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

The 2026-27 Budget: University of California

Feb 26, 2026 - The Governor proposes to increase ongoing base General Fund support for UC by $351  million (7  percent) in 2026 ‑27. This increase reflects two components. First, the Governor ’s budget includes a 5  percent base increase ($254  million) for UC in 2026 ‑27, reflecting the fifth ‑year base increase of his multiyear compact.
https://lao.ca.gov/Publications/Report/5143

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

Jan 20, 2026 - Civil penalties on covered co mpanies may be assessed as a percentage of annual gross revenue, beginning at 5 percent for initial violations and increasing to as much as 100 percent for violations that remain u ncured over specified time periods.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: Supplemental Security Income/State Supplementary Payment (SSI/SSP) Program

Mar 3, 2026 - As shown in Figure  5, from 2013-14 through 2020-21, the maximum combined SSI/SSP monthly grant amount for individuals (the bulk of the SSI/SSP caseload) and couples had increased on average by 1.2  percent annually —predominantly due to the provision of federal SSI COLAs.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Governor’s Office of Land Use and Climate Innovation Proposals

Mar 19, 2026 - Funding proposed for the judicial streamlining program pursuant to Chapter  19 of 2021 (SB  7, Atkins) and Chapter  60 of 2023 (SB  149, Caballero) is at similar levels to what was provided in previous years, and would allow LCI to continue implementing the legislation ’s requirements through its sunset year.
https://lao.ca.gov/Publications/Report/5167

The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - The Governor ’s budget also maintains a $7  billion withdrawal from the BSA in 2025-26. If a May Revision windfall exceeds the amount needed to fund the true up, we recommend the Legislature use those resources to reduce the size of this withdrawal.
https://lao.ca.gov/Publications/Report/5133

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - The latter reductions are primarily due to lower Proposition  64 revenues and the use of one ‑time federal carryover funds in 2025 ‑26 ( Figure  5 ). Figure 4
https://lao.ca.gov/Publications/Report/5168

The 2026-27 Budget: California State University

Feb 24, 2026 - The Governor proposes to increase ongoing base General Fund support for CSU by $366  million (7  percent) in 2026 ‑27. This increase reflects two components. First, the Governor ’s budget includes a 5  percent base increase ($265  million) for CSU in 2026 ‑27, reflecting the fifth ‑year base increase of his multiyear compact.
https://lao.ca.gov/Publications/Report/5142