The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - For example, our November General Fund revenue estimates for 2026 ‑27 were about $20  billion lower than the administration ’s estimates for that year. A revenue decline of this magnitude would reduce the Proposition  98 guarantee by about $8  billion.
https://lao.ca.gov/Publications/Report/5110