The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - The Governor ’s budget also maintains a $7  billion withdrawal from the BSA in 2025-26. If a May Revision windfall exceeds the amount needed to fund the true up, we recommend the Legislature use those resources to reduce the size of this withdrawal.
https://lao.ca.gov/Publications/Report/5133

Overview of Major Impacts of H.R. 1 – One Big Beautiful Bill Act [Publication Details]

Aug 20, 2025 - Assembly Budget Subcommittee No. 7 on Accountability and Oversight
https://lao.ca.gov/Publications/Detail/5067

The 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - There are common provisions among all of the agreements that include: Ending Personal Leave Program (PLP) 2020. The agreements ended PLP 2020. As such, employees no longer ( 1) h ave their pay reduced or ( 2) r eceive PLP 2020 l eave each month.
https://lao.ca.gov/Publications/Report/4448

Rethinking California’s Reserve Policy (Panel 2) [Publication Details]

May 7, 2025 - Assembly Budget Subcommittee No. 7 on Accountability and Oversight
https://lao.ca.gov/Publications/Detail/5041

Reserves, Proposition 2, and the Budget Stabilization Account (Panel 1) [Publication Details]

May 7, 2025 - Assembly Budget Subcommittee No. 7 on Accountability and Oversight
https://lao.ca.gov/Publications/Detail/5040

The 2021-22 Budget: The Governor’s Suspension Proposal

Jan 29, 2021 - Under its own revenue forecast, assuming the suspensions were operative, the administration estimates operating deficits would grow from $7. 6  b illion in 2022 ‑ 23 t o $11. 3  b illion in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4328

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - Put another way, $12  billion  of spending in the May Revision is attributable to reserve withdrawals and borrowing from 2020 (see Figure  7). Figure 7 Governor Still Uses Budget Solutions Despite Historic Revenue Growth Budget Solutions From 2020 Maintained in 2021 May Revision (In Billions) Reserve Withdrawals Make Budget Stabilization Account withdrawal $7.8 Make Safety Net Reserve withdrawal 0.5
https://lao.ca.gov/Publications/Report/4432

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - However, CalSTRS announced after the close of the 2020 ‑21 fiscal year that the system ’s assets returned 27.2 percent in that year. This investment return experience is well above CalSTRS ’ assumed annual rate of 7 percent.
https://lao.ca.gov/Publications/Report/4472

The 2022-23 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 17, 2021 - Baseline costs grow more quickly in this scenario, reducing the amount available for new commitments to about $7 billion in 2023 ‑24 and about $9 billion in 2025 ‑26. Under Mild Economic Downturn, State Could Cover Existing Commitments Only.
https://lao.ca.gov/Publications/Report/4473

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - This is a net increase of $11  million (7  percent) from the revised 2023-24 level. We identify some of the major actions taken in the 2024-25 budget process below. California Consumer Financial Protection Law (CCFPL).
https://lao.ca.gov/Publications/Report/4934