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

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

Proposition 4 [Ballot]

Nov 5, 2024 - Fiscal Effects Increased State Costs of About $400  Million Annually for 40 Years to Repay the Bond. The estimated cost to repay the bond would be about $400  million annually over a 40-year period .
https://lao.ca.gov/BallotAnalysis/Proposition?number=4&year=2024

Limiting pay for administrators at hospitals and physician groups. [Ballot]

Sep 22, 2025 - There are over 400 hospitals in California. About half are nonprofits and another one-third are for-profits. The rest are owned by public entities, such as counties and special health care districts.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-009

The 2023-24 Budget: Department of Community Services and Development

Feb 9, 2023 - After the proposed reversion of $400  million in unspent CAPP funds, the Governor ’s budget proposal leaves $150  million remaining. The proposed $400  million reversion was estimated prior to the close of the 2022-23 CAPP application and disbursement period, and the administration retained a cushion for its January estimate in case of need.
https://lao.ca.gov/Publications/Report/4674

The 2024-25 Budget: Department of Justice

Feb 9, 2024 - . $400  Million Loan From LDF to General Fund. The 2023-24 budget included budget provisional language allowing the Department of Finance (DOF) to authorize an up to $400  million no-interest loan from the LDF to the General Fund to help address the state ’s budget problem.
https://lao.ca.gov/Publications/Report/4831

The 2026-27 Budget: Medi-Cal Analysis

Mar 2, 2026 - The total savings across all budget solutions is lower, with a $400  million reduction in savings in 2025 ‑26 and a $200  million net reduction in 2026 ‑27. The savings reductions are concentrated in a few solutions, with lower estimated savings from newly collected drug rebates (a $400  million total reduction in savings across 2025 ‑26 and 2026 ‑27) and the end
https://lao.ca.gov/Publications/Report/5146

The 2022-23 Budget: Cap-and-Trade Revenue Update

Apr 29, 2022 - This amount is similar to our base forecast and about $400 million higher than the Governor’s budget had assumed. The final quarterly auction in 2021-22 will occur on May 18 and results will be released on May 26.
https://lao.ca.gov/Publications/Report/4591

MOU Fiscal Analysis: Bargaining Unit 13 (Stationary Engineers)

Jun 24, 2022 - Eligible Unit 13 members who work for CDCR receive an allowance of $400 to pay for uniform requirements. The administration indicates that (1)  CDCR uniforms are required to be worn at all times and cost between $800 and $900 per year and (2)  the current $400 allowance was established in 2002.
https://lao.ca.gov/Publications/Report/4607