How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - The Governor proposes to pay down $8.4  billion of this amount, with districts receiving the associated cash in 2021 ‑22. Slightly more than $4  billion would remain deferred from 2021 ‑22 to 2022 ‑23.
https://lao.ca.gov/Publications/Report/4309

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - To illustrate the temporary effect this had on the state’s contribution rates, this action resulted in the state’s contributions to Unit 6 members’ pensions to total 32.84 percent of pay in 2021‑22, but the rate is 50 percent of pay in 2023‑24 (after the supplanting payment ended).
https://lao.ca.gov/Publications/Report/4800

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections) [Publication Details]

Sep 7, 2023 - We reviewed the proposed memorandum of understanding (MOU) for Bargaining Unit 6 (Corrections). This review is pursuant to Section 19829.5 of the Government Code.
https://lao.ca.gov/Publications/Detail/4800

COVID-19: American Rescue Plan’s Major Health-Related Funding Provisions

May 6, 2021 - The Governor ’s January 2021 budget assumed the cost of providing COVID-19 treatment to the uninsured would be 100  percent state funded. Starting in March  2021, the ARP Act expands Medicaid coverage to treatment of COVID-19, with the federal government paying for the entirety of the costs.
https://lao.ca.gov/Publications/Report/4425

The 2026-27 Budget: Supplemental Security Income/State Supplementary Payment (SSI/SSP) Program

Mar 3, 2026 - Specifically, the federal government pays for the SSI portion of the grant while the state pays the SSP portion of the grant. Federal Government Required to Provide Annual Cost-of-Living Adjustment (COLA) to SSI Grants … The federal government is required to provide an annual COLA each January to the SSI portion of the grant.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - For example, the 2025‑26 budget provided $30 million to support the transition to paying providers prospectively. (Currently, the state pays providers after they have submitted timesheets demonstrating they have provided care.)
https://lao.ca.gov/Publications/Report/5168

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - Actual spending on the Tobacco Licensing Program declined from $9.1  million in 2021 ‑22 to $6.9  million in 2024 ‑25, while actual spending on the Cannabis Tax Program grew from $8.4  million in 2021 ‑22 to $16.2  million in 2024 ‑25.
https://lao.ca.gov/Publications/Report/5132

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - We recommend the state return to paying for MCS the way it pays for other state programs —in the year in which the costs are generated. Even  funding MCS in the traditional way, the state could still set the award coverage percentage for each award year.
https://lao.ca.gov/Publications/Report/5127