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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
https://lao.ca.gov/LAOEconTax/article/Detail/852

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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major 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

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

Mar 3, 2026 - The SSI/SSP caseload grew at a rate of less than 1  percent each year between 2011-12 and 2014-15. Beginning in 2015-16, however, SSI/SSP caseload began to decline slowly at an average rate of 1.7  percent each year.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - In 2023‑24 and 2024‑25, the state made one‑time reductions to the program in recognition that funding provided exceeded the amount necessary to fund all State Preschool contracts. Child Care and State Preschool Reimbursement Rates in Transition.
https://lao.ca.gov/Publications/Report/5168

The 2026-27 Budget: Bureau for Private Postsecondary Education

Mar 25, 2026 - Most notably, in 2021-22, DCA issued a $12  million loan to the BPPE Fund from the Bureau of Automotive Repair ’s Vehicle Inspection and Repair Fund. (Control Section 14.00 of the annual budget act authorizes DCA to issue loans between the special funds it oversees.)
https://lao.ca.gov/Publications/Report/5169

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: Judicial Branch

Feb 11, 2026 - Since 2021 ‑22, the construction or renovation of 12  of the highest ranked immediate need projects have commenced. Some Facility Modification Projects Supported by General Fund. In addition to construction projects, the judicial branch manages smaller facility modification projects.
https://lao.ca.gov/Publications/Report/5113

The 2026-2027 Budget: California Cannabis Control Appeals Panel Permanent Funding Request

Feb 11, 2026 - Funding for CCAP was reauthorized twice (in 2020-21 and 2023-24), each time on a three-year, limited-term basis. The revised 2025-26 budget for CCAP includes $3.4  million CCF and 13 positions. Provisional Licensees Did Not Have Appeal Rights, Which Contributed to Dearth of Cases Between 2017-18 and 2025-26.
https://lao.ca.gov/Publications/Report/5119

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

Mar 19, 2026 - Governor ’s Proposal The Governor proposes $11.2  million in 2026-27, growing to $12  million annually thereafter through 2031-32, from the General Fund to support LCI ’s existing administrative and policy workload and to implement statutorily required activities.
https://lao.ca.gov/Publications/Report/5167