Fiscal Outlook: Developmental Services

Nov 15, 2017 - General Fund Expenditures at DCs Projected to Decline as DCs Close. As DDS consumers transition from the DCs to the community, we project General Fund expenditures for DCs to decline from $350  million in 2017-18 to less than $300  million by 2018-19.
https://lao.ca.gov/Publications/Report/3717

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Reflects MCO Tax Funding That Resulted From Special Session. Chapter  2 of the 2015 –16 Second Extraordinary Session (SB2X  2, Hernandez), imposes a revised MCO tax on most managed care plans. Revenues from the MCO tax are used, in part, to create General Fund savings in Medi –Cal .
https://lao.ca.gov/Publications/Report/3487/6

The 2020-21 Budget: California's Spring Fiscal Outlook [Publication Details]

May 8, 2020 - Our outlook presents two potential scenarios—a somewhat optimistic “U-shaped” recession and a somewhat pessimistic “L-shaped” recession—and assumes a baseline level of expenditures. Under these two scenarios, the state would have to address an $18 billion or $31 billion budget problem.
https://lao.ca.gov/Publications/Detail/4228

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - High –Speed Rail Authority (HSRA) The budget plan includes total expenditures of $1.7  billion for HSRA, roughly $1  billion above the level of expenditures in 2015 –16 . The increase primarily reflects the shifting of some HSRA workload and expenditures initially assumed to occur in 2015 –16 .
https://lao.ca.gov/Publications/Report/3487/9

The 2019-20 May Revision: Opportunity Zones

May 11, 2019 - At the same time, federal tax law typically influences people ’s choices more than state tax law because federal tax rates are higher. This means that at least some of the investment receiving California tax benefits would happen anyway in response to the federal tax benefit.
https://lao.ca.gov/Publications/Report/4038

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - Moving forward, the local auditors are to review facility expenditures to ensure that they comply with the rules of the state ’s School Facilities Program. The State Allocation Board has enacted a regulatory change requiring districts to sign grant agreements prior to receiving state funding that specify allowable project expenditures.
https://lao.ca.gov/Publications/Report/3694/3

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - The spending plan provides $ 23  b illion from the General Fund for Medi ‑Cal local assistance expenditures through DHCS. This is an increase of $2. 6  b illion ( 13  p ercent) compared to the revised estimates of 2017 ‑18 spending levels.
https://lao.ca.gov/Publications/Report/3870/6

The 2019-20 May Revision: LAO Revenue Outlook

May 12, 2019 - All of our revenue estimates use the administration’s assumptions for the effects of conforming to certain federal tax law changes and expanding the Earned Income Tax Credit. Personal Income Tax (PIT) PIT Growth Remains Steady.
https://lao.ca.gov/Publications/Report/4037

The 2021-22 Budget: The Governor’s Proposition 2 Proposals

Apr 26, 2021 - Under Proposition  2, the state must continue to deposit funds into the BSA until it reaches a threshold balance of 10  percent of General Fund tax revenue. Once the BSA reaches this threshold, required deposits that would bring the fund above 10  percent of General Fund taxes instead must be spent on infrastructure.
https://lao.ca.gov/Publications/Report/4418

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - Volatile Financial Markets Indicate Lower Capital Gains-Related Tax Revenue Taxes on capital gains are a significant source of state revenue. Even in “normal ” times, capital gains income is difficult to forecast because it correlates with stock market performance.
https://lao.ca.gov/Publications/Report/4203