused furlough or PLP leave hours in their leave balances.
https://lao.ca.gov/Publications/Report/5060

The 2021-22 Spending Plan: Proposition 98 and K-12 Education

Oct 25, 2021 - The June 2020 budget plan suspended much of this framework for 2020 ‑21. Most notably, it suspended the annual time requirement and allowed districts to meet the daily time requirement through classroom instruction, distance learning, or a combination of classroom instruction and distance learning.
https://lao.ca.gov/Publications/Report/4466

Home Price Update: October 2021 [EconTax Blog]

Nov 18, 2021 - Previous recessions have had disparate effects on home prices: they were largely unaffected by the collapse of the dot-com bubble in 2001, while in the late 2000s the collapse of the housing bubble was the single biggest factor that led to the financial crisis.
https://lao.ca.gov/LAOEconTax/Article/Detail/714

^[PDF] "School Choice Amendment"

Bill Lockyer 3 May 21, 1999 Minimum Funding Guarantee Under the provisions commonly known as Proposition 98, the State Constitution requires appropriation of a minimum annual amount for public K-12 schools and com- munity colleges (K-14 education) from the General Fund and local property tax reve- nues.
https://lao.ca.gov/ballot/1999/990287_INT.pdf

Update on School District Budgets

Nov 16, 2020 - The final budget package for 2020 ‑21, however, largely avoids K-12 education reductions by relying on $11  billion in K-12 education payment deferrals. The enacted budget also includes several provisions that provide fiscal relief to school districts.
https://lao.ca.gov/Publications/Report/4301

^[PDF] K-12 High Speed Network

LAO 60 YEARS OF SERVICE 3L E G I S L A T I V E A N A L Y S T ’ S O F F I C E April 18, 2005 LAO Recommendation Suspend project pending results of an audit and a design and use study ($21 million in Proposition 98 General Fund savings). • Submit an audit request to the Joint Legislative Audit Com- mittee (JLAC) to determine: (1) project monies that remain available and potentially
https://lao.ca.gov/handouts/education/2005/High_Speed_Network_041805.pdf