The 2020-21 Spending Plan: Higher Education

Oct 16, 2020 - Of the $8.4 billion, $5.1 billion is state General Fund and $3.3 billion is local property tax revenue. Anticipated year-over-year growth in property tax revenue (3.5 percent) is more than offset by a budgeted decline in state General Fund support (14.5 percent).
https://lao.ca.gov/Publications/Report/4284

The 2020-21 Spending Plan: Health Budget and Policy [Publication Details]

Oct 15, 2020 - These actions include the offsetting of what would otherwise be General Fund costs with (1) revenues from the federally approved reauthorized tax on managed care organizations and (2) federal Medicaid funds that are being provided to the state at an enhanced level during the term of the public health emergency.
https://lao.ca.gov/Publications/Detail/4281

The 2020-21 Spending Plan: Health Budget and Policy

Oct 15, 2020 - Provides Funding to Backfill Declines in County Realignment Revenues, Some of Which Could Fund County Behavioral Health Services . The spending plan includes $750  million from the General Fund in 2020 ‑21 to offset counties ’ declines in realignment sales tax revenues.
https://lao.ca.gov/Publications/Report/4281

Income Tax Withholding Tracker: October 5 - October 9 [EconTax Blog]

Oct 9, 2020 - Income Tax Withholding Tracker: October 5 - October 9 [EconTax Blog] Income Tax Withholding Tracker: October 5 - October 9 October 9, 2020 Brian Uhler Bottom Line:   California income tax withholding collections over the past two weeks were 9 percent above the comparable weeks in 2019, pushing total withholding since late March to 2.5 percent above the same period last year.
https://lao.ca.gov/LAOEconTax/Article/Detail/561

The 2020-21 Spending Plan: Housing and Homelessness

Oct 8, 2020 - Maintains $500  Million Increase for Expanded Low-Income Housing Tax Credit. The budget authorizes the award of $500  million for the state ’s low-income housing tax credit program, which provides tax credits to builders of rental housing affordable to low-income households.
https://lao.ca.gov/Publications/Report/4278

The 2020-21 Spending Plan — Other Provisions

Oct 7, 2020 - Statutory Changes to Temporarily Change Process for Adjusting Cannabis Tax Rates. The California Department of Tax and Fee Administration (CDTFA) makes periodic, statutorily required adjustments to the rates for the state ’s two cannabis taxes: the retail excise tax and the cultivation tax.
https://lao.ca.gov/Publications/Report/4277

The 2020-21 Spending Plan: Transportation

Oct 5, 2020 - In particular, reductions in diesel sales tax revenues have reduced funding that supports STA. Gasoline excise taxes are also expected to be lower in 2020 ‑21 than previously predicted. However, Caltrans is able to maintain funding for its programs supported by these revenue sources because it has built up sufficient fund balances.
https://lao.ca.gov/Publications/Report/4272

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - The 1991 and 2011 r ealignments dedicated state sales tax and vehicle license fee revenue to counties for the administration of various programs on behalf of the state. The budget provides $ 750  m illion to backfill anticipated declines in realignment revenue in 2020 ‑21.
https://lao.ca.gov/Publications/Report/4263

The 2020-21 Spending Plan: Tax Changes

Oct 5, 2020 - Earned Income Tax Credit Expands Eligibility for California Earned Income Tax Credit (EITC). The California EITC is a personal income tax credit that is intended to reduce poverty by increasing the after-tax income of California ’s poorest working households.
https://lao.ca.gov/Publications/Report/4270

The 2020-21 Spending Plan: Resources and Environmental Protection

Oct 5, 2020 - Specifically, the augmentation provides (1) $34.2  million to support 172 permanent firefighting positions; (2) $44  million for 378 seasonal firefighters and other surge capacity; (3) $7.5  million for the six CalFire contract counties, pursuant to the state ’s existing budgeting methodology for contract counties, which is tied to CalFire ’s budget for fire response resources; and (4) $1.8  million for facilities and equipment, such as purchasing vehicles.
https://lao.ca.gov/Publications/Report/4275