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: 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: K-12 Proposals

Feb 19, 2026 - The administration ind icates it plans to modify this part of the proposal in the May Revision and may allow funds to be used for a broader set of activities related to community  schools. Effects of Community Schools Model Research Finds Benefits to Community Schools Model.
https://lao.ca.gov/Publications/Report/5131

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