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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market 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: 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: Judicial Branch

Feb 11, 2026 - The judicial branch currently manages around 430 facilities across all 58 counties. Its facility program is responsible for various activities including maintaining these facilities, managing leases, and constructing new courthouses to replace outdated facilities.
https://lao.ca.gov/Publications/Report/5113

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - In 2024‑25, the average MCS award for CSU students was 70 percent higher than it had been under the original program. By comparison, the average MCS award for UC students was slightly lower than under the original program.
https://lao.ca.gov/Publications/Report/5127

The 2026-27 Budget: Department of Justice

Feb 11, 2026 - However, beginning in 2022-23, expenditures began outpacing revenues, shrinking the fund balance. The Governor ’s budget estimates that the DROS Special Account will be insolvent in 2026-27 if no action is taken.
https://lao.ca.gov/Publications/Report/5118

The 2026-27 Budget: Streamlining California’s Affordable Housing Funding System

Mar 6, 2026 - The Governor ’s proposal to provide 70   percent of total AHSC funds for affordable housing (and 30   percent for the transportation aspect) is based on the historical split. This split, in turn, is based on SGC ’s practice of awarding up to $35   million per project (70   percent) for affordable housing and up to $15   million (30   percent) for transportation.
https://lao.ca.gov/Publications/Report/5154

The 2026-27 Budget: California Community Colleges

Mar 5, 2026 - For example, the state i ncreased funding for the Student Equity and Achievement Program by $24  million (5  percent) in 2021 ‑22 and another $25  million (5  percent) in 2022 ‑23. Figure 5 Certain Categorical Programs Have Received a COLA in Recent Years 2019 ‑20
https://lao.ca.gov/Publications/Report/5150