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

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - These firms have invested heavily in building out data centers and on extraordinary pay packages for their key employees. This spending, along with gains to investors, has turbo-charged state income tax receipts.
https://lao.ca.gov/Publications/Report/5104

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - The recently passed state budget includes a provision allowing California S corporations, partnerships, or LLCs to pay an optional 9.3  percent tax at the entity level from tax years 2021 to 2025. If a business elects to pay this tax, its owners who pay the California PIT would receive a nonrefundable credit for their full share of the new entity-level tax.
https://lao.ca.gov/Publications/Report/4452

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Current stock prices relative to companies ’ past earnings (a common measure of how “expensive ” stocks are) are at levels rivaled only by the transitory booms of 1999 and 2021. Furthermore, a single company (Nvidia) accounts for about one ‑third of the total gains in the S &P 500 stock index over the last year.
https://lao.ca.gov/Publications/Report/4939

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Second, Proposition  2 created new requirements that the state spend a minimum amount each year, until 2030, to pay down specified debts. As shown in Figure  1, Proposition  2 has two avenues for making reserve deposits and paying debt.
https://lao.ca.gov/Publications/Report/4418

The 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - Under the June 2021 b udget plan, the total required deposit is $4. 5 b illion —$1. 9 b illion in 2020 ‑21 and $2. 6 b illion in 2021 ‑22. The largest discretionary allocation of Proposition 98 funding is $12. 5 b illion to pay down the deferrals the state adopted as part of the June 2020 b udget plan.
https://lao.ca.gov/Publications/Report/4448

Rethinking California's Reserve Policy

Apr 10, 2025 - For example, between 2020 ‑21 and 2021 ‑22, the formulas reduced the share of excess capital gains that benefit Proposition  2 by $8  billion. Saving All Excess Capital Gains Would Allow the State to Save More Revenue Peaks.
https://lao.ca.gov/Publications/Report/5028

The 2022-23 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 17, 2021 - Figure 9 shows our estimate of the changes in funding and costs relative to the 2021 ‑22 enacted budget level. Regarding the downward cost adjustments, the 2021 ‑22 budget plan allocated $5.9 billion for one ‑time activities, including funds to pay down deferrals and cover the reserve deposit required in 2021 ‑22.
https://lao.ca.gov/Publications/Report/4473

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Although the state and employees contribute money to prefund retiree health benefits earned today, the state pays for current retirees ’ health benefits on a pay-as-you-go basis. This pay-as-you-go cost grows each year as health premiums rise and the number of retired state workers grows.
https://lao.ca.gov/Publications/Report/4814

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Prior to the COVID ‑19 pandemic, families making at least 40  percent of the state median income were required to pay a fee (varying from about 1  percent to 10  percent of family income) for child care and full ‑day State Preschool services.
https://lao.ca.gov/Publications/Report/4788