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 also establishes personal civil liability for executives who knowingly violate, or knowingly cause or permit violations of, the meas ure ’s requirements. Such executives may be subject to penalties of up to $10 million per violation.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: Medi-Cal Analysis

Mar 2, 2026 - Pending federal guidance on issues such as definitions of specific exemptions (for example, medical frailty), acceptable verification methods, and self ‑attestation standards could also materially affect the number of individuals who receive exemptions or who lose coverage for procedural reasons.
https://lao.ca.gov/Publications/Report/5146

The 2026-27 Budget: Department of Developmental Services

Mar 13, 2026 - H.R. 1 imposes new eligibility requirements on nondisabled childless adults who qualify for Medi ‑Cal via their income (that is, excluding individuals who qualify automatically because they receive SSI/SSP).
https://lao.ca.gov/Publications/Report/5157

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

Jan 27, 2026 - Taxpayers who spend less than half of the year in the state and have their driver ’s license and voter registration in another state would be nonresidents for tax purposes. New Tax on High-Income Nonresidents Who Spend More Than Two Months in the State.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-039

The 2026-27 Budget: Estimated State Savings From Proposition 47

Feb 23, 2026 - Some of these changes allow people who possess drugs or steal property worth $950 or less to be charged with felonies instead of misdemeanors in particular circumstances, such as if they have certain prior convictions.
https://lao.ca.gov/Publications/Report/5108

The 2026-27 Budget: Judicial Branch

Feb 11, 2026 - (The reimbursement authority would allow the state to accept payment from Orange County for its portion of the project costs as this is a shared facility.) This project generally addresses fire and egress safety issues.
https://lao.ca.gov/Publications/Report/5113

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

Mar 18, 2026 - (Separate from these functions, CDE operates three special schools and three diagnostic centers for students who are blind or deaf. The funding and staff for these instructional activities are not part of its state administration budget.)
https://lao.ca.gov/Publications/Report/5165