The 2025-26 Budget: Update on Implementation of New Firearm and Ammunition Tax

Feb 19, 2025 - For example, the 2024-25 budget eliminated $9  million in General Fund support for CalVIP beginning in 2025-26 due to the anticipation of GVPSS Fund monies being available to support the program instead.
https://lao.ca.gov/Publications/Report/4970

Fixing Unemployment Insurance

Dec 2, 2024 - For example, if California had entered the pandemic with equivalently sized reserves, it still would have required a federal loan, but that loan would have reached $9  billion, rather than $20  billion.
https://lao.ca.gov/Publications/Report/4943

The 2022-23 Budget: Fuel Price and Other Fiscal Relief Options

May 12, 2022 - The administration estimates this proposal would have an associated General Fund cost of roughly $9  billion, but the actual cost would depend on what vehicle value threshold is established for providing refunds.
https://lao.ca.gov/Publications/Report/4597

The 2022-23 Budget: Federal Tax Conformity for Federal Business Assistance

Jan 26, 2022 - As of January 9, 2022, about 85 percent of the PPP loans nationwide have been forgiven. Restaurant Revitalization Fund (RRF). The RRF program was created in March 2021 to make grants to eligible restaurants, caterers, and bars that experienced a decline in revenue during the pandemic.
https://lao.ca.gov/Publications/Report/4501

The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision Eliminate step ‑up on inherited assets 120 Eliminate first ‑year exemption from minimum franchise tax 60 Eliminate sales tax exemption for magazine subscriptions 9 DOF = Department of Finance and NOL = net operating loss.
https://lao.ca.gov/Publications/Report/4238

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Reflecting the administration ’s revised revenue estimates, the Governor ’s budget proposal provides an additional $ 575  m illion General Fund to schools and community colleges (relative to June 201 9) f or 2018 ‑19 and 2019 ‑20.
https://lao.ca.gov/Publications/Report/4135

The 2023-24 Budget: Considering Inflation's Effects on State Programs

Nov 16, 2022 - For example, by 2026, annual inflation levels ranging from 2 percent to 9 percent are plausible. Key factors contributing to the current uncertainty include the degree to which businesses and workers begin to expect heightened inflation in future years, the degree to which actions by the Federal R eserve to reduce inflation are successful, and changes in geopolitical events affecting food and energy prices.
https://lao.ca.gov/Publications/Report/4647

The 2020-21 Budget: Expanding the Minimum Franchise Tax Exemption

Mar 23, 2020 - This assumption is based on a 9  p ercent annual rate of growth in the formation of new LLCs. This assumption may be reasonable, given the amount of uncertainty regarding the future rate of business formations, but it is somewhat faster than the historical average of 7  p ercent.
https://lao.ca.gov/Publications/Report/4207

An Update on California’s Cash Management Situation

Aug 31, 2020 - In particular, the April letter projected the cash cushion could diminish to roughly $9  billion by the end of the fiscal year. In response, the Governor authorized the Controller to open the General Cash Revolving Fund, which allows the state to issue Revenue Anticipation Warrants —a form of cash borrowing that is relatively unusual and typically only required when the state is facing more substantial cash deficits.
https://lao.ca.gov/Publications/Report/4266

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - The current debt ‑service ratio of 4. 1  p ercent in 2020 ‑ 21 i s somewhat below the historical average of 4. 9  p ercent in the ten prior years, and well below the peak of 6  p ercent in 2009 ‑10. Does the Proposal Have Other Strong Policy Justifications?
https://lao.ca.gov/Publications/Report/4331