The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - Tax Reductions and Business Assistance Tax Refunds to Low-Income Californians. The Governor ’s budget proposes a one ‑time $600 tax refund to taxpayers who received the California Earned Income Tax Credit (EITC) for 2019 and taxpayers using an Individual Taxpayer Identification Number (ITIN) who will receive the EITC for 2020.
https://lao.ca.gov/Publications/Report/4309

The 2020-21 Spending Plan: Housing and Homelessness

Oct 8, 2020 - Maintains $500  Million Increase for Expanded Low-Income Housing Tax Credit. The budget authorizes the award of $500  million for the state ’s low-income housing tax credit program, which provides tax credits to builders of rental housing affordable to low-income households.
https://lao.ca.gov/Publications/Report/4278

The 2020-21 Spending Plan — Other Provisions

Oct 7, 2020 - Statutory Changes to Temporarily Change Process for Adjusting Cannabis Tax Rates. The California Department of Tax and Fee Administration (CDTFA) makes periodic, statutorily required adjustments to the rates for the state ’s two cannabis taxes: the retail excise tax and the cultivation tax.
https://lao.ca.gov/Publications/Report/4277

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Recently, corporation tax collections have grown faster than anticipated while personal income tax collections have grown somewhat slower. The administration assumes that this pattern will continue. This is because they attribute the pattern to partnerships, which are taxed under the personal income tax, changing to corporations in response to 2017 federal tax changes.
https://lao.ca.gov/Publications/Report/4135

The 2023-24 Budget: Overview of Information Technology Project Proposals

Mar 17, 2023 - IT = information technology; TF = total funds; GF = General Fund; OF = other funds; EDD = Employment Development Department; FTB = Franchise Tax Board; CDCR = California Department of Corrections and Rehabilitation; SWRCB = State Water Resources Control Board; DSH = Department of State Hospitals; CARB = California Air Resources Board; DDS = Department of Developmental Services;
https://lao.ca.gov/Publications/Report/4746

Federal Assistance for Businesses Affected by COVID-19

Apr 3, 2020 - State and federal tax laws typically require taxpayers to report forgiven loan amounts as income. However, the PPP and Health Care Enhancement Act excluded forgiven PPP loans from income for federal tax purposes.
https://lao.ca.gov/Publications/Report/4215

The 2022-23 Budget: Office of Planning and Research Budget Proposals

Feb 9, 2022 - To raise awareness of the Golden State Stimulus (GSS) and the California Earned Income Tax Credit (CalEITC) programs, the Franchise Tax Board, in partnership with the Department of Community Services and Development (CSD), award grants to CBOs for education and outreach activities.
https://lao.ca.gov/Publications/Report/4523

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

The 2020-21 Budget: The Governor’s Homelessness Plan

Feb 11, 2020 - Expands the State Housing Tax Credit Program.   The Governor proposes $ 500  m illion General Fund for the state ’s housing tax credit program. As in 2019 ‑20, the Governor proposes up to $ 200  m illion would be set aside for mixed ‑income projects.
https://lao.ca.gov/Publications/Report/4152

An Overview of Federal Higher Education Relief

Apr 28, 2020 - These public higher education segments primarily use state funding, along with student tuition revenue (and, at CCC, local property tax revenue), to cover their core operating expenses. These expenses include faculty salaries, employee benefits, building maintenance, equipment, and supplies.
https://lao.ca.gov/Publications/Report/4225