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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - It leads to higher administrative costs for the state as it is administering two financial aid programs that are serving much of the same population. Similarly, campuses must administer two programs and issue two different awards to many of the same students.
https://lao.ca.gov/Publications/Report/5127

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - The program is conceptually well structured and has recent empirical evidence supporting the idea that the credit is leading to a net increase in jobs in the state. Therefore, we recommend that the Legislature approve the Governor ’s proposal to extend the credit.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Family First Prevention Services State Block Grant $222.4 million one ‑time in 2021 ‑22, available through June 30, 2028. Complex Care Needs: $18.1 million ongoing beginning in 2021 ‑22. County Capacity Building $43.2 million one ‑time in 2021 ‑22, available through June 30, 2026.
https://lao.ca.gov/publications/report/5147

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

Mar 18, 2026 - Considering Adding Legislative Appointees to the SBE. The Legislature could consider adding two legislative appointees to the SBE. These appointees could enable greater legislative oversight of the new governance system and ensure the SBE ’s policies are consistent with legislative intent.
https://lao.ca.gov/Publications/Report/5165

The 2026-27 Budget: Department of Developmental Services

Mar 13, 2026 - The department stated that its budget projections for 2026 ‑27 do not incorporate any potential added costs due to the changes in H.R 1. Will the department be able to determine whether its costs increase in the future due to H.R. 1?
https://lao.ca.gov/Publications/Report/5157

The 2026-27 Budget: Governor’s Office of Land Use and Climate Innovation Proposals

Mar 19, 2026 - However, the office ’s statutory responsibilities have expanded over time, including a new focus on climate change and serving as the state ’s lead entity on CEQA issues. For example, the Legislature and Governor have tasked the office with additional responsibilities to develop statewide guidance on complying with CEQA and to review applications for projects seeking streamlined CEQA processes.
https://lao.ca.gov/Publications/Report/5167

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - While the Governor ’s budget describes the financial markets as a leading risk to the budget and assumes that stock market appreciation slows, it does not explicitly factor the risk of a market downturn into its revenue estimates.
https://lao.ca.gov/Publications/Report/5104

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

Feb 27, 2026 - What evidence is there showing that the transition to a statewide approach will solve the problems identified above or problems that lead OES to propose abandoning the regional approach? What Other Options Were Considered?
https://lao.ca.gov/Publications/Report/5145