The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The stock market (S &P 500) has risen 50  percent in the last two years. Most of these gains come from the meteoric rise in the value of a handful of tech companies that investors believe will be major beneficiaries of recent advances in AI.
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

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - These funds are to be used primarily for last-mile project grants, although some funding may be used to build, lease, or purchase middle-mile infrastructure required by last-mile projects to provide broadband internet service.
https://lao.ca.gov/Publications/Report/4814

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Enhanced Federal Match for Home ‑ and Community ‑Based Services (HCBS). The ARP also included a temporary enhanced federal match rate for HCBS funded through the Medicaid program, which reduces the state ’s share of base program costs for these services by $3 billion.
https://lao.ca.gov/Publications/Report/4472

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Whereas California’s labor market has stagnated over the last two years, the S&P 500 stock index has appreciated roughly 50 percent over the same period. And most of this increase has come from skyrocketing share prices among a handful of firms associated with innovations in Artificial Intelligence (AI).
https://lao.ca.gov/Publications/Report/5104

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - (In this figure and throughout the report, some of the estimates cited here for the Governor ’s budget might not match estimates provided in our Overview of the Governor ’s Budget , published in January.
https://lao.ca.gov/Publications/Report/4769

Rethinking California's Reserve Policy [Publication Details]

Apr 10, 2025 - Over the last few years, the state has indeed experienced significant fluctuations—large surpluses followed by significant deficits. This volatility has prompted interest in changes to the state’s reserve policy.
https://lao.ca.gov/Publications/Detail/5028

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - Senate Bill 164 also directs CDT (and its third-party administrator) to work directly with last-mile project staff on planning and development of relevant middle-mile network segments to ensure their last-mile projects are supported.
https://lao.ca.gov/Publications/Report/4934

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - Senate Bill 164 also directs CDT (and its third-party administrator) to work directly with last-mile project staff on planning and development of relevant middle-mile network segments to ensure their last-mile projects are supported.
https://lao.ca.gov/Publications/Report/4934/governors-office-of-emergency-services

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - Assume Enhanced Federal Match for Medicaid Ends Midway Through 2022 ‑23. Medicaid is an entitlement program whose costs generally are shared between the federal government and states. In 2020, Congress approved a temporary 6.2  percentage point increase in the federal government ’s share of cost for most state Medicaid programs.
https://lao.ca.gov/Publications/Report/4646