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

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

A Review of State Standards and Inspections for Local Detention Facilities

Feb 16, 2021 - Working groups that are appointed by ESCs to carry out subtasks and make recommendations. For example, the ESC tasked with reviewing local detention facility standards convenes multiple working groups, each focused on a particular subject area (such as nutritional health).
https://lao.ca.gov/Publications/Report/4371

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

Eligibility for elective office. [Ballot]

Oct 7, 2025 - Through two statewide constitutional initiatives (Proposition  11 of 2008 and Proposition  20 of 2010), voters in California established an independent commission to draw state district maps. The State Constitution sets limitations on Commission members ’ eligibility to run for elective office in the future.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-015

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - This change had the effect of accelerating tax collections from 2009 ‑10 into 2008 ‑09, thereby improving the 2008 ‑09 budget condition. As the state ’s fiscal situation continued to deteriorate in 2009, the 2009 ‑10 budget package again changed the quarterly estimated tax payment schedule to collect 70  percent in the first half of the fiscal year and 30  percent in the second, improving the 2009 ‑10 budget condition.
https://lao.ca.gov/Publications/Report/4722

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

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Jun 23, 2025 - In total, between 2008-09 and 2012-13, Unit 6 members received 94 furlough days —the most received by any of the 21 bargaining units. In comparison, most other state employees received 79 furlough days.
https://lao.ca.gov/Publications/Report/5058