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: Food Assistance Programs

Feb 18, 2026 - This state share is only imposed on states that have a payment error rate of 6  percent or higher. As shown in Figure  1, the amount of the state share depends on how much the state ’s error rate exceeds 6  percent.
https://lao.ca.gov/Publications/Report/5126

The 2026-27 Budget: Bureau for Private Postsecondary Education

Mar 25, 2026 - Most notably, in 2021-22, DCA issued a $12  million loan to the BPPE Fund from the Bureau of Automotive Repair ’s Vehicle Inspection and Repair Fund. (Control Section 14.00 of the annual budget act authorizes DCA to issue loans between the special funds it oversees.)
https://lao.ca.gov/Publications/Report/5169

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - On January 6, 2026, the federal administration announced that it would freeze $10  billion in grant funding going to five states due to concerns about improper use of federal funds. The freeze affected Temporary Assistance for Needy Families (TANF), CCDF, and the Social Services Block grant.
https://lao.ca.gov/Publications/Report/5168

The 2026-2027 Budget: California Cannabis Control Appeals Panel Permanent Funding Request

Feb 11, 2026 - ABCAB receives 20 to 35 appeals per year, in contrast to a projected 4 to 6 cases for CCAP. The 2026-27 proposed budget for ABCAB includes $1.4  million from Alcoholic Beverage Control Appeals Fund —which is about half the amount proposed for CCAP.
https://lao.ca.gov/Publications/Report/5119

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

Mar 3, 2026 - The SSI/SSP caseload grew at a rate of less than 1  percent each year between 2011-12 and 2014-15. Beginning in 2015-16, however, SSI/SSP caseload began to decline slowly at an average rate of 1.7  percent each year.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: K-12 Proposals

Feb 19, 2026 - As Figure  6 shows, the ELOP implementing legislation established two funding rates that account for TK ‑6 attendance and vary based on the proportion of a school district or charter school ’s students who are English learners or from low ‑income families (EL/LI).
https://lao.ca.gov/Publications/Report/5131