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: California Competes Extension

Mar 18, 2026 - First, some firms lack tax liability in California due to ongoing and substantial use of other tax deductions and credits, most commonly the Research & Development Tax Credit and the Net Operating Loss deduction.
https://lao.ca.gov/Publications/Report/5162

Enrollment by Higher Education Segment [EdBudget]

Feb 5, 2026 - CLSF enrollment reflects resident enrollment in its juris doctor program. a Reflects the net change after accounting for the proposed 0.5 percent systemwide enrollment growth together with all other enrollment adjustments. b UC already exceeded its enrollment growth target set forth in the 2025-26 Budget Act for 2026-27 in 2025-26.
https://lao.ca.gov/Education/EdBudget/Details/1035

Property tax rules for inherited property. [Ballot]

Jan 21, 2026 - The net effect on county administrative costs is unclear but likely would not exceed the low tens of millions of dollars annually. Summary of Fiscal Effects. We estimate that this measure would have the following major fiscal effects: Many homeowners ages 60 or older would pay lower property taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-035

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

Special taxes. [Ballot]

Jan 27, 2026 - Net costs or savings resulting from the measure would depend on (1) how many special tax initiatives qualify for a one-time audit but are not approved by voters, (2) the number of pages that are added to the Voter Information Guide each election cycle, and (3) the level of savings that are identified and implemented as a result of the audits.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-040

The 2026-27 Budget: Medi-Cal Analysis

Mar 2, 2026 - For example, we estimated that a more proportionate tax netting around $7 billion in revenue could cost around $30 per member, per month—about a 5 percent increase on average to commercial health plan premiums.
https://lao.ca.gov/Publications/Report/5146

The 2026-27 Budget: Governor’s Sustainable Aviation Fuel Tax Credit Proposal

Feb 24, 2026 - To the extent this is the case, the policy would result in “shuffling, ” or replacing one lower carbon fuel with another rather than simply increasing overall use, thus limiting any net environmental benefits.
https://lao.ca.gov/Publications/Report/5139