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

Artificial intelligence and child safety. [Ballot]

Jan 27, 2026 - AI refers broadly to technologies that allow computer systems to perform tasks that typically require human intelligence, such as generating content, identifying patterns, or making predictions from data.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-036

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - AI refers broadly to technologies that enable computer systems to perform tasks that typically require human intelligence, such as generating content, identifying patterns, or mak ing predictions from data.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

Oversight of certain frontier artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - AI refers broadly to technologies that enable computer systems to perform tasks that typically require human intelligence, such as generating content, identifying patterns, or mak ing predictions from data.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-034

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: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - The state, however, cannot predict the timing of such a decline. The potential forecasting errors are larger in 2026 ‑27 than in 2025 ‑26 because the 2026 ‑27 estimates must make assumptions further into the future, and the state does not yet have any tax collection data for the year.
https://lao.ca.gov/Publications/Report/5110

Assessing a Shift to Enrollment-Based School Funding

Jan 6, 2026 - Overall, our analysis finds that shifting to enrollment ‑based funding would be somewhat more predictable and reduce some administrative burdens for LEAs, but likely would have a negative effect on student attendance over the long run.
https://lao.ca.gov/Publications/Report/5100

The 2026-27 Budget: Contract to Achieve Operational Efficiencies

Mar 10, 2026 - That being said, the recent examples of Control Section 4.05, Control Section 4.12, and the current BCG-focused effort have demonstrated that predicting the level of savings from such activities is difficult.
https://lao.ca.gov/Publications/Report/5156