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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: Department of Justice

Feb 11, 2026 - A large portion of the General Fund support is used to support the Armed and Prohibited Persons System (APPS) enforcement teams, which seize firearms from people prohibited from owning or possessing them.
https://lao.ca.gov/Publications/Report/5118

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

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

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

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

The 2025-26 Budget: California Department of Corrections and Rehabilitation

Feb 25, 2025 - These include cases in which people receive time added to their sentence for selling high volumes of illegal drugs, being armed with a firearm during the commission of a drug felony, or selling drugs to a person who suffers significant physical injury as a result of using the drug.
https://lao.ca.gov/Publications/Report/4986

The 2025-26 Budget: Department of Justice

Feb 19, 2025 - Most of the General Fund is used to support the Armed and Prohibited Persons System (APPS) enforcement teams, which seize firearms from individuals prohibited from owning or possessing them. This has been the case since 2019 ‑20 when the budget package shifted full support of these teams over to the General  Fund.
https://lao.ca.gov/Publications/Report/4972

The 2025-26 Budget: Partial Income Tax Exclusion for Military Retirement Income [EconTax Blog]

Feb 13, 2025 - The United States Armed Services offer retirement pension benefits to servicemembers who complete 20 years of service. In retirement, eligible members receive 2  percent to 3  percent of the member ’s highest salary for each year of service they completed.
https://lao.ca.gov/LAOEconTax/Article/Detail/820