How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
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: California State University

Feb 24, 2026 - (In addition, the California Student Aid Commission budget includes $53 million ongoing General Fund to pay for higher associated Cal Grant costs for CSU students in 2026‑27. Many CSU students with financial need receive full tuition coverage under the Cal Grant program.)
https://lao.ca.gov/Publications/Report/5142

The 2026-27 Budget: Bureau for Private Postsecondary Education

Mar 25, 2026 - Consistent with that report, BPPE is now seeking legislative approval for fee increases as part of its sunset review t his spring. Most notably, under BPPE ’s proposal, the annual fee would increase to 0.75  percent of each campus ’s total revenue from California students, with a minimum fee of $4,000 and a maximum fee of $80,000 per campus.
https://lao.ca.gov/Publications/Report/5169

The 2026-27 Budget: Community College Facilities

Mar 17, 2026 - The total cost across all project phases is $748  million, with the state covering $399  million (53  percent) and districts covering $348  million (47  percent). Figure 2 Governor ’s Budget Funds New CCC Capital Outlay Projects Proposition 2 Bond Funds (In Thousands) College $399,428 $747,686 a Community college districts issue local general obligation bonds to pay for a share
https://lao.ca.gov/Publications/Report/5159

The 2026-27 Budget: Food Assistance Programs

Feb 18, 2026 - Of these, about 665,500 are estimated t o not meet the requirement, becoming at risk of losing food assistance. Any discontinuances would gradually occur over 12 months as affected recipients undergo annual recertification.
https://lao.ca.gov/Publications/Report/5126

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

Jan 20, 2026 - If initial registration fees are insufficient to establish the commission, the State Controller may advance up to $10 million from the General Fund, to be repaid with interes t within three years of the first annual assessments.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-034

The 2026-27 Budget: Higher Education Overview

Feb 5, 2026 - Additionally,  the budget more than triples ongoing Proposition  98 funding for Calbright College (raising support from $15  million to $53  million). Calbright College is a fully online college the state established in 2018 ‑19.
https://lao.ca.gov/Publications/Report/5112