Online sports wagering. [Ballot]

Oct 20, 2021 - Authorizes Actions Against Illegal Online Sports Wagering. The measure imposes a 15  percent tax on people in California who illegally make online sports wagers. This tax is applied to the amount a person bets.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-017

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - There are three reasons these actions are now critical. First, the budget problem is now larger than anticipated, despite improvements in revenue, and the structural deficits are significant and growing.
https://lao.ca.gov/Publications/Report/5091

Gaming. [Ballot]

Dec 18, 2023 - For example, regulatory agencies can revoke gaming licenses or levy fines through administrative proceedings or through civil actions p ursued in the state trial courts. At the same time, CA DOJ, county district attorneys, and city attorneys can pursue criminal actions seeking fines or convictions for violations of the state ’s gaming laws.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-030

Tribal gaming. [Ballot]

Dec 27, 2021 - For example, regulatory agencies can revoke gaming licenses or levy fines through administrative proceedings or through civil actions p ursued in the state trial courts. At the same time, DOJ, county district attorneys, and city attorneys can pursue criminal actions seeking fines or convictions for violations of th e state ’s gaming laws.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-039

Sports wagering. [Ballot]

Dec 18, 2023 - At minimum, these regulations must limit wagering to (1) bets made by people age of 21 and older; (2) professional or college sporting events that do not include animals other than horses; and (3) amateu r sporting events that do not include children under the age of 18.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-031

An Update on California Competes [EconTax Blog]

Mar 10, 2023 - One potential interpretation is that the state is making high risk-high reward bets on businesses. While many of these bets do not pan out, the ones that do can be successful enough to yield overall benefits for the state.
https://lao.ca.gov/LAOEconTax/Article/Detail/771

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

Mar 9, 2026 - This Time Might Be Different, but It Is Not Safe to Bet on It.   As our office warned last November, it now appears time to take seriously the notion that the stock market has become overheated. While there is a chance that this time is different and no such downturn is forthcoming, the risk appears strong enough that we have incorporated it into the state 's revenue outlook.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - This Time Might Be Different, but It Is Not Safe to Bet on It.   As our office warned last November, it now appears time to take seriously the notion that the stock market has become overheated. While there is a chance that this time is different and no such downturn is forthcoming, the risk appears strong enough that we have incorporated it into the state 's revenue outlook.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

California gaming activities. [Ballot]

Oct 1, 2021 - For example, regulatory agencies can revoke gaming licenses or levy fines through administrative proceedings or through civil actions pursued in the state trial courts. At the same time, DOJ, county district attorneys, and city attorneys can pursue criminal actions seeking fines or convictions for violations of the state ’s gaming laws.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-009

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101