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: Supplemental Security Income/State Supplementary Payment (SSI/SSP) Program

Mar 3, 2026 - As shown in Figure  5, from 2013-14 through 2020-21, the maximum combined SSI/SSP monthly grant amount for individuals (the bulk of the SSI/SSP caseload) and couples had increased on average by 1.2  percent annually —predominantly due to the provision of federal SSI COLAs.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Office of Emergency Services Next Generation 911 System

Feb 27, 2026 - This roadmap projected that the system would be completed around 2015. 2013 to 2018 —Project Moves to OES and Design Validated. Responsibility for public safety communications (including the 911  system) was subsequently transferred to OES in 2013 through budget action during the Brown administration.
https://lao.ca.gov/Publications/Report/5145

The 2026-27 Budget: California State University

Feb 24, 2026 - The state pays costs for the employer contribution associated with CSU’s 2013‑14 payroll level. CSU pays the employer contribution for any payroll growth above that level. The state adopted this arrangement in 2013‑14 to provide CSU with a stronger fiscal incentive to contain staffing costs.
https://lao.ca.gov/Publications/Report/5142

The 2026-27 Budget: In-Home Supportive Services

Mar 18, 2026 - As seen in Figure  3 , IHSS caseload has grown significantly since 2013. Despite slower caseload growth between 2016 ‑17 and 2020 ‑21 (the caseload continued to grow during this period, just at a slower than usual rate).
https://lao.ca.gov/Publications/Report/5166

The 2026-27 Budget: University of California

Feb 26, 2026 - It  carries debt mostly from former state general obligation bonds and, beginning in 2013 ‑14, from university bonds. In 2013 ‑14, the state initiated a new policy intended to provide UC with greater ability to manage its facilities, more predictability in facility financing, and more incentive to contain costs.
https://lao.ca.gov/Publications/Report/5143

The 2026-27 Budget: County Administration and H.R. 1 Implementation

Mar 5, 2026 - In 2013, the Legislature enacted statute requiring DHCS to develop a new methodology for budgeting Medi ‑Cal administrative costs that would take into account significant changes in eligibility processes and much higher enrollment related to implementing the ACA in 2014.
https://lao.ca.gov/Publications/Report/5149