Building Permits Update: April 2021 [EconTax Blog]

Jun 9, 2021 - Los Angeles County permitted the most units as usual, followed by Santa Clara and Alameda counties. Santa Clara ’s total of 765 was more than it recorded in the previous seven months combined. Nonresidential construction permit activity was surprisingly strong in March but dropped sharply in April, and the total of $1.041 billion was the lowest figure for any month since at least 2012.
https://lao.ca.gov/LAOEconTax/Article/Detail/663

Examining California's Income Tax Withholding Growth by Sector [EconTax Blog]

Jun 9, 2021 - Examining California's Income Tax Withholding Growth by Sector [EconTax Blog] Examining California 's Income Tax Withholding Growth by Sector June 9, 2021 Brian Uhler Bottom Line: While high-tech firms have played a big role, the recent increase in California income tax withholding has been broad-based.
https://lao.ca.gov/LAOEconTax/Article/Detail/662

Involuntary Servitude [Ballot]

Jun 9, 2021 - Such punishments include (1)  incarceration in state prison, county jail, or a county juvenile detention facility; (2)  supervision in the community by a county probation officer; (3)  payment of fines; or (4)  some combination of the three.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-003

Cannabis Tax Revenue Update [EconTax Blog]

Jun 2, 2021 - Cannabis Tax Revenue Update [EconTax Blog] Seth Kerstein In November 2016, California voters approved Proposition 64 , which legalized the nonmedical use of cannabis. The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax.
https://lao.ca.gov/LAOEconTax/Article/Detail/661

Income Tax Withholding Tracker: May 1 - May 28 [EconTax Blog]

May 28, 2021 - Income Tax Withholding Tracker: May 1 - May 28 [EconTax Blog] Income Tax Withholding Tracker: May 1 - May 28 May 28, 2021 Brian Uhler Bottom Line: California income tax withholding collections in May were 29.4 percent above May 2020.
https://lao.ca.gov/LAOEconTax/Article/Detail/660

Despite Fiscal Forecasting Uncertainties, Multiyear Budget Planning Essential

May 27, 2021 - Prudence dictates that only when baseline projections show operating surpluses (annual revenues exceeding expenditures) can new ongoing commitments or tax reductions be considered. Conversely, if projections indicate a looming structural deficit, the estimates are helpful in functioning as an early warning system.
https://lao.ca.gov/Publications/Report/4443

Repaying the State’s Federal Unemployment Insurance Loan

May 26, 2021 - UI Program Is Financed With Payroll Taxes Paid by Employers. Employers pay both state and federal UI payroll taxes. State UI tax revenues are deposited into the state ’s UI trust fund to pay benefits to unemployed workers.
https://lao.ca.gov/Publications/Report/4442

The 2021-22 Budget: LAO Preliminary Comments on the Governor’s Major May Revision Behavioral Health Proposals

May 24, 2021 - Behavioral Health Continuum Infrastructure Proposal The Proposal The Governor ’s May Revision includes a number of adjustments to the January behavioral health continuum infrastructure proposal to provide competitive grants to counties to acquire or renovate facilities for community behavioral health services (contingent on counties providing matching funds and committing to providing funding for ongoing services).
https://lao.ca.gov/Publications/Report/4439

The 2021-22 Budget: Preliminary Comments on the Governor’s May Revision Proposal for Broadband Infrastructure

May 24, 2021 - The administration proposes to create another new CASF program account —a loan loss reserve account —to help secure financing for locally owned broadband infrastructure projects sponsored by counties, municipalities, and tribes.
https://lao.ca.gov/Publications/Report/4440

The 2021-22 Budget: Multiyear Budget Outlook

May 23, 2021 - Under our estimates, recent gains in revenues —particularly from taxes on higher income earners —would persist and continue to grow close to the historical average rate. (For more discussion of our assumptions, please see: The 2021‑22 Budget: May Revenue Outlook .)
https://lao.ca.gov/Publications/Report/4437