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: Bureau for Private Postsecondary Education

Mar 25, 2026 - As a result of BPPE ’s structural deficit, the state has taken several actions to keep the BPPE Fund solvent in recent years. Most notably, in 2021-22, DCA issued a $12  million loan to the BPPE Fund from the Bureau of Automotive Repair ’s Vehicle Inspection and Repair Fund.
https://lao.ca.gov/Publications/Report/5169

The 2026-27 Budget: In-Home Supportive Services

Mar 18, 2026 - However, as seen in Figure  5 , when we consider IHSS hourly wages separately, we see that the average growth rate of hourly wages has been 5.6  percent annually since  2014. This growth in IHSS hourly wages is in part due to increases to the state minimum wage —from $8  per hour on January 1, 2014 to $16.90 per hour on January  1,  2026.
https://lao.ca.gov/Publications/Report/5166

The 2026-27 Budget: California State University

Feb 24, 2026 - Despite making these out‑year funding commitments, the administration has offered no plan for how to meet them (through new revenue, spending reductions in other areas, or other specific budget‑balancing actions).
https://lao.ca.gov/Publications/Report/5142

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

Feb 23, 2026 - The 2026-27 Budget: Estimated State Savings From Proposition 47 Estimated State Savings From Proposition  47 Background Proposition  47 (2014) Reduced Punishment for Certain Lower-Level Drug and Property Crimes.
https://lao.ca.gov/Publications/Report/5108

The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - Trailer legislation scheduled the payment for 2014 ‑15 (later changed to 2015 ‑16). In October 2010, the state recognized a $1.8  billion increase to its previous estimate of the 2009 ‑10 guarantee. It made an initial payment of $300  million but did not schedule any future payments.
https://lao.ca.gov/Publications/Report/5110

The 2026-27 Budget: California Department of Corrections and Rehabilitation

Feb 23, 2026 - The Receiver ’s action plan lays out six primary goals, each with its own set of objectives and actions intended to address the outstanding deficiencies. Figure  8 shows the goals and accompanying selected actions.
https://lao.ca.gov/Publications/Report/5137