The 2026-27 Budget: Proposition 4 Spending Plan

Feb 10, 2026 - Legislature Appropriated $3.5   Billion in Bond Funding for First Year of Implementation. The 2025 ‑26 budget package authorized the state to spend $3.5  billion, or slightly more than one ‑third, of the $10  billion total.
https://lao.ca.gov/Publications/Report/5115

Cap-and-Invest: November 2025 Auction Update and 2026-27 Budget Context

Dec 9, 2025 - Notably, roughly $4.3  billion in annual GGRF revenues are necessary to fully fund the allocations made under the new legislation. This amount includes a total of $3.2  billion for various identified programs and purposes, $1  billion set aside for unspecified programs subject to appropriation, and roughly $100  million for state administrative costs.
https://lao.ca.gov/Publications/Report/5096

The 2026-27 Budget: Cap-and-Invest Expenditure Plan

Feb 10, 2026 - In 2026 ‑27, for example, under this approach roughly $1.75  billion is available for discretionary purposes prior to funding Tier 3 programs, of which the administration proposes to spend about $1.6  billion.
https://lao.ca.gov/Publications/Report/5114

The 2026-27 Budget: Proposition 4 Spending Plan [Publication Details]

Feb 10, 2026 - The 2026-27 Budget: Proposition 4 Spending Plan [Publication Details] Description: This publication assesses the Governor’s proposed 2026-27 spending plan for Proposition 4, the $10 billion climate bond approved by voters in November 2024.
https://lao.ca.gov/Publications/Detail/5115

Overview of New Updates to the Cap-and-Invest Program

Dec 9, 2025 - These set amounts generally are equal to the funding levels the programs would have received under prior law if GGRF revenues totaled about $4  billion in a given year. (For reference, over the past decade, annual GGRF revenues have varied from a low of less than $1  billion to a high of just over $5  billion.)
https://lao.ca.gov/Publications/Report/5097

The 2026-27 Budget: Governor’s Sustainable Aviation Fuel Tax Credit Proposal

Feb 24, 2026 - SHOPP is supported by a combination of state and federal funds and is projected to receive around $4.4   billion annually —meaning this proposal would result in a reduction of about 2   percent each year.
https://lao.ca.gov/Publications/Report/5139

The 2025-26 California Spending Plan: Natural Resources and Environmental Protection

Oct 16, 2025 - Cross-Cutting Issues Proposition  4 Climate Bond Allocations Budget Package Provides $3.5  Billion for First Year of Proposition  4 Implementation. As shown in Figure  3 below, the budget package authorizes the state to spend $3.5  billion, or slightly more than one third, of the $10  billion climate bond approved by voters through the November 2024 ballot.
https://lao.ca.gov/Publications/Report/5080

The 2026-27 Budget: Governor’s Office of Land Use and Climate Innovation Proposals

Mar 19, 2026 - While we find that the proposals have merit, like all other General Fund augmentations they must be considered in the context of the state ’s projected multiyear structural deficits —which are estimated to range from about $20  billion to $35  billion annually.  
https://lao.ca.gov/Publications/Report/5167

The 2026-27 Budget: California Public Utilities Commission’s Implementation of AB 1207

Feb 10, 2026 - Absent such additional direction, the Legislature will largely be deferring to CPUC to make decisions about how to allocate this funding —which could total in the tens of billions of dollars over the next twenty years —to utility customers.
https://lao.ca.gov/Publications/Report/5120

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - In total, the Governor ’s budget assumes that state operations costs are reduced by $2.1  billion ($1  billion General Fund) in 2024 ‑25 and $2.6  billion ($1.4  billion General Fund) in 2025 ‑26 and ongoing.
https://lao.ca.gov/Publications/Report/4951