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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

UC Federal Grants and Contracts for Medical Care, R&D, and Other Purposes [EdBudget]

Feb 21, 2026 - The amounts in this row reflect federal allowances (or reimbursements) for indirect expenditures on research facilities and administration, formally known as Facilities & Administrative (F&A) costs. g Reflects expenditures to operate and manage DOE national laboratories. h Includes grants and contracts for various other purposes, including instruction and training.
https://lao.ca.gov/Education/EdBudget/Details/1047

The 2026-27 Budget: K-12 Proposals

Feb 19, 2026 - For example, the Legislature could require a status update by January 2028 and adoption of the process by January 2029, wit h the goal of beginning accreditation activities in 2029 ‑30. Receiving a status update would give the Legislature an opportunity to determine whether the proposed guidelines provide sufficient accountability for schools and whether existing funding is sufficient to support accreditation costs.
https://lao.ca.gov/Publications/Report/5131

The 2026-27 Budget: Department of Justice

Feb 11, 2026 - This looming insolvency of the DROS Special Account h as led to DOJ increasingly requesting General Fund resources to support firearm-related workload that can statutorily be supported by the special funds.
https://lao.ca.gov/Publications/Report/5118

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

Time limits, environmental reviews, and judicial reviews for certain types of infrastructure projects. [Ballot]

Dec 10, 2025 - (An exception concerns certain h ousing and large environmental projects that have been certified by the Governor, which currently have a 270-day time limit, to the extent feasible by the courts.) Environmental Review The measure would modify the environmental review process in several key ways, including: Changes Public Comment Periods.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-023

New Workload and Funding for the California Department of Education (CDE) [EdBudget]

Dec 2, 2025 - Of this funding, $854,000 is available on a one-time basis in 2025-26 and $1.1 million is available in 2026-27 through 2029-30. h Of this funding, $328,000 is available on a one-time basis and $164,000 is available ongoing.   
https://lao.ca.gov/Education/EdBudget/Details/1015

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091