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

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various activities including maintaining these facilities, managing leases, and constructing new courthouses to replace outdated facilities.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: Food Assistance Programs

Feb 18, 2026 - H.R. 1 expands the ABAWD work requirement by: Applying it to adults through age 64, rather than 54. Applying it to adults caring for dependents aged 14 and older, rather than 18 and older. Eliminating exemptions for former foster youth, veterans, and homeless individuals.
https://lao.ca.gov/Publications/Report/5126

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

Mar 18, 2026 - Introduction California operates the nation ’s largest public school system, comprising 937 school districts, 1,257 charter schools, and 58 county offices of education. This year, these local agencies will educate nearly 5.8  million students, employ around 700,000 teachers and staff, and spend nearly $150  billion.
https://lao.ca.gov/Publications/Report/5165

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - The department runs three tobacco ‑focused programs: The Cigarette and Tobacco Products Tax Program administers a $2.87 per pack tax on combustible cigarettes and a 54  percent tax (adjusted annually) on the wholesale cost of other tobacco products, such as e ‑cigarettes, cigars, and chewing tobacco.
https://lao.ca.gov/Publications/Report/5132

The 2026-27 Budget: In-Home Supportive Services

Mar 18, 2026 - Overall, the effective federal reimbursement rate for IHSS is about 54  percent. The remaining nonfederal share of IHSS costs is covered by the state and counties. Historically, counties paid 35  percent of the nonfederal share of IHSS service costs and 30  percent of the nonfederal share of IHSS administrative costs.
https://lao.ca.gov/Publications/Report/5166