California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Appendix 4, Figure 5 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Other General Fund (In millions) Broadband infrastructure —last ‑mile projects $253 Broadband infrastructure —Broadband Loan Loss Reserve Fund 175 Establish new office of public outreach 65 Note: Includes augmentations above $50 million CPUC = California Public Utilities Commission and OPR = Office of Planning and Research.
https://lao.ca.gov/Publications/Report/4788/4

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - The budget package also includes $94 million in one‑time General Fund for flood prevention activities, $65 million in one‑time GGRF for projects at the Salton Sea, and roughly $45 million in ongoing General Fund to make recent temporary expansions of CalFire hand crews permanent.
https://lao.ca.gov/Publications/Report/4922

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

Oct 27, 2021 - In addition, 65 p ercent of funding in 2021 ‑ 22 i s federal, while 35 p ercent is state funding. Some of the major uses of housing and homelessness funding in the budget would support the Homekey Program ’s acquisition of properties for use as permanent housing, provide flexible aid to local governments to address homelessness in their communities, provide funding to address the
https://lao.ca.gov/Publications/Report/4448

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - The budget assumes that these provisions will increase state costs in 2023-24 by $397  million ($65  million General Fund). For more information about these new MOUs, refer to our State Workforce webpages.
https://lao.ca.gov/Publications/Report/4814

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Of the $65  million in additional ETP grant funding, $15  million is to be directed at training programs that align with California Community College workforce training programs. Various Smaller Proposals.
https://lao.ca.gov/Publications/Report/4452

The 2024-25 Budget: Proposition 2 Debt Payment Proposals

Mar 20, 2024 - Of this total, about 20  percent have been devoted to prefunding retiree health benefits and 65  percent, nearly $7  billion, have been used for supplemental pension payments to reduce the state ’s unfunded liabilities associated with CalPERS.
https://lao.ca.gov/Publications/Report/4887

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028