The 2023-24 California Spending Plan: Human Services

Nov 6, 2023 - The 2023-24 budget package appropriates and extends expenditure authority through June 30, 2026 for $21.1  million General Fund unspent from 2020-21 and 2022-23 related to CCL ’s ongoing effort to create a new facility management data system, replacing and improving upon the functionalities of several legacy systems.
https://lao.ca.gov/Publications/Report/4812/8

The 2021-22 Budget: California's Fiscal Outlook

Nov 18, 2020 - Recent Data on Tax Collections and Expenditures Consistent With Economic Picture. Recent data on actual tax collections and program caseloads have been consistent with a more positive economic picture, especially among high ‑income Californians.
https://lao.ca.gov/Publications/Report/4297

August 2021 State Tax Collections [EconTax Blog]

Sep 20, 2021 - August 2021 State Tax Collections [EconTax Blog] Seth Kerstein Through the first two months of the 2021-22 fiscal year, collections from the state ’s three largest taxes —personal income, corporation, and sales taxes —are running 20 percent ($3.6 billion) ahead of budget projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/699

The 2022-23 California Spending Plan: Human Services

Oct 21, 2022 - Creates Foster Youth Tax Credit. Creates refundable $1,000 tax credit for young adults aged 18 through 25 who were foster youth at age 13 or older and are otherwise eligible for the California Earned Income Tax Credit.
https://lao.ca.gov/Publications/Report/4640/4

The 2023-24 California Spending Plan: Higher Education

Oct 19, 2023 - Early Action Legislation Clarifies Tax Treatment of Certain Types of Financial Aid Awards. In a May early action budget decision, the state enacted Chapter  5 of 2023 (AB  111, Committee on Budget) related to how certain forms of financial aid are treated for state personal income tax purposes.
https://lao.ca.gov/Publications/Report/4809

Cannabis Tax Revenue Update: May 2023 [EconTax Blog]

May 23, 2023 - To avoid charging the same tax twice, the state allows retailers to claim credits for such pre-2023 tax payments. The $104 million net revenue number results from a gross tax liability of $129 million, combined with $25 million of credits for taxes already paid.
https://lao.ca.gov/LAOEconTax/Article/Detail/776

Impact of COVID-19 on State Transportation Revenues

Sep 17, 2020 - For more information on the impact of COVID-19 on cap-and-trade auction revenues, please view our post Addressing Revenue Uncertainty in the 2020‑21 Cap-and-Trade Expenditure Plan . Pandemic Affects State Transportation Revenues in Various Ways Reduction in Vehicle Miles Traveled (VMT) and Fuel Consumption.
https://lao.ca.gov/Publications/Report/4268?utm_source=t.co&utm_medium=referral&utm_campaign=4268

Impact of COVID-19 on State Transportation Revenues

Sep 17, 2020 - For more information on the impact of COVID-19 on cap-and-trade auction revenues, please view our post Addressing Revenue Uncertainty in the 2020‑21 Cap-and-Trade Expenditure Plan . Pandemic Affects State Transportation Revenues in Various Ways Reduction in Vehicle Miles Traveled (VMT) and Fuel Consumption.
https://lao.ca.gov/Publications/Report/4268

The 2020-21 Budget: The Governor’s Cannabis‑Related Proposals

Feb 14, 2020 - Conduct Oversight Over Other Expenditures of Cannabis Tax Funds. We recommend that the Legislature continue to use its oversight role to ensure that it is comfortable with the administration ’s plans for Cannabis Tax Fund revenues more broadly.
https://lao.ca.gov/Publications/Report/4162

U.S. Retail Sales Update: November 2022 [EconTax Blog]

Dec 15, 2022 - U.S. retail sales (seasonally adjusted) declined 0.6 percent from October to November.
https://lao.ca.gov/LAOEconTax/Article/Detail/764