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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
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: In-Home Supportive Services

Mar 18, 2026 - Specifically, under the 2012 IHSS MOE, the state share of IHSS nonfederal costs increased from  65  percent in 2011 ‑12 ($1.7  billion) to roughly  76  percent in 2016 ‑17 ($3.5  billion). 2017 IHSS MOE.  
https://lao.ca.gov/Publications/Report/5166

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

Mar 3, 2026 - SSP Grants Were Increased in 2016-17, 2021-22, 2022-23, and 2023-24.  Since the Great Recession, as seen in Figure  2, grants for individuals and couples have been increased four times —in 2016-17 (by 2.76  percent), 2021-22 (by 23.95  percent), 2022-23 (by 10.3  percent), and 2023-24 (by 9.2  percent).
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Judicial Branch

Feb 11, 2026 - Of this amount, about $6.1  billion was associated with 17 projects in Los Angeles County. In April 2024, the Los Angeles Superior Court completed a reassessment of its facilities needs based on its operations.
https://lao.ca.gov/Publications/Report/5113

The 2026-27 Budget: Department of Justice

Feb 11, 2026 - This project would replace 17 existing firearm and ammunition databases and systems. Shift in BOF Costs to General Fund. To address an anticipated insolvency in the DROS Special Account, the budget proposes to shift $8  million annually through 2028-29 in BOF costs from the DROS Special Account to the General Fund.
https://lao.ca.gov/Publications/Report/5118

Artificial intelligence and child safety. [Ballot]

Jan 27, 2026 - Under this law, certain operating system providers and application stores must provide age-range signals —information indicating a user ’s general age category (for example, under 13, 13-17, or 18+) —that application developers can use to apply age-based requirements.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-036

The 2026-27 Budget: Community College Facilities

Mar 17, 2026 - Under the Governor ’s budget, the state would be committing nearly $1.3  billion (83  percent) of total Proposition  2 bond funding through 2026-27, leaving $249  million (17  percent) available for future years.
https://lao.ca.gov/Publications/Report/5159