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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Jun 27, 2025 - Since the 1990s, the costs for this benefit have been among the fastes t growing costs in the state budget. Between 2000-01 and 2024-25, the state ’s inflation-adjusted General Fund pay-as-you-go cost towards these benefits increased by more than 250  percent to $2.8  billion.
https://lao.ca.gov/Publications/Report/5061

Nonreporting Entities' Information Security Compliance

Mar 30, 2023 - The latest revision to NIST SP 800 ‑53 is Revision 5. As with FIPS, reporting entities follow many state IS policies, procedures, and standards based on NIST SP 800 ‑53, while nonreporting entities are required by A B  2135 to follow Revision 5 of NIST SP  800 ‑53  and all successor publications.
https://lao.ca.gov/Publications/Report/4756

Tribal gaming. [Ballot]

Dec 27, 2021 - This is because a federal court previously determined that the payments required by certain tribal-state com pacts into the state ’s General Fund for use at the state ’s discretion generally were an illegal tax prohibited under federal law.
https://lao.ca.gov/BallotAnalysis/Initiative/2021-039

New Higher Education Reporting Requirements [EdBudget]

Oct 3, 2022 - TBL refers to trailer bill language contained in Chapter 53 of 2022 (AB 182, Committee on Budget), Chapter 54 of 2022 (AB 183, Committee on Budget and Fiscal Review), or Chapter 572 of 2022 (AB 190, Committee on Budget).
https://lao.ca.gov/Education/EdBudget/Details/622

MOU Fiscal Analysis: Bargaining Unit 12 (Craft and Maintenance)

Jun 27, 2025 - In addition, sharing the funding cost with state employees likely strengthens any argument that the benefit is protected under the State Constitution, potentially preventing the Legislature from reducing or modifying the benefit in t he future.
https://lao.ca.gov/Publications/Report/5060

2022-23 Fiscal Outlook Revenue Estimates [EconTax Blog]

Nov 17, 2021 - We aim to have a forecast that reflects multiple possibilities, including: (1) high levels of sales persisting for a long time; (2) sales declining all the way back to the prior trend; (3) a range of outcomes in between those t wo extremes.
https://lao.ca.gov/LAOEconTax/Article/Detail/712