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

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

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

The 2025-26 California Spending Plan: Natural Resources and Environmental Protection

Oct 16, 2025 - The budget includes $260  million —$91.5  million General Fund and $168.5  million in lease revenue bonds —for CalFire capital outlay projects in 2025-26, of which $163  million is newly approved and $97  million was approved as part of previous budget agreements.
https://lao.ca.gov/Publications/Report/5080

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - Chapter  97 of 2025 (SB  280, Cervantes) called a statewide special election on November 4, 2025, for voters to consider Proposition 50 . Chapter 115 (SB 162, Committee on Budget and Fiscal Review) appropriated from the General Fund an unspecified amount to county elections officials and the Secretary of State for the “actual and reasonably necessary costs, as determined by the Director of Finance,” to conduct the election.
https://lao.ca.gov/Publications/Report/5081

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Judicial Branch

Feb 12, 2025 - Its internal committees acted in January to recommend Judicial Council restore the funding by revising the $97  million reduction downward to a $55  million reduction. This revised reduction was recommended to be allocated to the trial courts using the workload formula and methodology that was used for the $97  million reduction.
https://lao.ca.gov/Publications/Report/4959

Frequently Asked Questions About Wildfires in California

Jan 28, 2025 - . $97 million in 2022 ‑23 and $85 million and 455 positions ongoing thereafter to increase firefighter staffing levels. CalFire —Relief  Staffing.  $86 million ongoing starting in 2020 ‑21 to support additional firefighting positions and fire response surge capacity.
https://lao.ca.gov/Publications/Report/4952