How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - This Time Might Be Different, but It Is Not Safe to Bet on It.   As our office warned last November, it now appears time to take seriously the notion that the stock market has become overheated. While there is a chance that this time is different and no such downturn is forthcoming, the risk appears strong enough that we have incorporated it into the state 's revenue outlook.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - This Time Might Be Different, but It Is Not Safe to Bet on It.   As our office warned last November, it now appears time to take seriously the notion that the stock market has become overheated. While there is a chance that this time is different and no such downturn is forthcoming, the risk appears strong enough that we have incorporated it into the state 's revenue outlook.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

Oversight of certain frontier artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - In addition, certain p rivate individuals and organizations may bring civil actions to enforce compliance by regulated entities that have violated the measure ’s requirements. Creates California AI Safety Fund.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-034

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - For example, California-based companies could make changes to their r esearch, development, or investment decisions in response to the measure ’s oversight and compliance requirements. If such changes affect company profits or employment levels in California, it would affect state and local tax revenues.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

Oversight of certain nonprofit charities and related entities. [Ballot]

Jan 20, 2026 - Department of Justice (DOJ) Regulates Nonprofit Charities in California. State law provides DOJ with authority to regulate nonprofit charities within the state in a few key ways. First, state law requires most nonprofit charities register and provide DOJ with certain information annually.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-032

Artificial intelligence and child safety. [Ballot]

Jan 27, 2026 - The measure directs the DOJ to adopt regulations to implement and administer its requirements. These regulations would address independent audits of covered AI systems, including auditor standards, audit scope and methodology, and procedures for submitting and reviewing audit reports.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-036

The Bay-Delta Plan and Voluntary Agreements: Ensuring Effective Legislative Oversight

Mar 18, 2026 - Under the plan, these water users would follow a regulatory compliance pathway (as discussed in the next section). Figure 4
https://lao.ca.gov/Publications/Report/5163

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

Feb 23, 2026 - Revenues from these fees go into the Cigarette and Tobacco Products Compliance Fund (hereafter, “Compliance Fund ”). In 2025, the Legislature and the Governor took a couple of actions to align the Compliance Fund more closely with projected program costs under the new flavor ban laws.
https://lao.ca.gov/Publications/Report/5132

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

Mar 18, 2026 - Another core responsibility is adopting regulations when directed by the Legislature. For example, after the state adopted the Local Control Funding Formula in 2013 ‑14, it directed the board to develop regulations clarifying how districts could spend funds intended to benefit low ‑income students and English learners.
https://lao.ca.gov/Publications/Report/5165