The 2019-20 Budget: California Spending Plan—Expands Earned Income Tax Credit (EITC)

Oct 17, 2019 - The 2019 ‑20 budget package modifies and expands the state EITC in three ways. (For more information about the first state EITC, see our report, The 2015‑16 Budget: California Spending Plan. ) The administration estimates these changes will reduce tax revenue in 2019‑20 by $600 million.
https://lao.ca.gov/Publications/Report/4099

The 2019-20 Budget: California Spending Plan—Conformity

Oct 17, 2019 - The budget package changes state law so that corporations are required to make the same choice about the purchase for state tax purposes as they elected to do for federal t ax purposes. The change to state law ends the ability for some corporations to treat the purchase as an asset purchase for federal tax purposes, for example, and as a qualified stock purchase for state tax purposes.
https://lao.ca.gov/Publications/Report/4100

California's Geography of Wealth [Publication Details]

Sep 5, 2019 - California's Geography of Wealth [Publication Details] PDF Description: California is the wealthiest state in the nation. Despite this overall prosperity, wealth varies considerably across the state and its residents.
https://lao.ca.gov/Publications/Detail/4093

Managing California’s Cash [Publication Details]

Sep 3, 2019 - Given that the state's cash position will inevitably change in the future, we suggest the Legislature be cautious about approving additional proposals to make loans from the state's cash resources. Assessing a proposed loan using the criteria in this report may help determine whether its benefits exceed its costs.
https://lao.ca.gov/Publications/Detail/4092

Managing California’s Cash

Sep 3, 2019 - Over the next few decades, funds that pay pension costs accrue benefits through lower employer contributions costs relative to what they would be otherwise. Finally, funds that accrue these benefits are to repay the loan to the PMIA with interest.
https://lao.ca.gov/Publications/Report/4092

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

May 12, 2019 - These exemptions would apply to the full amount of the state and local sales tax. The Governor’s proposal would require our office to submit reports evaluating these exemptions by January 1, 2021. Reports by Policy Area
https://lao.ca.gov/Publications/Detail/4040

The 2019-20 May Revision: Sales Tax Exemptions for Diapers and Menstrual Products

May 12, 2019 - California ’s state and local governments charge a sales tax on the retail sale of tangible goods. The average rate is 8.6  percent. Of that, 3.94  percent raises money for the state ’s General Fund, and 2.06  percent raises money the state provides to counties for various local programs.
https://lao.ca.gov/Publications/Report/4040

The 2019-20 May Revision: Opportunity Zones [Publication Details]

May 11, 2019 - The Governor proposes to allow state tax benefits for investments in alternative energy or affordable housing in communities designated as Opportunity Zones under a new federal program.
https://lao.ca.gov/Publications/Detail/4038

The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - A handful of other states have adopted state tax credits that mirror the federal New Market Tax Credit to encourage investors to shift their New Market Tax Credit investment to those states. To gauge the effect of these state credits, we looked at how New Market Tax Credit investments changed in states after they
https://lao.ca.gov/Publications/Report/4038

Background on the California Earned Income Tax Credit [Publication Details]

Apr 11, 2019 - Presented to Senate Budget and Fiscal Review Committee Subcommittee 4 on State Administration and General Government
https://lao.ca.gov/Publications/Detail/4007