U.S. Retail Sales Update: August 2023 [EconTax Blog]

Sep 14, 2023 - U.S. retail sales have grown 1.2 percent over the last 3 months and 2.5 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
https://lao.ca.gov/LAOEconTax/Article/Detail/782

Research and development involving certain psychedelic substances (Amendment #1). [Ballot]

Sep 7, 2023 - The state collects tax revenue to fund many of its government services and facilities. It deposits most tax revenue into its General Fund, which it in turn uses to pay for education, prisons, health care, and other public services (including some research).
https://lao.ca.gov/BallotAnalysis/Initiative/2023-013

MOU Fiscal Analysis: Bargaining Unit 7 (Public Safety)

Sep 7, 2023 - An MOU establishes the state’s employee compensation policies and locks in state expenditures for the duration of the agreement. Though the Legislature has authority to modify economic provisions of ratified MOUs through its appropriation authority, in practice, it is difficult for the Legislature to exercise this authority.
https://lao.ca.gov/Publications/Report/4802

MOU Fiscal Analysis: Bargaining Units 1, 3, 4, 11, 14, 15, 17, 20, and 21 (SEIU Local 1000)

Sep 7, 2023 - An MOU establishes the state’s employee compensation policies and locks in state expenditures for the duration of the agreement. Though the Legislature has authority to modify economic provisions of ratified MOUs through its appropriation authority, in practice, it is difficult for the Legislature to exercise this authority.
https://lao.ca.gov/Publications/Report/4799

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Sep 7, 2023 - Through Savings Plus, employees can open a 401(k) and/or a 457(b) account and can choose to make contributions on a pre-tax or post-tax basis to these accounts. Employees can then choose from a variety of investment options, including indexed and managed funds and target-date funds.
https://lao.ca.gov/Publications/Report/4800

Local land use planning and zoning. [Ballot]

Sep 1, 2023 - For example, housing developments that are privately owned, receive no property tax exemption, and do not have more than 49  percent of housing units occupied by low-income residents, as defined, are exempt from Article 34.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-011

Climate change. [Ballot]

Sep 1, 2023 - Third, should notable contractions occur in the oil and gas sector as a result of new regulations, this could have broader economic impacts and negatively affect other state and local revenue sources such as income taxes or property taxes.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-012

MOU Fiscal Analysis: Bargaining Unit 12 (Craft and Maintenance)

Sep 1, 2023 - An MOU establishes the state’s employee compensation policies and locks in state expenditures for the duration of the agreement. Though the Legislature has authority to modify economic provisions of ratified MOUs through its appropriation authority, in practice, it is difficult for the Legislature to exercise this authority.
https://lao.ca.gov/Publications/Report/4798

Financial Aid Award Amounts [EdBudget]

Aug 31, 2023 - See "Financial Aid Award Coverage" for a description of each award. bSummer financial aid award amounts are at campuses' discretion. cStudents attending private for-profit institutions are ineligible for most types of nontuition awards, except for a Cal Grant B access award of $1,648 or a Cal Grant C book and supply award of $547. dStudents who receive the Cal Grant B access award may also
https://lao.ca.gov/Education/EdBudget/Details/742

Cannabis Tax Revenue Update [EconTax Blog]

Aug 30, 2023 - Proposition 64 created two excise taxes on cannabis: a retail excise tax and a cultivation tax. Chapter 56, Statutes of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022.
https://lao.ca.gov/LAOEconTax/article/Detail/781