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: Judicial Branch

Feb 11, 2026 - This leaves $95  million (24  percent) in reserves subject to the cap. This is less than the $106  million the trial courts could have retained under the current 3  percent cap. Background Judicial Branch Has Extensive Facility Needs.
https://lao.ca.gov/Publications/Report/5113

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: Bureau for Private Postsecondary Education

Mar 25, 2026 - Even with out repayment, that fund would have more than enough to cover its expenditures, with an estimated ending balance of $95  million (22 months of expenditures) in 2025-26. Proposal Would Not Address BPPE ’s Underlying Structural Deficit.
https://lao.ca.gov/Publications/Report/5169

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

Mar 3, 2026 - Similarly, the FMR for a one-bedroom unit has grown by 95  percent (compared to 42  percent growth for the maximum SSI/SSP grants for couples). As shown in Figure  6, FMR takes up a significant portion or exceeds recipient grants in all counties.
https://lao.ca.gov/Publications/Report/5148

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: University of California

Feb 26, 2026 - (Of this amount, UC has earmarked $95  million for its systemwide program that provides student financial aid.) In addition, UC intends to use $20  million from its investment earnings for its core operating costs in 2026 ‑27.
https://lao.ca.gov/Publications/Report/5143