The 2022-23 California Spending Plan: The State Appropriations Limit

Sep 30, 2022 - The Constitution allows refunds of taxes to be excluded from appropriations subject to limit (see: Section 8(a) of Article XIIIB of the California Constitution). As a result, these types of tax refunds are scored as spending rather than revenue reductions.
https://lao.ca.gov/Publications/Report/4631

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Still, in any given year, the amount of revenue the entity tax generates should exceed the amount of entity tax credits used by PIT filers. Entity Tax Will Sunset in 2026 if Not Sooner. As stated above, the entity tax will be in effect from calendar years 2021 to 2025.
https://lao.ca.gov/Publications/Report/4452

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - Our estimate of the total Proposition  98 spending on schools and community colleges in 2022 ‑23 is $106.7  billion ($78.6  billion from the General Fund and $28.1  billion from local property taxes).
https://lao.ca.gov/Publications/Report/4646

The 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - The state could reform th e underlying tax structure to make it less volatile, which nearly certainly would involve reducing tax rates for higher ‑income earners. Or, the state could address volatility by building reserves —funds that can be saved during upswings and spent during downturns.
https://lao.ca.gov/Publications/Report/4687

The 2022-23 Budget: Overview of the Governor's Budget

Jan 13, 2022 - Taxes Business Tax Reductions Lifts Temporary Limits on Business Tax Provisions. The Governor ’s budget proposes to end, one year early, temporary limits on the ability of businesses to use NOL deductions and tax credits to reduce their tax payments.
https://lao.ca.gov/Publications/Report/4492

The 2022-23 Budget: Medi-Cal Fiscal Outlook

Nov 17, 2021 - Assumed Expiration of the MCO Tax Reauthorization of the MCO Tax Would Generate Billions of Dollars in General Fund Savings Beginning in 2023 ‑24. The MCO tax generates annual General Fund savings in Medi ‑Cal of $1.5 billion or more for each year it is in effect.
https://lao.ca.gov/Publications/Report/4474

The State Appropriations Limit

Apr 21, 2021 - These are determined by first estimating proceeds of taxes from all state sources and then subtracting exclusions. Determine Proceeds of Taxes. All state proceeds of taxes are included in the limit regardless of their fund source.
https://lao.ca.gov/Publications/Report/4416

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - For a number of years, the state has imposed a tax on managed care organizations’ (MCOs’) Medi‑Cal and commercial lines of business. We assume the state’s MCO tax expires midway through 2022‑23, consistent with current law.
https://lao.ca.gov/Publications/Report/4472

Flexible Funding to California in the American Rescue Plan

Mar 23, 2021 - What Kinds of Tax Reductions Are Prohibited? The statutory language appears to prohibit any kind of tax reduction —direct or indirect —if the state accepts all of the fiscal relief funds. (Otherwise, the federal government will reduce the state ’s share of relief funds by the amount of the tax reduction.)
https://lao.ca.gov/Publications/Report/4407

The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products [Publication Details]

May 12, 2019 - The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products [Publication Details] The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products Format: HTML Description: In the May Revision, the Governor has proposed two new sales tax exemptions that would go into effect on January 1, 2020 and expire on December 31, 2021: one for menstrual products and another for children’s diapers.
https://lao.ca.gov/Publications/Detail/4040