The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - It provides nonrefundable tax credits to companies in exchange for a commitment to increase employment and investment in the state over several years. More specifically, the objective of the program is to influence a business ’s decision to make investments in California that would have been made in another state, or not at all, absent the credit.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - Direct the administration to make any future adjustments needed to support the program without spending any money from the General Fund. Reduce CDTFA ’s General Fund appropriation by the amount of the department ’s annual General Fund spending on the Cannabis Tax Program (as these funds clearly are not needed).
https://lao.ca.gov/Publications/Report/5132

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - While such assessments are subjective, GO ‑Biz appears to make a good faith effort to fulfill this requirement. Businesses Must Meet Hiring and Investment Commitments. Successful applicants negotiate written agreements with GO ‑Biz that specify hiring and investment targets over a five ‑year period.
https://lao.ca.gov/Publications/Report/4327

The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - In addition, each applicant must propose to do one of the following: (1)  create 500 new full-time jobs, (2)  make an investment of at least $10  million, or (3)  create jobs or make an investment in a high-poverty or high-unemployment area.
https://lao.ca.gov/Publications/Report/5018

The 2024-25 Budget: Governor's Office of Business and Economic Development

Feb 20, 2024 - One key difference is the grant program’s focus on businesses making big investment promises, which has led it to make significantly larger awards to a smaller number of businesses. Given these differences, the grant program should be evaluated separately from the tax credit program.
https://lao.ca.gov/Publications/Report/4846

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - The state is prohibited from borrowing money to finance state operations. In most cases, voters must approve new bond authority before the state can raise the funds —a process that increases the amount of time between when the need for stimulus is identified and when any new spending may occur.
https://lao.ca.gov/Publications/Report/4331

Fixing Unemployment Insurance

Dec 2, 2024 - Repay the outstanding federal loan immediately by using new borrowing, split evenly between: (1) a revenue bond to be repaid by employers, and (2) Pooled Money Investment Account borrowing to be paid by the state ’s General Fund.
https://lao.ca.gov/Publications/Report/4943

The 2022-23 Budget: Governor’s Office of Business and Economic Development Proposals

Feb 11, 2022 - Immigration Integration Governor Proposes Package of Funding for Immigration and International Investment Programs. The Governor ’s budget includes $11.6  million General Fund, one time, in 2022 ‑23, and $500,000 annually thereafter, to support several GO ‑Biz functions related to international trade, investment, and economic development.
https://lao.ca.gov/Publications/Report/4529

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - In particular, state law directs our office to report on the annual state costs for new mandates and make recommendations to the Legislature as to whether the new mandates should be (1)  repealed (permanently eliminating it or making it optional), (2)  suspended (rendering it inoperative for one year), (3)  modified, or (4)  funded.
https://lao.ca.gov/Publications/Report/5130

The 2022-23 Budget: Fuel Tax Rates

Feb 11, 2022 - The 2021 federal Infrastructure Investment and Jobs Act will provide at least an additional $2  billion per year over five years for state and local transportation projects. Governor ’s Proposal Lower Fuel Tax Rates in 2022 ‑23.
https://lao.ca.gov/Publications/Report/4528