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

The 2026-27 Budget: K-12 Proposals

Feb 19, 2026 - We recommend requiring unallocated funding from community schools grants to revert back to the state at the end of each fiscal year. We also recommend reverting the $485  million currently set aside for extension grants.
https://lao.ca.gov/Publications/Report/5131

The 2026-27 Budget: Medi-Cal Analysis

Mar 2, 2026 - Proposal Assumes Current Version of Health Plan Tax Expires at End of 2026 … The Governor ’s budget assumes the current structure of the health plan tax remains in effect through the end of December  2026.
https://lao.ca.gov/Publications/Report/5146

The 2026-27 Budget: California Education Learning Lab

Mar 25, 2026 - In 2025-26, the state maintained $5.5  million General Fund for Learning Lab but indicated intent to end the program in 2026-27. Beyond state support, Learning Lab has received a total of about $400,000 in one-time funding from philanthropic organizations (used mostly for convenings and faculty development).
https://lao.ca.gov/Publications/Report/5171

The 2026-27 Budget: Contract to Achieve Operational Efficiencies

Mar 10, 2026 - The next formal status report on the work stemming from the BCG contract will not be provided until February 2027 —after the contract has ended and after much of the work will have been set in motion.
https://lao.ca.gov/Publications/Report/5156

The 2026-2027 Budget: California Cannabis Control Appeals Panel Permanent Funding Request

Feb 11, 2026 - By the end of this period, the number of cases CCAP is likely to receive annually on an ongoing basis should be clearer. We further recommend that the Legislature direct CCAP to provide an updated workload justification for each CCAP position.
https://lao.ca.gov/Publications/Report/5119

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

Feb 4, 2026 - In 2019 ‑20, however, the state adopted a new law prohibiting spending reductions after the fiscal year ends. This law allows the state to reduce spending during its first recalculation of the guarantee, but prevents reductions during the second recalculation at the end of the next fiscal year.
https://lao.ca.gov/Publications/Report/5110

The 2026-27 Budget: Bureau for Private Postsecondary Education

Mar 25, 2026 - Even with out repayment, that fund would have more than enough to cover its expenditures, with an estimated ending balance of $95  million (22 months of expenditures) in 2025-26. Proposal Would Not Address BPPE ’s Underlying Structural Deficit.
https://lao.ca.gov/Publications/Report/5169