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

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Some questions could include: If the Legislature does not make an appropriation to implement the Tiered Rate Structure beginning in 2027-28, the current, interim LOC rate structure for foster care maintenance payments would remain in place.
https://lao.ca.gov/publications/report/5147

The 2026-27 Budget: Higher Education Overview

Feb 5, 2026 - Recommend Holding Enrollment Flat at Universities in 2027 ‑28. Given the sizeable projected deficit in 2027 ‑28, we recommend holding enrollment expectations flat for UC and CSU that year. Setting higher enrollment targets for the segments without providing them funding comes with downsides.
https://lao.ca.gov/Publications/Report/5112

The 2026-27 Budget: California State University

Feb 24, 2026 - We recommend removing the state ’s out ‑year funding commitments to CSU in 2027 ‑28 and 2028 ‑29. Eliminating these out ‑year augmentations would reduce projected state deficits in 2027 ‑28 and 2028 ‑29 without requiring programmatic cuts or tax increases.
https://lao.ca.gov/Publications/Report/5142

Overview of Proposition 28 Arts Funding for Schools [Publication Details]

Feb 12, 2026 - Overview of Proposition 28 Arts Funding for Schools [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5109

Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog]

Feb 18, 2026 - Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog] Firearms and Ammunition Revenue Update (2025 Q4) February 18, 2026 Seth Kerstein Beginning July 2024, Chapter 231 of 2023 (AB 28, Gabriel) imposed an 11 percent excise tax on retail sales of firearms, firearm precursor parts, and ammunition, with some exemptions.
https://lao.ca.gov/LAOEconTax/Article/Detail/849

Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog]

Feb 18, 2026 - Firearms and Ammunition Revenue Update (2025 Q4) [EconTax Blog] Firearms and Ammunition Revenue Update (2025 Q4) February 18, 2026 Seth Kerstein Beginning July 2024, Chapter 231 of 2023 (AB 28, Gabriel) imposed an 11 percent excise tax on retail sales of firearms, firearm precursor parts, and ammunition, with some exemptions.
https://lao.ca.gov/LAOEconTax/article/Detail/849

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