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

Jan 13, 2025 - New Tax Expenditures of $150   Million. The Governor ’s budget includes some revenue proposals, which would expand existing tax expenditures and create new ones. This includes increasing the existing film tax credit from $330  million to $750  million per year and excluding some military retirement income from taxation.
https://lao.ca.gov/Publications/Report/4951

The 2025-26 Budget: Transportation Proposals

Feb 12, 2025 - As we discuss in our January 2025 report, The 2025‑26 Budget: Overview of the Governor’s Budget , overall, the Governor proposes $2.2 billion in actions that would create capacity in the General Fund to support $570 million of discretionary proposals (including this proposal), $150 million of tax expenditures, and a larger discretionary reserve than the state typically plans.
https://lao.ca.gov/Publications/Report/4961