The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Unlike reserve deposits, which can be suspended in response to a budget emergency, Proposition  2 ‑related debt payments are required every year until 2029 ‑30. (Thereafter, these debt payments become optional, but amounts not spent on debt must be deposited into the rainy ‑day reserve.)
https://lao.ca.gov/Publications/Report/4887

The 2026-27 Budget: Community College Facilities

Mar 17, 2026 - As Figure  2 shows, the Governor proposes to fund all ten projects selected by the Chancellor ’s Office. The Governor ’s budget includes $28  million Proposition  2 bond funds for the preliminary plans and working drawings phases of these projects.
https://lao.ca.gov/Publications/Report/5159

The 2026-27 Budget: Community College Facilities [Publication Details]

Mar 17, 2026 - This post assesses the Governor’s proposals to fund the second batch of community college capital outlay projects under Proposition 2, an education facilities bond.
https://lao.ca.gov/Publications/Detail/5159

Unit 2 (Attorneys) MOU Analysis [Publication Details]

Aug 25, 2022 - Unit 2 (Attorneys) MOU Analysis [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4619

Unit 2 (Attorneys) MOU Analysis

Aug 25, 2022 - The current MOU increased this cap by 192 hours through June 30, 2024. The 192 hours is equivalent to the number of Personal Leave Program 2020 (PLP 2020) hours Unit 2 members received. The proposed agreement would revert to the 640-hour leave cap effective January 1, 2024 —six months earlier than required by the current MOU.
https://lao.ca.gov/Publications/Report/4619

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Proposition  2 requires the state to spend a minimum amount each year to pay down specified debts through 2029 ‑30. When Proposition  2 was passed by the voters, there were two major categories of liabilities eligible for repayment using these monies: certain budgetary liabilities and retirement liabilities.
https://lao.ca.gov/Publications/Report/4418

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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
https://lao.ca.gov/LAOEconTax/article/Detail/852

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Throughout the mid-to-late 1990s, the stock market boomed over optimism around the Internet and dot-com start-ups. Strong tax revenue trends from this boom generated large budget surpluses that ultimately gave way to serious deficits once the bubble burst and PIT revenues declined nearly 30  percent.
https://lao.ca.gov/Publications/Report/5104

The 2025-26 Budget: Community College Facilities [Publication Details]

Mar 18, 2025 - This post assesses the Governor’s proposals to fund community college capital outlay projects under Proposition 2, the new education facilities bond.
https://lao.ca.gov/Publications/Detail/5017