How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: Governor’s Sustainable Aviation Fuel Tax Credit Proposal

Feb 24, 2026 - Additionally, the administration projects the credit could grow over time, potentially reaching about $300  million annually —nearly doubling the reductions and corresponding fiscal and programmatic impacts.
https://lao.ca.gov/Publications/Report/5139

Housing assistance program for certain University of California employees. [Ballot]

Oct 27, 2025 - In 2022-23, UC ’s program provided 300 home loans totaling $296  million (for an average home loan of about $1  million). The loans generally cover 90  percent of the home purchase price, with the borrower making a down payment of 10  percent (rather than the more typical 20  percent).
https://lao.ca.gov/BallotAnalysis/Initiative/2025-018

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - The administration estimates that implementing the Tiered Rate Structure will cost more than $300  million General Fund in 2027-28, $500  million in 2028-29, and $700  million General Fund in 2029-30 (with some potential growth thereafter and ongoing).
https://lao.ca.gov/publications/report/5147

The 2026-27 Budget: Supplemental Security Income/State Supplementary Payment (SSI/SSP) Program

Mar 3, 2026 - Statute required the Department of Finance to estimate what percentage grant increase could be supported by a half-year cost of $291  million in 2021-22 (estimated to be about $580  million in 2022-23), a half-year cost of $150  million in 2022-23 (estimated to be about $300  million in 2023-24), and a half-year cost of $146  million in 2023-24 (estimated to be about $292  million in 2024-25).
https://lao.ca.gov/Publications/Report/5148

The 2025-26 California Spending Plan: Proposition 4

Oct 16, 2025 - To help address the state ’s budget deficit, the Governor proposed reducing about $300  million from nine prior General Fund appropriations for environmental programs and providing at least as much funding from Proposition  4 for similar activities.
https://lao.ca.gov/Publications/Report/5076

Major Higher Education Budget Developments [EdBudget]

Nov 12, 2025 - Reappropriates more than $300 million in unspent funds from various programs in previous years to support CCC apportionment costs. Proposes to lessen the base reductions for CSU and UC to 3 percent. Proposes $77 million augmentation for MCS in 2024-25 in response to a large increase in recipients.
https://lao.ca.gov/Education/EdBudget/Details/1024

Major Higher Education Budget Developments [EdBudget]

Nov 5, 2025 - Reappropriates more than $300 million in unspent funds from various programs in previous years to support CCC apportionment costs. Proposes to lessen the base reductions for CSU and UC to 3 percent. Proposes $77 million augmentation for MCS in 2024-25 in response to a large increase in recipients.
https://lao.ca.gov/Education/EdBudget/Details/992

The 2026-27 Budget: In-Home Supportive Services

Mar 18, 2026 - As seen in Figure  7 , the 2019 IHSS MOE reduced the base county costs in 2019 ‑20 to roughly $1.6  billion, decreasing IHSS county costs by roughly $300  million relative to 2018 ‑19. The 2019 IHSS MOE was also set to increase annually by (1)  the counties ’ share of costs from locally negotiated wage increases and (2)  an annual adjustment factor of  4  percent.
https://lao.ca.gov/Publications/Report/5166