California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The Internet obviously has been a transformative innovation for society and the economy, but early on, financial markets valued dot-com and Internet firms above what their revenue-generating capacity warranted at the time.
https://lao.ca.gov/Publications/Report/5104

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 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - (The multiyear spending agreement anticipates additional appropriations totaling $ 950 m illion General Fund over 2022 ‑23 and 2023 ‑24 for CPUC to provide last ‑mile project grants.) $ 50 m illion General Fund to CPUC to operate a “loan loss reserve fund ” to help local entities and nonprofit organizations obtain financing for their broadband internet service projects.
https://lao.ca.gov/Publications/Report/4448

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Chapter 45 of 2023 (AB 127, Committee on Budget) creates the State Middle-Mile Broadband Enterprise Fund to receive fees from internet service providers, government entities, and other users of the middle-mile network.
https://lao.ca.gov/Publications/Report/4814

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - In addition, Visit California is required to post on its internet website financial reports that it currently shares only with assessed tourism industry businesses. Office of the Small Business Advocate Financial Relief for Small Businesses and Nonprofits.
https://lao.ca.gov/Publications/Report/4452

The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - Examples include purchasing devices and internet connectivity for distance learning, cleaning and reconfiguring facilities, training teachers, and testing for the virus. However, the 2020 ‑21 budget allocated more than $7  billion in state and federal funds to address COVID-19-related costs and mitigate learning loss.
https://lao.ca.gov/Publications/Report/4309