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

Apr 26, 2021 - Under the state ’s interpretation of the withdrawal rules in the case of a disaster, the state could withdraw any amount from either the optional or mandatory balance in 2020 ‑21. LAO Comments True Up Requirement for 2020 ‑21 Could Be Higher at May Revision.
https://lao.ca.gov/Publications/Report/4418

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Main Street Credit Legislature Created $100  Million Credit for Businesses Hurt by Pandemic in 2020. In September 2020, the Legislature instituted the Main Street Small Business Tax Credit, which provides income or sales tax credits to firms with 100 or fewer employees that added jobs in the second half of 2020.
https://lao.ca.gov/Publications/Report/4452

The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - Compared with the estimates in the June 2020 budget plan, the administration revises its estimates of the guarantee up $1.9  billion (2.4  percent) in 2019 ‑20 and $11.9  billion (16.8  percent) in 2020 ‑21.
https://lao.ca.gov/Publications/Report/4309

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - CalSTRS Experienced 27.2 Percent Investment Returns in 2020 ‑21. CalSTRS ’ next actuarial valuation —reflecting 2020 ‑21 investment returns, payroll growth, and other factors impacting CalSTRS ’ unfunded liabilities and required contribution rates —will not be available until the spring of 2022, and CalSTRS will set required contribution rates for 2022 ‑23 at that time.
https://lao.ca.gov/Publications/Report/4472

The 2022-23 California Spending Plan: The State Appropriations Limit

Sep 30, 2022 - The final budget package does not reflect excess revenues across 2020-21 and 2021-22, nor does it include any unaddressed SAL requirements for 2022-23. In particular, as of July 2022, the administration estimates 2020-21 ended with appropriations subject to the limit above the limit by $16  billion.
https://lao.ca.gov/Publications/Report/4631

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 2021-22 California Spending Plan: The State Appropriations Limit

Aug 30, 2021 - (In this case, across 2020 ‑21 and 2021 ‑22.) May Revision. By the time of the May Revision, estimates of total revenues across the budget window had increased dramatically. Under the administration ’s estimates, the state had $16.2  billion in excess revenues across 2020 ‑21 and 2021 ‑22.
https://lao.ca.gov/Publications/Report/4449

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

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

Jan 29, 2021 - This language was included in both the 2019 ‑20 and 2020 ‑ 21 b udget acts. How the Suspensions Work. Current law empowers the Department of Finance (DOF) to administer the suspension calculation. The formula is shown in Figure  1 .
https://lao.ca.gov/Publications/Report/4328

Flexible Funding to California in the American Rescue Plan

Mar 23, 2021 - The state is not expected to experience a reduction in General Fund revenue in 2020-21 or 2021-22 compared to 2018-19 (the baseline revenue year in the ARP). Specifically, General Fund revenues (excluding constitutional reserve deposits) were $143  billion in 2018-19, while comparable revenues for 2020-21 and 2021-22 currently are estimated to be $158  billion and $161  billion, respectively.
https://lao.ca.gov/Publications/Report/4407