Rethinking California's Reserve Policy

Apr 10, 2025 - We put forward two recommendations to improve reserve policy: Raise the Reserve Cap to 50   Percent by 2055. We first recommend the cap on constitutional reserve deposits be raised from 10  percent to 50  percent of General Fund taxes.
https://lao.ca.gov/Publications/Report/5028

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Whereas California’s labor market has stagnated over the last two years, the S&P 500 stock index has appreciated roughly 50 percent over the same period. And most of this increase has come from skyrocketing share prices among a handful of firms associated with innovations in Artificial Intelligence (AI).
https://lao.ca.gov/Publications/Report/5104

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Note: Includes augmentations above $50 million BCSH = Secretary for Business, Consumer Services, and Housing Agency and HCD = Department of Housing and Community Development. Appendix 4, Figure 5 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Other General Fund (In millions) Broadband infrastructure —last ‑mile
https://lao.ca.gov/Publications/Report/4788/4

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - Some of the largest spending augmentations proposed for the budget window include: (1) $76 million for utility replacement and site improvements at Exposition Park, (2) $67 million to the California Department of Forestry and Fire Protection for fixed‑wing aircraft pilot and mechanics contract increases, (3) $60 million to the Department of Health Care Access and Information for a reproductive
https://lao.ca.gov/Publications/Report/5101

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The stock market (S &P 500) has risen 50  percent in the last two years. Most of these gains come from the meteoric rise in the value of a handful of tech companies that investors believe will be major beneficiaries of recent advances in AI.
https://lao.ca.gov/Publications/Report/5091

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - The spending plan provides an additional three years of expenditure authority for these 50 positions, from 2024-25 to 2026-27, in the amount of $9.4 million from CPUC’s Utilities Reimbursement Account.
https://lao.ca.gov/Publications/Report/4934

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - The spending plan provides an additional three years of expenditure authority for these 50 positions, from 2024-25 to 2026-27, in the amount of $9.4 million from CPUC’s Utilities Reimbursement Account.
https://lao.ca.gov/Publications/Report/4934/governors-office-of-emergency-services

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - During the special session, the Legislature amended existing Control Section 5.25 and also added Control Section 5.26 to the 2024 ‑25 Budget Act , providing a total of up to $50  million one ‑time General Fund for legal and administrative activities that address federal actions impacting the state.
https://lao.ca.gov/Publications/Report/5079

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Of this amount, $50  million is to provide financing to the most underserved small businesses, including female owned, minority owned, and small businesses operated in low- to moderate-income tracts.
https://lao.ca.gov/Publications/Report/4452

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Our main forecast is intended to fall in the middle of possible outcomes, with a 50 ‑50 chance of revenues coming in higher or lower than our estimate. Given this, the fact that the breakeven point is close to but somewhat lower than our main forecast suggests there is a somewhat better than 50 ‑50 chance of the budget staying balanced over the outlook period.
https://lao.ca.gov/Publications/Report/4472