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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

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

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: California State University

Feb 24, 2026 - The total marginal cost (state and student shares combined) of increasing resident undergraduate enrollment by 1  percent in 2026 ‑27 is $58  million. Provide more funding for student financial aid. Specifically, CSU plans to designate $67  million for this purpose.
https://lao.ca.gov/Publications/Report/5142

The 2026-27 Budget: Judicial Branch

Feb 11, 2026 - The judicial branch currently manages around 430 facilities across all 58 counties. Its facility program is responsible for various activities including maintaining these facilities, managing leases, and constructing new courthouses to replace outdated facilities.
https://lao.ca.gov/Publications/Report/5113

The 2026-27 Budget: Governor’s Sustainable Aviation Fuel Tax Credit Proposal

Feb 24, 2026 - Additionally, the administration projects the credit could grow over time, potentially reaching about $300  million annually —nearly doubling the reductions and corresponding fiscal and programmatic impacts.
https://lao.ca.gov/Publications/Report/5139

The 2026-27 Budget: Re-Envisioning State Education Governance

Mar 18, 2026 - Introduction California operates the nation ’s largest public school system, comprising 937 school districts, 1,257 charter schools, and 58 county offices of education. This year, these local agencies will educate nearly 5.8  million students, employ around 700,000 teachers and staff, and spend nearly $150  billion.
https://lao.ca.gov/Publications/Report/5165

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - The administration estimates that implementing the Tiered Rate Structure will cost more than $300  million General Fund in 2027-28, $500  million in 2028-29, and $700  million General Fund in 2029-30 (with some potential growth thereafter and ongoing).
https://lao.ca.gov/publications/report/5147

The 2026-27 Budget: Supplemental Security Income/State Supplementary Payment (SSI/SSP) Program

Mar 3, 2026 - Statute required the Department of Finance to estimate what percentage grant increase could be supported by a half-year cost of $291  million in 2021-22 (estimated to be about $580  million in 2022-23), a half-year cost of $150  million in 2022-23 (estimated to be about $300  million in 2023-24), and a half-year cost of $146  million in 2023-24 (estimated to be about $292  million in 2024-25).
https://lao.ca.gov/Publications/Report/5148