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

Homeownership affordability. [Ballot]

Oct 27, 2023 - (Under current law, fees to mitigate the im pact of traffic are often calculated based on vehicle miles traveled —an estimate of the total additional miles driven by all drivers in the area as a result of the project.)
https://lao.ca.gov/BallotAnalysis/Initiative/2023-025

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 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - One notable outlier to this pattern is a report from the Los Angeles County Economic Development Corporation, who cla im to find a small fiscal benefit associated with the film tax credit. The Los Angeles County Economic Development Corporation estimates, however, very likely are overstated.
https://lao.ca.gov/Publications/Report/5000

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

The 2023-24 California Spending Plan: Human Services

Nov 6, 2023 - As part of im plementing AB  2083, beginning in 2019-20, the state provided funding to the Department of Developmental Services for 15 staff specifically to coordinate with other local and state agencies serving foster youth with qualifying developmental disabilities who are served by regional centers.
https://lao.ca.gov/Publications/Report/4812/4

Assessing California's Climate Policies—The 2022 Scoping Plan Update

Jan 4, 2023 - The lack of specific direction means that state departments will need to spend additional time and effort to identify and evaluate what policy changes will be required to achieve the intended outcomes before they can even begin the process of adopting and im plementing those changes.
https://lao.ca.gov/Publications/Report/4656

Comparing CalWORKs Take-Up Rates Across Demographic Groups

Feb 14, 2023 - Although we have attempted to account for each of these factors, such adjustments are im perfect. To  account for the effect of sanctions and lifetime limits, we used administrative data on CalWORKs ‑enrolled families in which only the children are eligible for aid to estimate the corresponding number of ineligible parents.
https://lao.ca.gov/Publications/Report/4678