The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - The Governor ’s budget proposes to extend the California Competes Tax Credit program in its current form for an additional five years through fiscal year 2032-33. Analysis Program Trends Award Characteristics Have Changed Over Time.
https://lao.ca.gov/Publications/Report/5162

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - Allocations in the 2025-26 budget included $13  million in 2025-26 for the OES California Wildfire Mitigation Grant Program, which provides financial assistance for wildfire resilience renovations. The budget reflects a corresponding reduction of $13  million General Fund that had originally been budgeted for the program in 2024-25.
https://lao.ca.gov/Publications/Report/5081

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - The California Constitution requires the state to reimburse local governments when (1)  new state laws or regulations mandate that they implement a new program or higher level of service and (2)  the local government does not have offsetting revenues available to fully cover the associated costs.
https://lao.ca.gov/Publications/Report/5130

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - Assembly Bill  573 requires our office to publish a report on tobacco retail enforcement by December 1, 2027. If this could lead to budget adjustments, the Legislature may wish to schedule some of the proposed funding to expire after 2027 ‑28.
https://lao.ca.gov/Publications/Report/5132

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - Proposition   63 o f 2004 e stablished a 1  p ercent surcharge (part of the 13. 3  p ercent top PIT rate) on incomes above $ 1  m illion. The proceeds from this surcharge are deposited in the Mental Health Services Fund (MHSF) and used to fund local mental health programs.
https://lao.ca.gov/Publications/Report/4327

Annual Report on Tax Exemptions for Medicinal Cannabis

Jun 13, 2024 - As shown in Figure  1, licensees donated a wide variety of products in 2023. Figure 1 Amounts of Products Donated Under SB 34 Exemption in 2023 Product
https://lao.ca.gov/Publications/Report/4912

The 2023-24 Budget: California's Film Tax Credit

Feb 28, 2023 - Specifically, a taxpayer may receive a refund equal to the lesser of: (1)  18  percent of the credit or (2)  90  percent of the portion of the credit exceeding their tax liability. A taxpayer electing to receive such a refund would forfeit a portion of their credit equal to the lesser of: (1)  2  percent of the credit or (2)  10  percent of the portion of the credit exceeding their tax liability.
https://lao.ca.gov/Publications/Report/4713

The 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - Taxpayers may only elect to make 90  percent of their total credit allocation refundable, and the use of such credits must be spread across the five taxable years beginning with the year of election.
https://lao.ca.gov/Publications/Report/5000

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - Since the Governor ’s proposal would provide $60  million for grants, compared to $120  million in prior iterations, the cap on individual awards would be $18  million, down from $36  million. There have been several grant awards made previously in excess of this amount.
https://lao.ca.gov/Publications/Report/5018

The 2022-23 Budget: Fuel Price and Other Fiscal Relief Options

May 12, 2022 - The Governor proposes a one ‑year reduction in the diesel sales tax from 13  percent to roughly 9  percent. The administration estimates that the resulting revenue loss to the state in the budget  year would be  up to $600   million.
https://lao.ca.gov/Publications/Report/4597