The 2022-23 Budget: Cap-and-Trade Expenditure Plan

Jan 25, 2022 - For example, the Legislature could use GGRF to provide lump sum rebates to households, reduce other state taxes (such as sales tax rates), or use the funds to reduce retail electricity rates. Importantly, each of these “revenue recycling” options could be structured in a way that maintains cap‑and‑trade’s incentive for households and businesses to reduce GHGs,
https://lao.ca.gov/Publications/Report/4496

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

Oct 24, 2023 - In addition, Chapter  830 of 2012 (SB  535, de Le ón) required that at least 35  percent of GGRF expenditures benefit “priority populations, ” which include disadvantaged and lower-income communities.
https://lao.ca.gov/Publications/Report/4811

The 2022-23 Budget: Fuel Price and Other Fiscal Relief Options [Publication Details]

May 12, 2022 - In response to increasing prices across the economy—particularly fuel prices—the Legislature is contemplating a number of policies for providing fiscal relief to Californians. In this post, we identify key questions for the Legislature to consider when analyzing the merits of the options proposed by the Governor and in designing its own relief package.
https://lao.ca.gov/Publications/Detail/4597

The 2022-23 Budget: Fuel Price and Other Fiscal Relief Options

May 12, 2022 - Figure 3 Key Legislative Options for Providing Fiscal Relief Fuel Price Focus Reduce gasoline and diesel excise tax rates. a,b Reduce diesel sales tax rate. a Provide tax refunds to vehicle owners. a Targeted Economic Focus Provide tax refunds to lower ‑income households.
https://lao.ca.gov/Publications/Report/4597

The 2022-23 Budget: Cap-and-Trade Revenue Update

Apr 29, 2022 - By comparison, the administration’s January cap-and-trade expenditure plan included nearly $1 billion in discretionary expenditures. February Auction Revenue Similar to LAO Base Forecast. The February 2022 auction generated $975 million in revenue.
https://lao.ca.gov/Publications/Report/4591

New Infrastructure Legislation: Summary and Issues for Legislative Oversight

Aug 8, 2023 - Under the legislation, the funding must meet certain other requirements, including that its use be consistent with the state ’s Scoping Plan for Achieving Carbon Neutrality and state law and not require the expenditure of additional state funds.
https://lao.ca.gov/Publications/Report/4785

The 2018-19 Budget: Fire Recovery Proposals

Mar 1, 2018 - (This represents just over 20  percent of the state ’s estimated expenditures in 2017 ‑18 of $1.8  billion.) Figure 2 Estimated 2017 ‑18 Expenditures on Major Fires (In Millions)
https://lao.ca.gov/Publications/Report/3767

The 2021-22 Budget: Overview of the Governor's Budget

Jan 10, 2021 - The administration estimates direct COVID-19 expenditures, which we do not consider discretionary, are higher by $4.4  billion compared to the budget act assumption. (We define direct COVID-19 expenditures to include expenses for testing, contact tracing, and vaccine distribution.)
https://lao.ca.gov/Publications/Report/4309

A Framework for Evaluating State-Level Green Stimulus Proposals

Jan 5, 2021 - Shifting state budget expenditures unlikely to have significant benefits. Additional funding through new taxes or fees also unlikely to provide significant benefits. New state bonds could have some benefits, but effects likely would be small.
https://lao.ca.gov/Publications/Report/4308

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Recently, corporation tax collections have grown faster than anticipated while personal income tax collections have grown somewhat slower. The administration assumes that this pattern will continue. This is because they attribute the pattern to partnerships, which are taxed under the personal income tax, changing to corporations in response to 2017 federal tax changes.
https://lao.ca.gov/Publications/Report/4135