The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - Instead, our forecast includes income tax collections that are somewhat weaker than suggested by cash trends, but still tens of billions of dollars above where they would be if stocks actually drop significantly.
https://lao.ca.gov/Publications/Report/5091

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

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
https://lao.ca.gov/LAOEconTax/article/Detail/852

Increasing Oversight of the State Litigation Deposit Fund

Jan 28, 2021 - Litigation proceeds are deposited into the LDF in cases where the state is a party to the legal action and no other state statutes specifically provide for ( 1)  t he handling and investing of the money and ( 2)  h ow any earned interest is distributed.
https://lao.ca.gov/Publications/Report/4322

Home building and downpayment assistance. [Ballot]

Oct 6, 2025 - The requirements include being a resident of the state for at least one year, agreeing to occupy the home as a primary residence within 60 days of purchase, and having a family income of no more than 200  percent of the area median income (AMI). (100  percent of AMI represents the midpoint of a region 's income distribution, where half the population earns more and half earns less.)
https://lao.ca.gov/BallotAnalysis/Initiative/2025-013

Gaming. [Ballot]

Dec 18, 2023 - Banking games generally involve players betting against the “house, ” who is a participant in the game with an interest in the outcome, and percentage games generally involve the house receiving a percentage of the money involved in the game.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-030

Tribal gaming. [Ballot]

Dec 27, 2021 - Banking games generally involve players betting against the “house, ” who is a participant in the game with an interest in the outcome, and percentage games generally involve the house receiving a percentage of the money involved in the game.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-039

New tax on the wealth of billionaires. [Ballot]

Dec 11, 2025 - California billionaires, like all those earning money in the state, currently pay state taxes on their annual income. How billionaires respond to a new wealth tax could indirectly reduce their income tax payments.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-024

Property tax rules for inherited property. [Ballot]

Oct 22, 2025 - In some years, the state could face add itional cost pressures to provide money to schools to offset their revenue losses. Effects on County Administrative Costs. County governments administer the property tax.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-017

The 2024-25 Budget: CalWORKs

Mar 4, 2024 - LAO Assessment ESE Elimination May Impact Employment and Earnings of Some CalWORKs Recipients. As mentioned, about 1,240 individuals participated in ESE each month in 2022 ‑23. Additionally, ESE has helped some participants secure higher ‑paying employment.
https://lao.ca.gov/Publications/Report/4872