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 - [Ballot] Pursuant to Elections Code Section 9005, we have reviewed the proposed initiative related to oversight of certain public benefit artificial intelligence (AI) companies (A.G. File N o. 25-0033).
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

Temporary tax increases. [Ballot]

Jan 27, 2026 - [Ballot] Pursuant to Elections Code Section 9005, we have reviewed the proposed initiative related to temporary tax increases (A.G. File No. 25-0037, Amendment #1). Background Initiatives Can Raise Taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-037

Prohibit new taxes on financial assets and other personal property. [Ballot]

Jan 27, 2026 - [Ballot] Pursuant to Elections Code Section 9005, we have reviewed the proposed initiative that would prohibit new taxes on financial assets and other personal property (A.G. File No. 25-00 41, Amendment #1).
https://lao.ca.gov/BallotAnalysis/Initiative/2025-041

The applicability of tax increases to the state’s constitutional requirements. [Ballot]

Jan 27, 2026 - [Ballot] Pursuant to Election Code Section 9005, we have reviewed the proposed initiative regarding the applicability of tax increases to the state ’s constitutional requirements  (A.G. File No. 25-0038, Amendment #1).
https://lao.ca.gov/BallotAnalysis/Initiative/2025-038

Residency rules for state personal income tax purposes. [Ballot]

Jan 27, 2026 - [Ballot] Pursuant to Elections Code Section 9005, we have reviewed the proposed initiative that would change the state ’s residency rules for state personal income tax purposes (A.G.  File  No.  25-0039, Amendment #1).
https://lao.ca.gov/BallotAnalysis/Initiative/2025-039

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

Mar 18, 2026 - For example, the education code will need to be amended to shift the SPI ’s duties to the education commissioner. New positions in the SBE, CDE, and the SPI will have to be created, others deleted, and responsibilities defined.
https://lao.ca.gov/Publications/Report/5165

Property tax rules for inherited property. [Ballot]

Jan 21, 2026 - [Ballot] Pursuant to Elections Code Section 9005, we have reviewed the proposed initiative regarding property tax rules for inherited property (A.G. File No. 25-0035). Background Local Governments Collect Property Taxes From Property Owners.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-035