U.S. Retail Sales Update: February 2024 [EconTax Blog]

Mar 14, 2024 - Retail Sales Update: February 2024 [EconTax Blog] U.S. Retail Sales Update: February 2024 March 14, 2024 Seth Kerstein Today the U.S. Census Bureau released preliminary estimates of nationwide retail sales in February 2024 and revised estimates for January 2024.
https://lao.ca.gov/LAOEconTax/Article/Detail/802

2021-22 Fiscal Outlook Revenue Estimates [EconTax Blog]

Nov 18, 2020 - We project annual SUT growth of 2.8 percent in 2022-23, accelerating to 4 percent in 2023-24 and 2024-25. SUT Forecast Higher Than Budget Act. In total, our SUT projections from 2019-20 through 2021-22 are $7.2 billion above the amount assumed in the Budget Act .
https://lao.ca.gov/LAOEconTax/Article/Detail/581

The 2022-23 Budget: Student Financial Aid

Feb 18, 2022 - Under the original program, the state is to open a college savings account for every newborn in California and provide a seed deposit of at least $25 in each account. The  2019 ‑20 budget provided $25  million one ‑time General Fund to SIB to launch the program.
https://lao.ca.gov/Publications/Report/4548

Proposition 15 [Ballot]

Nov 3, 2020 - New Funding for Local Governments and Schools. Overall, $6.5  billion to $11.5  billion per year in new property taxes would go to local governments. 60  percent would go to cities, counties, and special districts.
https://lao.ca.gov/BallotAnalysis/Proposition?number=15&year=2020

The 2022-23 Budget: School Nutrition

Feb 8, 2022 - Federal Law Requires School Food Service Workers Meet Annual Training Requirements. Food service workers are required to complete six hours of training per year if they are employed full time and four hours if they are employed part time.
https://lao.ca.gov/Publications/Report/4519

The 2022-23 Budget: Highway Violence Task Force

Feb 14, 2022 - The Governor ’s budget includes a total of $10.6  million General Fund support over three years —$4  million in 2022 ‑23 and $3.3  million in 2023 ‑24 and 2024 ‑ 25 —for CHP to support its Highway Violence Task Force.
https://lao.ca.gov/Publications/Report/4533

Research and development involving certain psychedelic substances (Amendment #1). [Ballot]

Sep 7, 2023 - The share given to the state is to increase by 5  percentage points a year for each of the next four years —reaching 25  percent of royalty revenues by year 20. The remainder of royalty revenues are to continue being available for R &D and the TREAT Institute ’s administrative costs.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-013

Five Guidelines for Using Revenue Forecasts [EconTax Blog]

Feb 20, 2025 - Misses of $25 billion or more are not uncommon. These errors arise because revenues depend on factors that are inherently unpredictable, such as the economy, financial markets, and taxpayers ’ decisions.
https://lao.ca.gov/LAOEconTax/Article/Detail/822

Five Guidelines for Using Revenue Forecasts [EconTax Blog]

Feb 20, 2025 - Misses of $25 billion or more are not uncommon. These errors arise because revenues depend on factors that are inherently unpredictable, such as the economy, financial markets, and taxpayers ’ decisions.
https://lao.ca.gov/LAOEconTax/article/Detail/822

Federal Relief Funding for Higher Education [EdBudget]

Aug 6, 2021 - CSAC received funds for providing education and training grants to displaced workers, and SIB received funds to open college savings accounts for low-income public school children. CARES discretionary funds must be spent on costs incurred by December 31, 2021, while ARP discretionary funds must be spent on costs incurred by December 31, 2024.
https://lao.ca.gov/Education/EdBudget/Details/522