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

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
https://lao.ca.gov/LAOEconTax/article/Detail/852

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

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

The 2026-27 Budget: Cap-and-Invest Expenditure Plan

Feb 10, 2026 - While this rationale is reasonable, this approach is not without trade ‑offs. Most notably, because including state operations expenditures as part of Tier 1 means they receive first priority for available GGRF, adding new activities to this category can have the effect of gradually “crowding out ” other GGRF ‑funded programs and activities.
https://lao.ca.gov/Publications/Report/5114

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

Jan 27, 2026 - California residents pay state income taxes on all their income, including wages, investment income, and capital gains, even if the income was earned outside the state. Nonresidents Pay Tax on California-Earned Income.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-039

The 2026-27 Budget: Cap-and-Invest Expenditure Plan [Publication Details]

Feb 10, 2026 - The 2026-27 Budget: Cap-and-Invest Expenditure Plan [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5114

The 2026-27 Budget: University of California

Feb 26, 2026 - UC places its pooled cash in investment accounts and uses some of the annual investment earnings to support core operations. UC also receives overhead revenue associated with federal contracts and grants —known as federal indirect cost recovery —that helps support campus research infrastructure and certain central administrative costs.
https://lao.ca.gov/Publications/Report/5143

The 2026-27 Budget: California Public Utilities Commission’s Implementation of AB 1207 [Publication Details]

Feb 10, 2026 - In this post, we analyze a California Public Utilities Commission proposal to implement changes to the California Climate Credit pursuant to Chapter 117 of 2025 (AB 1207, Irwin).
https://lao.ca.gov/Publications/Detail/5120

The 2026-27 Budget: California Public Utilities Commission’s Implementation of AB 1207

Feb 10, 2026 - (For more information on recent changes to the cap-and-invest program, see our December 2025 publication, Overview of New Updates to the Cap-and-Invest Program .) Governor ’s Proposal Proposes $2.2  Million Ongoing for CPUC to Implement AB  1207.
https://lao.ca.gov/Publications/Report/5120

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Because the tax credit is nonrefundable, businesses without a significant California tax liability cannot benefit from the incentive it provides. Two types of businesses fall under this category. First, some firms lack tax liability in California due to ongoing and substantial use of other tax deductions and credits, most commonly the Research & Development Tax Credit and the Net Operating Loss deduction.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: Department of Developmental Services

Mar 13, 2026 - For the period spanning from January 1, 2025 through June  30,  2026, providers could earn the quality incentive portion of rate models by enrolling in DDS ’s Provider Directory. As a budget solution, the 2025 ‑26 Budget Act added three criteria that providers must satisfy to be eligible to earn a quality payment equal to 10   percent of the rate model beginning
https://lao.ca.gov/Publications/Report/5157