The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Operating Surplus of $5 Billion in 2022 ‑23. In addition to the factors described above, which are revisions to the 2021 ‑22 Budget Act , our outlook anticipates the state will have an additional $5.2 billion operating surplus in 2022 ‑23.
https://lao.ca.gov/Publications/Report/4472

Cannabis Tax Revenue Update (2025 Q3) [EconTax Blog]

Dec 2, 2025 - Chapter 56 of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022. As that law required, the administration raised the retail excise tax rate from 15 percent to 19 percent on July 1, 2025.
https://lao.ca.gov/LAOEconTax/Article/Detail/844

Cannabis Tax Revenue Update (2025 Q3) [EconTax Blog]

Dec 2, 2025 - Chapter 56 of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022. As that law required, the administration raised the retail excise tax rate from 15 percent to 19 percent on July 1, 2025.
https://lao.ca.gov/LAOEconTax/article/Detail/844

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

Mar 3, 2026 - The SSI/SSP caseload grew at a rate of less than 1  percent each year between 2011-12 and 2014-15. Beginning in 2015-16, however, SSI/SSP caseload began to decline slowly at an average rate of 1.7  percent each year.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Bureau for Private Postsecondary Education

Mar 25, 2026 - The 2022-23 budget then provided BPPE with $24  million one-time General Fund over three years to repay this loan and cover its operational costs while BPPE developed a proposal for a new fee structure.
https://lao.ca.gov/Publications/Report/5169

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - From 2022 ‑23 through 2024 ‑25, CSAC determined what percentage of each student ’s remaining costs to cover based on the annual MCS appropriation. In 2022 ‑23, award coverage was 26  percent, followed by 36  percent in 2023 ‑24, and 35  percent in 2024 ‑25.
https://lao.ca.gov/Publications/Report/5127

Cannabis Tax Revenue Update (2025 Q2) [EconTax Blog]

Sep 15, 2025 - Proposition 64 created two excise taxes on cannabis: a 15 percent retail excise tax and a cultivation tax. Chapter 56, Statutes of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022.
https://lao.ca.gov/LAOEconTax/Article/Detail/838

The 2026-27 Budget: University of California

Feb 26, 2026 - UC reserves also were impacted by the infusion of federal stimulus funding and one ‑time state funding provided in 2021 ‑22 and 2022 ‑23, with levels growing somewhat over those years. In 2023 ‑24 (the most recent year for which UC has reported data), UC reserves declined from 17  percent to 15  percent of annual core fund expenditures —equating to just under two months of reserves.
https://lao.ca.gov/Publications/Report/5143

The 2026-27 Budget: California State University

Feb 24, 2026 - Starting in 2022 ‑23, the state requires CSU to also increase SUG spending for enrollment growth. This policy has also contributed to increased spending, but less so than the tuition  increases. Spending on Capital Renewal Has Been Increasing at Same Rate as Overall Budget.
https://lao.ca.gov/Publications/Report/5142

Cannabis Tax Revenue Update (2025 Q4) [EconTax Blog]

Feb 26, 2026 - Chapter 56 of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022. Preliminary Total for Fourth Quarter of 2025: $145 Million. The administration currently estimates that retail excise tax revenue was $145 million in the fourth quarter of calendar year 2025 (October through December).
https://lao.ca.gov/LAOEconTax/Article/Detail/851