How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
https://lao.ca.gov/LAOEconTax/article/Detail/852

Increasing Oversight of the State Litigation Deposit Fund

Jan 28, 2021 - Litigation proceeds are deposited into the LDF in cases where the state is a party to the legal action and no other state statutes specifically provide for ( 1)  t he handling and investing of the money and ( 2)  h ow any earned interest is distributed.
https://lao.ca.gov/Publications/Report/4322

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Outside of government and health care, the state has added no jobs in a year and a half. Similarly, the number of Californians who are unemployed is 25  percent higher than during the strong labor markets of 2019 and 2022.
https://lao.ca.gov/Publications/Report/4939

Proposition 4 [Ballot]

Nov 5, 2024 - Much of this money would pay for activities focused on protecting communities from extreme heat ($200  million). These activities could include adding trees and greenspaces. Money would also support places for people to go during heatwaves or disasters ($100  million).
https://lao.ca.gov/BallotAnalysis/Proposition?number=4&year=2024

Gaming. [Ballot]

Dec 18, 2023 - Banking games generally involve players betting against the “house, ” who is a participant in the game with an interest in the outcome, and percentage games generally involve the house receiving a percentage of the money involved in the game.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-030

Tribal gaming. [Ballot]

Dec 27, 2021 - Banking games generally involve players betting against the “house, ” who is a participant in the game with an interest in the outcome, and percentage games generally involve the house receiving a percentage of the money involved in the game.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-039

New tax on the wealth of billionaires. [Ballot]

Dec 11, 2025 - California billionaires, like all those earning money in the state, currently pay state taxes on their annual income. How billionaires respond to a new wealth tax could indirectly reduce their income tax payments.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-024

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The 2026-27 Budget: California's Fiscal Outlook Executive Summary Not Safe to Bet Artificial Intelligence ( AI) Fueled Exuberance Is Sustainable. Both the California and U.S. economies currently face significant headwinds.
https://lao.ca.gov/Publications/Report/5091

Online sports wagering. [Ballot]

Oct 20, 2021 - This tax is applied to the amount a person bets. Additionally, the measure authorizes DOSBC to take va rious enforcement actions, including requiring people making such bets to register with DOSBC, requiring entities illegally offering online sports wagering to disclose the names of people who make wagers with them, and blocking access to illegal sites accepting sports wagers.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-017