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

Changes in University of California General Fund Spending [EdBudget]

Feb 13, 2026 - DOF included in Schedule 9 the original appropriations. e Reflects removal of $8.1 million from UC's budget relating to a UC Santa Cruz and Cabrillo College intersegmental housing project being shifted to being supported with Proposition 2 funds.
https://lao.ca.gov/Education/EdBudget/Details/1044

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

Feb 11, 2026 - Provisional Licensing Generally Ended in January 2026, First Two CCAP Cases Scheduled for Hearing in March and May. DCC has been moving cannabis licensees from provisional to annual licenses. January 1, 2026, was the last day for most provisional licenses to be in effect.
https://lao.ca.gov/Publications/Report/5119

The 2026-27 Budget: Food Assistance Programs

Feb 18, 2026 - (These exemptions were already scheduled to sunset in 2030.) Tightening rules for waivers based on economic conditions, ending California ’s statewide waiver. (The state is seeking waivers under the tighter rules on a county-by-county basis and has obtained waivers for several counties.)
https://lao.ca.gov/Publications/Report/5126

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - The Legislature may wish to monitor this issue by scheduling some of the proposed funding to expire after 2026 ‑27, requiring CDTFA to report on vacancies in key areas, or some combination of the two.
https://lao.ca.gov/Publications/Report/5132

The 2026-27 Budget: Proposition 4 Spending Plan

Feb 10, 2026 - (The exception to this approach is that the proposal includes small amounts of state operations —or “program delivery ” —funding scheduled for appropriation in future fiscal years to enable departments to hire and plan for program administration and oversight activities.)
https://lao.ca.gov/Publications/Report/5115