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

Jan 20, 2026 - The commission would regulate a narrow category of large AI companies —referred to as “public benefit AI companies ” —that meet specified thresholds related to computational expenditures, California nexus, and public benefit or nonprofit status.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

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

Jan 20, 2026 - This measure could impact state and local tax revenues by influencing how AI companies operate in California. For example, California-based companies could make changes to their r esearch, development, or investment decisions in response to the measure ’s oversight and compliance requirements.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-034

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - The Special Fund for Economic Uncertainties (SFEU) is a general ‑purpose reserve commonly used to provide capacity for unanticipated expenditures, including state costs associated with disasters and other emergencies.
https://lao.ca.gov/Publications/Report/5101

Prohibit new taxes on financial assets and other personal property. [Ballot]

Jan 27, 2026 - For example, the state taxes owners of cars and trucks. Similarly, local governments tax owner s of boats and business equipment. Financial Assets Are Not Taxed. Many types of personal property are not taxed.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-041

Residency rules for state personal income tax purposes. [Ballot]

Jan 27, 2026 - Taxpayers who become nonresidents under the new rule would pay less stat e taxes as a result. This would result in decreased state income tax revenues of an unknown amount. Increased State Income Tax Revenues From New Tax on High-Income Nonresidents.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-039

The applicability of tax increases to the state’s constitutional requirements. [Ballot]

Jan 27, 2026 - Most State Revenues Are Taxes. Taxes are a type of revenue that can be used to support any public purpose. Nearly all of the General Fund ’s revenues are taxes. Some funds, like special funds, are also funded with taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-038

Special taxes. [Ballot]

Jan 27, 2026 - Special taxes. [Ballot] Pursuant to Elections Code Section 9005, we have reviewed the proposed initiative regarding special taxes (A.G. File No. 25-0040, Amendment #1).     Background Special Tax. Taxes are a type of revenue that can be used to support any public purpose.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-040

Temporary tax increases. [Ballot]

Jan 27, 2026 - Temporary tax increases. [Ballot] Pursuant to Elections Code Section 9005, we have reviewed the proposed initiative related to temporary tax increases (A.G. File No. 25-0037, Amendment #1). Background Initiatives Can Raise Taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-037

Property tax rules for inherited property. [Ballot]

Jan 21, 2026 - Property taxes are a major revenue source for local governments, raisin g about $100  billion annually statewide. How Is a Property Tax Bill Calculated? Each annual property tax bill is equal to the taxable value of the property multiplied by the property tax rate.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-035

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - As we described in our November Fiscal Outlook , the recent stronger-than-expected revenue trends are almost entirely explained by the personal income tax (PIT), which has seen double digit growth this year.
https://lao.ca.gov/Publications/Report/5104