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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
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 - Civil penalties on covered co mpanies may be assessed as a percentage of annual gross revenue, beginning at 5 percent for initial violations and increasing to as much as 100 percent for violations that remain u ncured over specified time periods.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

Addressing Chronic Vacancies in Prison Mental Health Care

Feb 23, 2026 - At the time of this publication, the mental health Receiver had approved CDCR ’s request to close 100 excess inpatient beds and was deliberating on whether to deactivate additional excess inpatient beds.
https://lao.ca.gov/Publications/Report/5134

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - The state appropriated approximately $100  million annually over this period. In 2024 ‑25 (three years into the revamped program), the program gave awards to more than 350,000 recipients —about a seven ‑fold increase.
https://lao.ca.gov/Publications/Report/5127

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

The 2025-26 California Spending Plan: Human Services

Nov 21, 2025 - The state funding is provided through Proposition 98 and non ‑Proposition 98 General Fund. c TEFAP is 100 percent federally funded. Emergency Food for Families funding is 100 percent state tax revenue collections.
https://lao.ca.gov/Publications/Report/5086/3

Cannabis Tax Revenue Update (2025 Q3) [EconTax Blog]

Dec 2, 2025 - As shown in the figure below, this forecast is nearly $100 million below the budget package assumption for 2025-26. The main reason for this difference is the tax cut noted above. Our forecast assumes that the market-expanding effects of the tax cut will offset only a small share of the forgone tax revenue.  
https://lao.ca.gov/LAOEconTax/article/Detail/844