The 2020-21 Budget: Structuring the Budget

Feb 10, 2020 - Proposition  2 (201 4) a ims to insulate the budget from revenue declines in several ways. In particular, it sets aside monies —including from capital gains, one of the most volatile components of state revenues —and dedicates them to budget reserves and debt payments.
https://lao.ca.gov/Publications/Report/4150