Strong Business Creation Continued in August [EconTax Blog]

Sep 3, 2020 - Strong Business Creation Continued in August [EconTax Blog] Strong Business Creation Continued in August September 3, 2020 Brian Uhler The extent of new business creation in California can be an important gauge of the health of the state ’s economy.
https://lao.ca.gov/LAOEconTax/Article/Detail/537

Changes in University of California General Fund Spending [EdBudget]

Sep 2, 2020 - If the state receives at least $14 billion in additional federal relief funding by October 15, 2020, $472 million of this funding is allocated to UC. If the state receives more than $2 billion but less than $14 billion, the additional amount provided to UC is proportionally reduced.
https://lao.ca.gov/Education/EdBudget/Details/397

University of California Core Funding by Source [EdBudget]

Sep 2, 2020 - If the state receives at least $14 billion in additional federal relief funding by October 15, 2020, $472 million of this funding is allocated to UC. If the state receives more than $2 billion but less than $14 billion, the additional amount provided to UC is proportionally reduced.
https://lao.ca.gov/Education/EdBudget/Details/396

Building Permits Update: July 2020 [EconTax Blog]

Aug 31, 2020 - Nearly 60 percent of the state total came from just two counties: Los Angeles, which recorded its biggest monthly total since January, and Santa Clara, which had its biggest month since 2018. Nonresidential construction permits were slightly lower in July than in June.
https://lao.ca.gov/LAOEconTax/Article/Detail/536

An Update on California’s Cash Management Situation

Aug 31, 2020 - State Controller Uses a Variety of Techniques to Manage Cash Position. The General Fund ’s daily cash situation is monitored and managed by the State Controller ’s Office (SCO). (The daily cash situations of other state funds, like special funds, are primarily managed by state departments.)
https://lao.ca.gov/Publications/Report/4266

Income Tax Withholding Tracker: August 24 - August 28 [EconTax Blog]

Aug 28, 2020 - Nonetheless, given the pace and severity of the shift in the state ’s economy resulting from the COVID-19 pandemic, tracking weekly withholding is worthwhile as a way to assess the state ’s rapidly changing economic situation.
https://lao.ca.gov/LAOEconTax/Article/Detail/535

Weekly Unemployment Claims Update: August 16 - August 22 [EconTax Blog]

Aug 28, 2020 - Since the pandemic began in March, as shown in the figure below, the state has issued $71 billion in unemployment insurance benefits with nearly three-quarters of that amount from new federal programs.
https://lao.ca.gov/LAOEconTax/Article/Detail/534

Home Prices Update: July 2020 [EconTax Blog]

Aug 25, 2020 - In the longer term, chronically high housing costs have hurt the state ’s business climate and been a key reason California loses residents to other states on net in most years. July 2020 data suggest that home prices have continued to grow both in California and nationwide despite the pandemic and the recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/533

August 2020 Cap-and-Trade Auction Update [EconTax Blog]

Aug 25, 2020 - Based on the preliminary results, the state will receive an estimated $474 million in revenue from the auction. As shown in Figure 1, this amount is substantially more than what the state received from the May 2020 auction ($25 million), but less than prior auctions—each of which generated over $600 million.
https://lao.ca.gov/LAOEconTax/Article/Detail/532

Contributions to CalSTRS [EdBudget]

Aug 24, 2020 - The rates shown include the state's required contribution to the Supplemental Benefits Maintenance Account. c Does not include payments made by the state on districts' behalf. d Does not include state supplemental payments for paying down unfunded CalSTRS pension liabilities.
https://lao.ca.gov/Education/EdBudget/Details/438