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: In-Home Supportive Services

Mar 18, 2026 - MOE Structure Has Changed Over Time, Beginning With 2012 MOE. As part of the 2012 IHSS MOE, beginning in 2012 ‑13, all counties were required to maintain their 2011 ‑12 expenditure levels for IHSS, to which an annual growth factor of 3.5  percent was applied beginning in 2014 ‑15.
https://lao.ca.gov/Publications/Report/5166

The 2026-27 Budget: California Highway Patrol Proposals

Mar 6, 2026 - Moreover, if the department generally was able to cover most operating and equipment costs within its baseline budget when its officer vacancy rate was at roughly 3 percent or below (as it was from 2012 through 2019), it is unclear why it cannot do the same when its vacancy rate is notably higher.
https://lao.ca.gov/Publications/Report/5152

The Bay-Delta Plan and Voluntary Agreements: Ensuring Effective Legislative Oversight

Mar 18, 2026 - Evolution of Current Sacramento/Delta Updates SWRCB Began the Sacramento/Delta Update Process in 2012. As shown in Figure  3, SWRCB began the process of updating the phase two Sacramento/Delta portion of the Bay ‑Delta Plan in 2012.
https://lao.ca.gov/Publications/Report/5163

The 2026-27 Budget: University of California

Feb 26, 2026 - As Figure  6 shows, UC core fund balances as a share of its annual core fund expenditures have been as low as 1.8  percent in 2008 ‑09 and as high as 23  percent in 2012 ‑13. UC reserves dropped notably at the onset of the Great Recession.
https://lao.ca.gov/Publications/Report/5143