The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - These companies have made big bets on AI, spending hundreds of billions of dollars on data centers and offering extraordinary pay packages to recruit AI researchers. This spending, coupled with sizable gains to investors and tech company employees via stock options, is boosting state income tax receipts.
https://lao.ca.gov/Publications/Report/5091

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

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

Apr 19, 2023 - Recent stress in the banking sector illustrates the point and even if the turmoil largely has subsided, these events could potentially contribute to more constrained credit conditions. In addition to gauging the risk of recession, the type of recession that could unfold, if there is one, will matter.
https://lao.ca.gov/Publications/Report/4762

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

Oct 27, 2021 - Human Services: Discretionary Spending Proposals in the 2021 ‑22 Budget Package General Fund (In Millions) Expand APS to older adults aged 60 and over and enhance services — Fund county costs associated with CalFresh simplifcations — Augment CFAP monthly benefits to their maximum per household size $24 Expand CFAP benefits to some previously ineligible immigrants — Augment CFAP benefits by 15
https://lao.ca.gov/Publications/Report/4448/1

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

Oct 16, 2023 - CalFire = California Department of Forestry and Fire Protection; CARB = California Air Resources Board; FARMER = Funding Agricultural Replacement Measures for Emission Reductions; CEC = California Energy Commission; Go ‑Biz = Governor ’s Office of Business and Economic Development; DOC = Department of Conservation; DTSC = Department of Toxic Substances Control; DWR = Department of Water
https://lao.ca.gov/Publications/Report/4788/4

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Chapter 53 of 2023 (SB 124, Committee on Budget and Fiscal Review) Green Bank Financing. Authorizes I ‑Bank to spend future federal funding that the state might receive through the Climate Catalyst Revolving Loan Fund program.
https://lao.ca.gov/Publications/Report/4814

Rethinking California's Reserve Policy

Apr 10, 2025 - Two Options to Reach This Higher Threshold. If the cap is raised, the state would also need to set aside more in reserve deposits to dependably reach this higher amount. There are many options for doing this, but given the volatility in the state ’s revenues, we think it is important to set aside much more funds in years when revenues are surging , rather than setting aside somewhat more in every year.
https://lao.ca.gov/Publications/Report/5028

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - Solving the Budget Problem State Has Various Options to Address the Budget Problem. While addressing a deficit of $68  billion will be challenging, the Legislature has a number of options available to do so.
https://lao.ca.gov/Publications/Report/4819

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

Apr 26, 2021 - The budget included a withdrawal of $4.7  billion from the state ’s mandatory BSA balance and $3.1  billion from the state ’s optional BSA balances. The nearby box describes the BSA “optional balance ” in more detail.
https://lao.ca.gov/Publications/Report/4418

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - Options Possibly Available to Reduce One-Time and Temporary Spending State Allocated Large Shares of Surpluses to Temporary Purposes, Although Some Has Been Disbursed or Already Proposed for Reduction.
https://lao.ca.gov/Publications/Report/4850