The 2022-23 Budget: The Governor's Housing Plan

Feb 14, 2022 - State Low Income Housing Tax Credits Background State Low ‑Income Housing Tax Credit Program. The state Low ‑Income Housing Tax Credit Program provides tax credits to builders of rental housing affordable to low ‑income households.
https://lao.ca.gov/Publications/Report/4535

An Initial Look at Effects of the COVID-19 Pandemic on Local Government Fiscal Condition

May 12, 2021 - Significant Reliance on Sales Tax Revenue. Many cities rely on sales tax revenue as a major revenue source for their budget. In the case of the 24 c ities most reliant on sales tax (the top 5 p ercent), sales and use tax collections in 2018 ‑ 19 c onstituted between 31 p ercent and 70 p ercent of total local revenues.
https://lao.ca.gov/Publications/Report/4428

SB 1 Has Doubled Major Source of State Funding for Local Streets and Roads

Jan 24, 2020 - SB 1 Provides More Shared Revenues for Local Streets and Roads Increased Fuel Taxes and New Vehicle Fees. Among other changes, SB  1 increased existing fuel taxes and created two new vehicle fees. Three of the fuel tax increases went into effect on November 1, 2017 and include a (1)  12 cent per gallon increase to the gasoline excise
https://lao.ca.gov/Publications/Report/4142

The 2019-20 Budget: California Spending Plan—Housing and Homelessness

Oct 17, 2019 - Expanded Low-Income Housing Tax Credit. The budget package increases by $500  million the state ’s low-income housing tax credit program which provides tax credits to builders of rental housing affordable to low-income households.
https://lao.ca.gov/Publications/Report/4102

The 2019-20 May Revision: Opportunity Zones [Publication Details]

May 11, 2019 - The Governor proposes to allow state tax benefits for investments in alternative energy or affordable housing in communities designated as Opportunity Zones under a new federal program.
https://lao.ca.gov/Publications/Detail/4038

The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - At the same time, federal tax law typically influences people ’s choices more than state tax law because federal tax rates are higher. This means that at least some of the investment receiving California tax benefits would happen anyway in response to the federal tax benefit.
https://lao.ca.gov/Publications/Report/4038

Housing and Homelessness Funding Impacting Children

Mar 25, 2019 - Earned Income Tax Credit. A state and federal income tax credit for low ‑income working families and individuals, which reduces the tax amount owed by the tax ‑filer and, in some cases, may provide eligible filers with a refundable income amount.
https://lao.ca.gov/Publications/Report/3985

The 2019-20 Budget: Considerations for Governor's Proposals to Address Homelessness

Feb 21, 2019 - Voter approval of Proposition   2 i n 2018 authorized the use of funds from the Mental Health Services Act, which taxes income above $ 1  m illion, for No Place Like Home (NPLH). The Legislature created NPLH in 2016 t o build and rehabilitate permanent supportive housing for those with mental illness who are homeless or at ‑risk of becoming homeless.
https://lao.ca.gov/Publications/Report/3942

The 2019-20 Budget: Considerations for the Governor's Housing Plan [Publication Details]

Feb 20, 2019 - In this report, we describe the Governor’s proposed $1.75 billion appropriation for various programs aimed at improving the affordability of housing in the state.
https://lao.ca.gov/Publications/Detail/3941

The 2019-20 Budget: What Can Be Done to Improve Local Planning for Housing?

Feb 20, 2019 - One approach the Legislature could consider to alleviate this concern is to alter the allocation of local government tax revenues—particularly property or sales taxes—so that these allocations better reflect population growth.
https://lao.ca.gov/Publications/Report/3938