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: Supplemental Security Income/State Supplementary Payment (SSI/SSP) Program

Mar 3, 2026 - In all but one of these 16 counties, the maximum SSI/SSP grant for couples is less than the FMR for a one-bedroom unit (the maximum SSI/SSP grant for couples in Los Angeles is $14 above the FMR for a one-bedroom unit).
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Estimated State Savings From Proposition 47

Feb 23, 2026 - As shown in Figure  1, these estimates represent a $13  million (14  percent) and a 501 person (13  percent) decline relative to the 2023-24 savings, the year before Proposition  36 took effect. These declines primarily reflect the administration ’s estimate of the impact of Proposition  36 —which went into effect halfway through 2024-25.
https://lao.ca.gov/Publications/Report/5108

The 2026-27 Budget: California State University

Feb 24, 2026 - The state pays costs for the employer contribution associated with CSU’s 2013‑14 payroll level. CSU pays the employer contribution for any payroll growth above that level. The state adopted this arrangement in 2013‑14 to provide CSU with a stronger fiscal incentive to contain staffing costs.
https://lao.ca.gov/Publications/Report/5142

The 2026-27 Budget: University of California

Feb 26, 2026 - It  carries debt mostly from former state general obligation bonds and, beginning in 2013 ‑14, from university bonds. In 2013 ‑14, the state initiated a new policy intended to provide UC with greater ability to manage its facilities, more predictability in facility financing, and more incentive to contain costs.
https://lao.ca.gov/Publications/Report/5143

The 2026-27 Budget: In-Home Supportive Services

Mar 18, 2026 - For information on the Coordinated Care Initiative, please refer to our previous report title d: The 2013‑14 Budget: Coordinated Care Initiative Update . What Is Realignment? Realignments Typically Shift Responsibility, and Funding, From the State to the Counties.
https://lao.ca.gov/Publications/Report/5166

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

Feb 23, 2026 - From 2021 ‑22 to 2024 ‑25, tobacco tax revenues dropped 14  percent per year —much faster than the 2  percent historical average. Potential explanations for this decline include: A drop in actual tobacco consumption —the flavor ban ’s intended outcome.
https://lao.ca.gov/Publications/Report/5132