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: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - Property owners seeking tax relief under Proposition  19 must file a claim with the county in which the new (replacement) residence is located. After Proposition  19 went into effect, a backlog of claims developed, and some tax bills were sent to property owners that had not been updated to reflect the lower amounts they were entitled to pay under the terms of Proposition  19.
https://lao.ca.gov/Publications/Report/5130

California New Car Registrations: January 2026 [EconTax Blog]

Mar 11, 2026 - Statewide new car registrations declined steadily for several years leading up to the COVID-19 pandemic. Like many other measures of economic activity, registrations plummeted in March and April 2020.
https://lao.ca.gov/LAOEconTax/Article/Detail/853

California New Car Registrations: January 2026 [EconTax Blog]

Mar 11, 2026 - Statewide new car registrations declined steadily for several years leading up to the COVID-19 pandemic. Like many other measures of economic activity, registrations plummeted in March and April 2020.
https://lao.ca.gov/LAOEconTax/article/Detail/853

The 2026-27 Budget: Office of Emergency Services Next Generation 911 System

Feb 27, 2026 - The 2018 ‑19 budget package provided $11.5  million in 2018 ‑19 (increasing annually to $83.6  million in 2022 ‑23) from SETNA and six positions for OES to build out and support the Next Generation 911 system and maintain the legacy 911 system.
https://lao.ca.gov/Publications/Report/5145

The 2026-27 Budget: CalWORKs

Feb 18, 2026 - As shown in Figure  5, the CalWORKs caseload has steadily grown from early in 2021-22, coinciding with the expiration of enhanced federal Unemployment Insurance benefits following the COVID-19 pandemic.
https://lao.ca.gov/Publications/Report/5122

The 2026-27 Budget: Proposed Elimination of State Environmental Positions

Feb 17, 2026 - Although many of the same arguments apply about the programmatic importance of these positions, maintaining them will have an impact on the General Fund condition (ab out $19  million) and could require the Legislature to identify other budgetary reductions to accommodate their support.
https://lao.ca.gov/Publications/Report/5124