Home Sales Update: December 2020 [EconTax Blog]

Jan 29, 2021 - January sales are running below the levels of previous months, but this is a standard annual pattern and the pace remains well ahead of a year ago.  
https://lao.ca.gov/LAOEconTax/Article/Detail/616

Unemployment Claims Update: December 2019 [EconTax Blog]

Jan 17, 2020 - Unemployment claims have been relatively flat over the past year, fluctuating slightly around an average of about 175,000. This pattern signals a strong labor market and, contrary to other recent economic data , offers little evidence of an impending economic slowdown.
https://lao.ca.gov/LAOEconTax/Article/Detail/428

The 2020-21 Budget: Re-Envisioning Medi-Cal—The CalAIM Proposal

Feb 28, 2020 - (Because of the complexity of the rate ‑setting process, it typically takes two to three years for year ‑over ‑year changes in plan costs to be reflected in their capitated rates.) Since the state pays Medi ‑Cal managed care plans largely on the basis of their costs, any growth in managed care plans ’ ILOS costs would ultimately be borne by the state.
https://lao.ca.gov/Publications/Report/4185

DMV Shift to Online Services Due to COVID-19

Oct 16, 2020 - DMV reports that its field offices are, on average, 36 years old, and 23 offices it uses are 50 years or older. A change in app roach to the size and number of field offices could have immediate impact on capital outlay planning and construction in the next several years.
https://lao.ca.gov/Publications/Report/4283

The 2020-21 Budget: California Department of Tax and Fee Administration (CDTFA)

Mar 20, 2020 - With these resources, CDTFA could perform 660 audits per year, but we estimate that IFTA will require the department to perform roughly 750 audits per year by 2021. We estimate that CDTFA would need three additional ATAs (at a cost of roughly $570,000 per year) to increase its audit capacity to 750 per year.
https://lao.ca.gov/Publications/Report/4205

The 2020-21 Budget: Analysis of the Department of Developmental Services Budget [Publication Details]

Feb 7, 2020 - We first provide an overview of the budget proposal, including caseload projections and changes in year‑over‑year spending. We then consider four key new policy proposals. First, and most significantly, we consider the Governor’s proposal for a performance‑incentive program, which appears to represent a new direction for the DDS system.
https://lao.ca.gov/Publications/Detail/4147

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - The extended tax filing due date —while justified —will further complicate the task of developing revised revenue estimates both for the current year and the 2020 ‑21 fiscal year. Given that it will take time to appraise the ultimate effects on the state, the Legislature may need to take incremental steps —like adopting a workload budget in the nearer term —to
https://lao.ca.gov/Publications/Report/4203

October 2020 State Tax Collections [EconTax Blog]

Nov 13, 2020 - Next week, we will release our annual Fiscal Outlook, which will discuss the implications of these better-than-expected collections for the state ’s revenue outlook in the coming months and years. Withholding and sales tax receipts continue to be the largest sources of better-than-expected collections.
https://lao.ca.gov/LAOEconTax/Article/Detail/578

The 2021-22 Budget: Trial Court Operations Proposals [Publication Details]

Feb 11, 2021 - This publication examines the impacts of the novel coronavirus disease 2019 (COVID-19) pandemic and prior-year reductions on trial court operations.
https://lao.ca.gov/Publications/Detail/4362

Building Permits Update: December 2020 [EconTax Blog]

Feb 4, 2021 - Still, activity in November and December combined was very close to the 2015-19 average after being well below it for most of the rest of the year. More than half the units permitted in December came from Los Angeles and San Diego counties.
https://lao.ca.gov/LAOEconTax/Article/Detail/618