The 2023-24 Budget: Overview of the Governor's Budget

Jan 13, 2023 - We define a delay as an expenditure reduction that occurs in the budget window (2021 ‑22 through 2023 ‑24), but has an associated expenditure increase in a future year of the multiyear window (2024 ‑25 through 2026 ‑27).
https://lao.ca.gov/Publications/Report/4662

New Inflation Poses Not So New Budget Risk

Dec 15, 2022 - This means that a portion of any inflation created by the tax rebate program will be exported to the rest of the U.S. Once dissipated across the nearly $26  trillion U.S. economy, California ’s $9.5  billion in tax refunds represent, at most, a trivial contribution to broader inflationary pressures.
https://lao.ca.gov/Publications/Report/4653

The 2024-25 Budget: California's Fiscal Outlook

Dec 7, 2023 - The state also limited businesses from claiming more than $5  million in tax credits. The  state also has increased broad ‑based taxes on  a temporary and permanent basis in similar revenue downturns.
https://lao.ca.gov/Publications/Report/4819

The 2023-24 Budget: California's Fiscal Outlook

Nov 16, 2022 - The administration ’s spending estimates at the time of the budget act included some expenditures that did not meet these criteria. Consequently, those items are not included in our expenditure estimates.
https://lao.ca.gov/Publications/Report/4646

The 2020-21 Budget: California's Fiscal Outlook

Nov 20, 2019 - Ongoing Surplus Drops Below $1   Billion in Alternative Expenditure Scenario. There are a number of risks to the baseline expenditure scenario —including , for example, that the federal government might not approve the MCO tax.
https://lao.ca.gov/Publications/Report/4111

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Health Reauthorizes MCO Tax and Makes Related Program Augmentations. The budget package includes trailer bill legislation (Chapter  13 of 2023 [A B  119 , Committee on Budget]) to renew a tax on health insurance plans known as the MCO tax.
https://lao.ca.gov/Publications/Report/4788

An Update on California’s Cash Management Situation

Aug 31, 2020 - The preferred source for comparing budget projections to cash actuals are Agency cash reports, for example, as displayed on the LAO Economy and Taxes Blog .) Significant Federal Reimbursements for COVID-19 Direct Expenditures Anticipated in 2020-21.
https://lao.ca.gov/Publications/Report/4266

The 2022-23 Budget: Initial Comments on the Governor's May Revision

May 16, 2022 - Specifically, SAL requirements can only be met with: Tax Reductions or Tax Refunds. The first way the Legislature can allocate revenues in order to comply with the SAL is to reduce proceeds of taxes, for example, by reducing tax rates, increasing tax credits, or returning funds to taxpayers through tax refunds.
https://lao.ca.gov/Publications/Report/4598

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - The budget language also limits the total cost of any solution to no more than $5  million, requires that CDT submit a prioritized list of solutions to the Department of Finance for review and approval prior to expenditure of the funding, and report to the Legis lature on a semiannual basis (among other information) the expenditures from the fund and the solutions funded.
https://lao.ca.gov/Publications/Report/4452

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Some key areas where expenditures could be lower, include: Medi‑Cal. For a number of years, the state has imposed a tax on managed care organizations’ (MCOs’) Medi‑Cal and commercial lines of business.
https://lao.ca.gov/Publications/Report/4472