Home Prices Update: September 2021 [EconTax Blog]

Oct 20, 2021 - The next figure shows the month to month change in home prices in the state and the nation. The September state growth rate of 1.37 percent was very high by historical standards, but it was also the lowest figure since March and fell below the national growth rate for the first time since January.
https://lao.ca.gov/LAOEconTax/Article/Detail/706

The 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - CalSTA = California State Transportation Agency; ZEV = zero ‑emission vehicle; Caltrans = California Department of Transportation; CHP = California Highway Patrol; and DMV = Department of Motor Vehicles.
https://lao.ca.gov/Publications/Report/4448/1

Chronic dialysis clinics. [Ballot]

Oct 14, 2021 - This scenario would lead to increased costs for state and local governments likely in th e low tens of millions of dollars annually. This represents a minor increase in the state ’s total spending on Medi-Cal and state and local governments ’ total spending on employee and retiree health coverage.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-013

The 2021-22 Spending Plan: Housing and Homelessness

Oct 29, 2021 - Specifically, to expedite construction of projects that have successfully acquired some state funding, this program provides accelerated funding in lieu of waiting for state tax credits. Project Roomkey.
https://lao.ca.gov/Publications/Report/4468

Home Prices Update: August 2021 [EconTax Blog]

Sep 23, 2021 - The next figure shows the month to month change in home prices in the state and the nation. The state has seen more price growth than the nation in each of the last seven months. The August state growth rate of 1.98 percent was well below the July figure of 2.74 percent, but still very high by historical standards.
https://lao.ca.gov/LAOEconTax/Article/Detail/700

The 2022-23 Budget: Update on Home- and Community- Based Services Spending Plan [Publication Details]

Feb 10, 2022 - This post provides an update on the state's home- and community-based services spending plan, which was conditionally approved by the federal government in January 2022. We describe the quarterly updates the state will need to provide the federal government and ways to ensure legislative oversight over implementation of HCBS spending plan.
https://lao.ca.gov/Publications/Detail/4524

Enhancing Federal Financial Participation for Consumers Served by the Department of Developmental Services

Nov 9, 2021 - Consequently, the state cannot draw down federal Medicaid funds to help pay for DDS services provided to these consumers —the state (through the General Fund) currently pays 100  p ercent of the cost.
https://lao.ca.gov/Publications/Report/4471

MOU Fiscal Analysis: Bargaining Unit 8 (Firefighters)

Sep 7, 2021 - The study compared four state classifications with local counterparts: Firefighter II, Fire Apparatus Engineer, Fire Captain (Range A), and Battalion Chief. Survey Identified Significant Lag in State Compensation Relative to Local Governments.
https://lao.ca.gov/Publications/Report/4451

Cannabis Tax Revenue Update [EconTax Blog]

Feb 23, 2022 - The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax. Preliminary Total for Second Quarter of 2021-22: $196 Million. The administration currently estimates that retail excise tax revenue was $157 million and cultivation tax revenue was $39 million in the second quarter of fiscal year 2021-22 (October through December).
https://lao.ca.gov/LAOEconTax/Article/Detail/726

Cap-And-Trade Auction Update and GGRF Projections

Dec 6, 2021 - Based on the preliminary results, the state will receive an estimated $1.3 billion in revenue from the auction—the highest amount for any quarterly auction in the program’s history. As shown in Figure 1, this amount is somewhat more than what the state received from the August 2021 auction ($1.1 billion).
https://lao.ca.gov/Publications/Report/4480