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

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - File N o. 25-0033). Background AI and AI Companies. AI refers broadly to technologies that enable computer systems to perform tasks that typically require human intelligence, such as generating content, identifying patterns, or mak ing predictions from data.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

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

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - Across all MCS recipients, the average MCS award in 2024‑25 was $3,673—50 percent higher than in 2021‑22. In 2024‑25, the average MCS award for CSU students was 70 percent higher than it had been under the original program.
https://lao.ca.gov/Publications/Report/5127

The 2026-27 Budget: California Community Colleges

Mar 5, 2026 - The associated ongoing cost is built into apportionments in 2026 ‑27. c Related and supplemental instruction costs for apprenticeship programs in 2024 ‑25 and 2025 ‑26 are higher than budgeted. COLA = cost ‑of ‑living adjustment.
https://lao.ca.gov/Publications/Report/5150

The 2026-27 Budget: University of California

Feb 26, 2026 - For the last ten years, the UC employer contribution rate has increased gradually, from 14.6  percent of payroll in 2015 ‑16 to 16.71  percent in 2024 ‑25. As Figure  9 shows, annual program costs have steadily grown over this period, reaching more than $665  million in 2024 ‑25 (growing at an average annual rate of 5.2  percent over this period).
https://lao.ca.gov/Publications/Report/5143

The 2026-27 Budget: California State University

Feb 24, 2026 - Of the $879  million spent on financial aid in 2024 ‑25, 85  percent was for SUG. From 2019 ‑20 to 2024 ‑25, spending for institutional financial aid increased by $118  million (15  percent), largely as a result of tuition increases.
https://lao.ca.gov/Publications/Report/5142

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Minor Victims of Commercial Sexual Exploitation Pilot Projects $25 million one ‑time in 2022 ‑23, available through June 30, 2026. Bringing Families Home Augmentations $92.5 million one ‑time in 2021 ‑22 and again in 2022 ‑23, with $40 million shifted to 2025 ‑26 and $40 million shifted to 2026 ‑27 as part of 2024 ‑25 budget actions.
https://lao.ca.gov/publications/report/5147

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

Mar 3, 2026 - At the time of the 2025 May Revision, the administration had estimated that the Social Security Administration (SSA) had overcharged the state for SSI/SSP services and administration —resulting in increased General Fund costs of over $60  million in 2024-25.
https://lao.ca.gov/Publications/Report/5148