The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - This rationale is no longer valid as the state no longer has an estate tax. If the state were to eliminate the provision prospectively for inheritances of people who die after July 1, 2020, we estimate increased PIT revenue of about $120  million in 2020 ‑21, $450  million in 2021 ‑22, and $615  million in 2022 ‑23, with further increases in later years.
https://lao.ca.gov/Publications/Report/4238

U.S. Retail Sales: April 2020 [EconTax Blog]

May 18, 2020 - Although these data are not specific to California, they can help us understand the likely effects of the COVID-19 outbreak on revenues from the sales and use tax, a key state and local revenue source.
https://lao.ca.gov/LAOEconTax/Article/Detail/466

Income Tax Withholding Tracker: May 11-May 15 [EconTax Blog]

May 18, 2020 - Nonetheless, given the pace and possible 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/465

Comparing California Student Aid Commission Spending Proposals Under Governor's Budget and May Revision [EdBudget]

May 17, 2020 - It includes a budget control section that would trigger off the Golden State Teacher Grant Program reduction were the state to receive sufficient additional federal relief funding. e The May Revision proposes using $15 million federal Individuals With Disabilities Education Act funding for this purpose on a one-time basis.
https://lao.ca.gov/Education/EdBudget/Details/375

Comparing State Library Spending Proposals Under Governor's Budget and May Revision [EdBudget]

May 17, 2020 - Comparing State Library Spending Proposals Under Governor's Budget and May Revision [EdBudget] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Education/EdBudget/Details/382

Comparing UC Spending Proposals Under Governor's Budget and May Revision [EdBudget]

May 17, 2020 - Comparing UC Spending Proposals Under Governor's Budget and May Revision [EdBudget] -$628.2 a Backfills reduction in Proposition 56 funds. b Consists of reductions (10 percent each) to the Office of the President, the UCPath payroll system, and the Agriculture and Natural Resources division. c The May Revision includes a budget control section that would backfill these reductions were the
https://lao.ca.gov/Education/EdBudget/Details/378

The 2020-21 Budget: Initial Comments on the Governor’s May Revision [Publication Details]

May 17, 2020 - On May 14, 2020, Governor Newsom presented a revised state budget proposal to the Legislature. In this post, we provide an overview of the overall budget condition under the May Revision estimates and proposals; the major actions the Governor took to close an estimated $54 billion budget gap; and give our initial comments on this budget package.
https://lao.ca.gov/Publications/Detail/4232

The 2020-21 Budget: Initial Comments on the Governor’s May Revision

May 17, 2020 - Governor Also Proposes Supplanting Pension Payments for Schools and Community Colleges. The 2019 ‑ 20 b udget included two supplemental pension payments —one to the California State Teachers ’ Retirement System (CalSTRS) and one to the California Public Employees Retirement System (CalPERS) —that would reduce district pension contribution rates over the next few decades.
https://lao.ca.gov/Publications/Report/4232

Comparing CSU Core Funding Under Governor's Budget and May Revision [EdBudget]

May 16, 2020 - Comparing CSU Core Funding Under Governor's Budget and May Revision [EdBudget] a Includes funding for pensions and retiree health benefits. b Includes funds that CSU uses to provide tuition discounts and waivers to certain students. c Assumes no changes to January enrollment estimates.
https://lao.ca.gov/Education/EdBudget/Details/385

Comparing Hastings Core Funding Under Governor's Budget and May Revision [EdBudget]

May 15, 2020 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Education/EdBudget/Details/379