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

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

Mar 6, 2026 - In reality, the amount of such bonds (and thus 4  percent tax credits) needed for HDFC projects will be dependent on several factors —some which cannot be anticipated at this time —and could vary widely.
https://lao.ca.gov/Publications/Report/5154

The 2026-27 Budget: Proposed Zero-Emission Vehicle Incentive

Feb 24, 2026 - Given this fiscal reality, we expect that the Legislature will need to make very difficult budget decisions in the years to come. Governor’s Proposal Proposes $200   Million and Budget Trailer Legislation to Create New ZEV Incentive Program.
https://lao.ca.gov/Publications/Report/5140

The 2026-27 Budget: Framework for Approaching the Natural Resources, Environmental Protection, and Agriculture Budget

Feb 10, 2026 - This report provides a framework to help the Legislature approach funding environment-related programs within the context of the state's budget challenges.
https://lao.ca.gov/Publications/Report/5116

Implementing California’s Child Welfare Prevention Services Program

Jan 28, 2026 - However, the reality is more complicated, with many factors that contribute to families ’ risk for child maltreatment —such as poverty —existing far outside of local child welfare agencies ’ control.
https://lao.ca.gov/Publications/Report/5106

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