The 2022-23 Budget: Analysis of Child Welfare Proposals and Program Implementation Updates

Feb 22, 2022 - Tax Credit for Former Foster Youth: $20  million estimated reduction in revenue to provide fully refundable tax credits of around $1,000 to former foster youth age 18  through  25 who are eligible for the California Earned Income Tax Credit.
https://lao.ca.gov/Publications/Report/4558

November 2020 Cap-and-Trade Auction Update [EconTax Blog]

Dec 4, 2020 - In addition, consistent with current law, an estimated $42 million will be transferred to the General Fund to backfill revenue losses from a 2017 expansion of a sales tax exemption for certain manufacturers.
https://lao.ca.gov/LAOEconTax/Article/Detail/588

The 2022-23 Budget: Department of Toxic Substances Control Reform Implementation

Jan 25, 2022 - The account is primarily funded by a broad ‑based tax charged to businesses that contribute to hazardous waste. Department Recently Underwent Significant Governance and Fiscal Reform. Budget trailer legislation as part of the 2021 ‑22 budget package, Chapter  73 of 2021 (S B  158 , Committee on Budget and Fiscal Review), restructured and increased the charges that support HWCA and TSCA.
https://lao.ca.gov/Publications/Report/4497

The 2022-23 Budget: Green School Bus Grants

Feb 10, 2022 - Appropriations subject to the limit consist of total state tax revenues after subtracting excluded spending, including capital outlay, certain spending on emergencies, and certain subventions to local governments.
https://lao.ca.gov/Publications/Report/4525

Financial Aid Award Amounts [EdBudget]

Jan 16, 2020 - Students who receive the Cal Grant B Access Award also receive a supplemental award funded by the College Access Tax Credit. The proposed size of the supplement is $24 in 2020-21. We estimate the UC Grant nontuition award based on the average undergraduate cost of attendance, less systemwide tuition and fees and a self-help expectation.
https://lao.ca.gov/Education/EdBudget/Details/353

The 2022-23 California Spending Plan: Proposition 98

Oct 24, 2022 - The state meets the guarantee through a combination of state General Fund and local property tax revenue. Guarantee up Substantially Compared With Previous Budget Estimates. As Figure  2 shows, the estimates of the guarantee under the June 2022 budget plan are up significantly compared with the June 2021 estimates.
https://lao.ca.gov/Publications/Report/4641

The 2020-21 Budget: Structuring the Budget

Feb 10, 2020 - Managed Care Organization (MCO) Tax Approved. After enacting the 2019 ‑ 20 b udget in June, the Legislature reauthorized the MCO tax in September. The MCO tax generates General Fund benefit by taxing enrollment in MCOs and using that revenue to offset General Fund costs in Medi ‑Cal.
https://lao.ca.gov/Publications/Report/4150

The 2023-24 Budget: University of California

Feb 15, 2023 - According to UC, the Institute would be an independent research institute funded through a public ‑private partnership and classified for federal tax purposes as a California nonprofit public benefit corporation.
https://lao.ca.gov/Publications/Report/4684

The 2021-22 Spending Plan: Judiciary and Criminal Justice

Oct 6, 2021 - Excess Property Tax Offset. The budget includes a $121.1  million reduction in General Fund support for trial court operations in 2021 ‑22 in order to reflect the availability of property tax revenue in accordance with Control Section 15.45 and Section 2578 of the Education Code.
https://lao.ca.gov/Publications/Report/4460

The 2021-22 Spending Plan: Natural Resources and Environmental Protection

Oct 18, 2021 - Budget trailer legislation specifies that the state “consents ” to those previous city taxes but prohibits the state ’s share of revenues from being subject to any future local taxes, fees, or assessments without explicit statutory authorization.
https://lao.ca.gov/Publications/Report/4463