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: K-12 Proposals

Feb 19, 2026 - From 2022 ‑23 through 2024 ‑25, the state appropriation remained at $4  billion annually, while the Tier 1 rate and overall Tier 1 TK ‑6 attendance increased. As a result, funding available for Tier 2 rates decreased.
https://lao.ca.gov/Publications/Report/5131

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

Mar 3, 2026 - SSP Grants Were Increased in 2016-17, 2021-22, 2022-23, and 2023-24.  Since the Great Recession, as seen in Figure  2, grants for individuals and couples have been increased four times —in 2016-17 (by 2.76  percent), 2021-22 (by 23.95  percent), 2022-23 (by 10.3  percent), and 2023-24 (by 9.2  percent).
https://lao.ca.gov/Publications/Report/5148

Cannabis Tax Revenue Update (2025 Q4) [EconTax Blog]

Feb 26, 2026 - Chapter 56 of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022. Preliminary Total for Fourth Quarter of 2025: $145 Million. The administration currently estimates that retail excise tax revenue was $145 million in the fourth quarter of calendar year 2025 (October through December).
https://lao.ca.gov/LAOEconTax/Article/Detail/851

Cannabis Tax Revenue Update (2025 Q4) [EconTax Blog]

Feb 26, 2026 - Chapter 56 of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022. Preliminary Total for Fourth Quarter of 2025: $145 Million. The administration currently estimates that retail excise tax revenue was $145 million in the fourth quarter of calendar year 2025 (October through December).
https://lao.ca.gov/LAOEconTax/article/Detail/851

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Center for Excellence $750,000 ongoing beginning in 2022 ‑23. Emergency Response Augmentation $50 million one ‑time in 2021 ‑22 and again in 2022 ‑23, expendable for four years (through June 30, 2026 for the later allocation).
https://lao.ca.gov/publications/report/5147

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - The Commission determined that the county incurred a total amount of about $30,000 in back-year costs (incurred between 2022 and 2024), and about $8,000 in ongoing costs thereafter. The ongoing costs are for the p rinting of disclosures.
https://lao.ca.gov/Publications/Report/5130