California’s Cap-and-Trade Program: Frequently Asked Questions

Oct 24, 2023 - Chapter  488 of 2006 (AB  32, N ú ñez) established the target of limiting GHG emissions statewide to the 1990 level by 2020. 2030.  Chapter  249 of 2016 (SB  32, Pavley) extended the limit to at least 40  percent below the 1990 level by 2030. 2045.  
https://lao.ca.gov/Publications/Report/4811

The 2023-24 Budget: Proposed Energy Policy Changes

Mar 10, 2023 - Emissions have decreased since AB 32 was enacted and the state achieved its 2020 goal a year early. However, the rate of reductions needed to reach the SB 32 target are much greater. Chapter 337 of 2022 (AB 1279, Muratsuchi) established an additional objective, requiring the state to achieve carbon neutrality by 2045.
https://lao.ca.gov/Publications/Report/4735

Summary of Major 2022 Climate and Energy Legislation

Jan 6, 2023 - Chapter  488 of 2006 (AB  32, N ú ñez) established the goal of limiting GHG emissions statewide to 1990 levels by 2020 and gave CARB regulatory authority to achieve the maximum cost-effective and technologically feasible emissions reductions.
https://lao.ca.gov/Publications/Report/4660

Cannabis Tax Revenue Update [EconTax Blog]

May 31, 2024 - Looking further ahead, our preliminary revenue projection for 2024-25 is $727 million, which is $32 million above the May Revision forecast for 2024-25.  
https://lao.ca.gov/LAOEconTax/article/Detail/805

Cannabis Tax Revenue Update [EconTax Blog]

May 31, 2024 - Looking further ahead, our preliminary revenue projection for 2024-25 is $727 million, which is $32 million above the May Revision forecast for 2024-25.  
https://lao.ca.gov/LAOEconTax/Article/Detail/805

Proposition 32 [Ballot]

Nov 5, 2024 - Without Proposition 32, the minimum wage for all employees would be about $16.50 per hour. The proposition would not change any loc al or industry-specific minimum wages. Minimum Wage $18 Per Hour in 2026.
https://lao.ca.gov/BallotAnalysis/Proposition?number=32&year=2024

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - After accounting for the budget solutions and administrative augmentations described below, the total budget for this office and its revised responsibilities includes $950  million in total funds ($902  million from the Greenhouse Gas Reduction Fund, $32  million from the General Fund, and the remainder from various other funds) and 186 positions.
https://lao.ca.gov/Publications/Report/4934

The 2024-25 California Spending Plan: Other Provisions

Oct 2, 2024 - After accounting for the budget solutions and administrative augmentations described below, the total budget for this office and its revised responsibilities includes $950  million in total funds ($902  million from the Greenhouse Gas Reduction Fund, $32  million from the General Fund, and the remainder from various other funds) and 186 positions.
https://lao.ca.gov/Publications/Report/4934/governors-office-of-emergency-services

Community Land Trust Property Tax Exemption

Dec 20, 2024 - Chapter  636 of 2022 (AB  1206, Bennett) modified the rules community land trust properties must meet to qualify for the property tax exemption, making it easier for properties to maintain their exemption when low-income residents experience a modest gain in income.
https://lao.ca.gov/Publications/Report/4946

Cannabis Tax Revenue Update (2024 Q3) [EconTax Blog]

Dec 3, 2024 - Chapter 56, Statutes of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022. Preliminary Total for Third Quarter of 2024: $148 Million. The administration currently estimates that retail excise tax revenue was $148 million in the third quarter of calendar year 2024 (July through September).
https://lao.ca.gov/LAOEconTax/Article/Detail/817