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

The 2026-27 Budget: California State University

Feb 24, 2026 - From 2019 ‑20 to 2024 ‑25, CSU ’s debt service for state ‑approved projects grew from $295  million to $365  million (23  percent). (These amounts include debt service on university bonds as well as state bonds issued before 2014 ‑15.)
https://lao.ca.gov/Publications/Report/5142

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 - For ex ample, it would allow lead agencies 90 business days to determine if a project is exempt from environmental review and 365 business days to determine whether to certify an EIR. Sec ond, the measure provides the project applicant with options should the lead agency fail to meet the time limits.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-023

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 16 (Physicians, Dentists, and Podiatrists)

Jul 14, 2025 - As of June 30, 2023, the state and Unit 16 have set aside $78 million to prefund the benefit and the unfunded liability associated with Unit 16 is $365 million. The most recent actuarial valuation of Unit 16 retiree health benefits (as of June 30, 2023) estimates that the Unit 16 funding plan is now on track to fully fund Unit 16 retiree health benefits by 2042.
https://lao.ca.gov/Publications/Report/5064

Retail Theft in California: Looking Back at a Decade of Change

Jun 12, 2025 - Between April  2020 and December 2021, the California Department of Corrections and Rehabilitation (CDCR) released certain people up to 365  days before their normal release date. Eligibility for early release was determined based on people ’s criminal history; likelihood of committing future crimes; risk of complications from COVID ‑19; and the need to reduce capacity at the
https://lao.ca.gov/Publications/Report/5055

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